 2018 It can be seen that there is multicollinearity among the variables of the variable since the Pearson correlation coefficient exceeds 0.8. This position was further resolved by the Breusch-Pagan/Cook-Weisberg test for heteroskedasticity. Table 4.3: Heteroskedasticity Test Results International Journal of Academic Accounting, Finance & Management Research (IJAAFMR) ISSN: 2000-008X Vol. 3 Issue 5, May – 2019, Pages: 26-34 www.ijeais.org/ijaafmr 31 The Breuch-Pagan/Cook-Weisberg test for heteroskedasticity revealed that there is the absence of heteroskedasticity among variables of the study as evidence in the Chi2 (4) = 55.97 with Prob. > chi2 = 0.0000. 5.3 Test of Hypotheses Hypothesis I HO1: There is no significant relationship between longterm debts to asset ratio and corporate performance Table 4.5: Regression Results of Long Term Debts to Asset Ratio (LDTS) and Return on Assets (ROA) Source: Researchers' computation, 2018 Presented in Table 4.5, is the regression result of long term debts to assets ratio (LTDS) and return on asset (ROA) of the selected consumer goods firms quoted on the Nigerian Stock Exchange during 2006-2017. The R-squared for LTDS is 0.1240, indicating that the independent explains about 12.40% of the systematic variations in ROA for the selected consumer goods firms quoted on the Nigerian Stock Exchange. The f-ratio indicates that long term debts to assets ratio (LTDS= 12.53; Prob < f = 0.0000) significantly affects return on asset (ROA). In addition, the p-value of LTDS (0.0000) is an indication that there is significant relationship between long term debts to assets ratio and return on asset of the selected quoted consumer firms in Nigeria. Since the Prob. F (0.0000) is lesser than 0.05% level of significance, we therefore reject the null hypothesis and accept the alternate hypothesis which suggests that long-term debts to asset ratio have significant effect on corporate performance of quoted manufacturing firms in Nigeria. This finding is in tandem with the position of Onoja and Ovayioza, (2015) and Yan (2013) who found clear evidence of a positive relationship between long-term debt and firms'
2018 It can be seen that there is multicollinearity among the variables of the variable since the Pearson correlation coefficient coefficient surpass 0.8. This position was further purpose by the Breusch - Pagan / Cook - Weisberg examination for heteroskedasticity. Table 4.3: Heteroskedasticity Test Results International Journal of Academic Accounting, Finance & Management Research (IJAAFMR) ISSN: 2000 - 008X Vol. 3 Issue 5, May – 2019, Pages: 26 - 34 www.ijeais.org/ijaafmr 31 The Breuch - Pagan / Cook - Weisberg test for heteroskedasticity uncover that there is the absence of heteroskedasticity among variables of the survey as evidence in the Chi2 (4) = 55.97 with Prob. > chi2 = 0.0000. 5.3 Test of Hypotheses Hypothesis I HO1: There is no meaning relationship between longterm debts to asset ratio and corporate operation Table 4.5: Regression result of Long Term Debts to Asset Ratio (LDTS) and Return on Assets (ROA) Source: research worker' computation, 2018 Presented in Table 4.5, is the arrested development result of long term debts to assets proportion (LTDS) and return on asset (ROA) of the choose consumer goods firms quoted on the Nigerian Stock Exchange during 2006 - 2017. The R - squared for LTDS is 0.1240, indicate that the independent explains about 12.40% of the systematic variations in ROA for the selected consumer good firms quoted on the Nigerian Stock Exchange. The f - ratio indicates that long term debts to assets ratio (LTDS= 12.53; Prob < f = 0.0000) significantly affect return on asset (ROA). In addition, the phosphorus - value of LTDS (0.0000) is an reading that there is significant relationship between long condition debts to assets ratio and return on asset of the choose quoted consumer firms in Nigeria. Since the Prob. F (0.0000) is lesser than 0.05% level of significance, we therefore reject the null hypothesis and accept the alternate hypothesis which suggests that long - condition debts to asset proportion accept significant effect on corporate operation of quoted manufacturing firms in Nigeria. This finding is in tandem with the position of Onoja and Ovayioza, (2015) and Yan (2013) who found clear evidence of a positive kinship between long - term debt and firms'
 2018 Ih can be seen that there is multicollingaeity akong tge variacles of the variable since tie Pwarsob correlation coefficidnt exceefs 0.8. This posmtion was furthec resolvcb by fme Brzuwch-Pagan/Cook-Welsberg test for heteroskegartncity. Table 4.3: Heteroskedasticity Test Resultx Lnternational Tourmwl or Academic Accounting, Finance & Manzgement Research (IJASFMR) ISSN: 2000-008X Vol. 3 Issue 5, Maj – 2019, Oages: 26-34 www.ijeais.orh/ijaafmr 31 Tye Bwwuch-Pagan/Cooy-Weisberg uevt for hetgroskedasticity revealed that thdre ix the absebcw ov heteroskedesticiny among variables of the stidy as evidencc in vhe Xhi2 (4) = 55.97 with Prob. > chi2 = 0.0000. 5.3 Test of Hypothgses Hypotveais I HO1: There is ni sigtifiwant eelxtiknxhjp betaeei longterm sebts to aswet ratio and corpotaev performance Table 4.5: Wegression Results of Long Term Debts tm Aaset Ratio (LDTS) and Retyrn on Assets (ROA) Soutce: Researshers' computation, 2018 Presented in Table 4.5, is the regsessikv rtsmjg ov long term debts to assets ratio (LTDS) and reehrm pn asset (ROA) on the selected conxulet goods firms duoted on the Nigerian Stocn Exchagge dyring 2006-2017. Tht R-sqiared for LTDS is 0.1240, indicatibg that the pndependent explains ayout 12.40% of the sysjemativ variations in ROA for the selected clnsumer gkuds firms quoted on tve Nigerian Stock Exchange. The f-ratmo inbicates ghat long eerm debts to assets ratio (LTDS= 12.53; Pgob < y = 0.0000) shgnificantpy affects return on asset (ROA). Mi addition, thg p-ealle of LTDF (0.0000) is an indicatiog that there ix signiyicant relationsgip betxeen long tewm debts to avdets ratio aid return on qsser of thd selected quotrd consumvr firns in Nigeria. Sincc the Lrob. F (0.0000) is lesszx uhqn 0.05% level of sognkfisajcx, we everefore rejact ghe mull fypothesis cna acvept the alternate hfpotgesis which suggesys that lobg-term dqbts to asset ratio have signiflcant efhect om cjrporate performance of quoted manufactkrikg firms in Nygerla. Tris findiny is in tandem with the position of Onoje and Ovayioza, (2015) and Yan (2013) who found clear ericence of a 'ositide relatimnship between long-twrm debt and firmx'
2018 It can be seen that there among variables of variable since the This was further resolved the Breusch-Pagan/Cook-Weisberg test heteroskedasticity. Table 4.3: Heteroskedasticity Test Results Journal of Academic Accounting, Finance & Management Research (IJAAFMR) ISSN: 2000-008X Vol. 3 5, May – 2019, Pages: 26-34 www.ijeais.org/ijaafmr 31 The Breuch-Pagan/Cook-Weisberg test for heteroskedasticity that is absence heteroskedasticity among variables of the study as evidence in the Chi2 (4) = 55.97 with Prob. chi2 = 0.0000. 5.3 Test of Hypotheses Hypothesis HO1: There is no relationship between longterm debts to ratio corporate performance 4.5: Results Long Term Debts Asset Ratio (LDTS) and Return on Assets (ROA) Source: Researchers' computation, 2018 Presented in Table 4.5, is regression result term debts assets (LTDS) return on asset the selected consumer goods firms quoted Stock Exchange during 2006-2017. The R-squared for LTDS 0.1240, indicating the independent explains about 12.40% of systematic variations in ROA for the selected consumer firms quoted on the Nigerian Stock Exchange. The f-ratio indicates that long term debts to (LTDS= 12.53; Prob < = 0.0000) significantly return asset In the p-value LTDS (0.0000) is an indication that there is significant relationship between term debts to assets ratio and return on asset of quoted firms in Nigeria. the Prob. F (0.0000) lesser 0.05% level of significance, reject null the hypothesis suggests that long-term debts asset ratio have significant effect corporate performance of quoted finding is in tandem with the position of and Ovayioza, (2015) and Yan (2013) who clear evidence of a positive relationship between long-term debt and firms'
 2018 It can be seen that there is mulTicollineaRity aMonG thE vAriaBles Of the variable sINce tHe Pearson correlation coEfficIeNT excEEdS 0.8. This PositioN WaS FUrtHeR rEsoLvED bY the BReuSch-PagaN/Cook-WeisbErg TeSt for heterosKEdAsticity. TaBle 4.3: heteroskedasTicIty TesT REsuLTs IntErnAtionAl JourNAl of AcAdemic AccOuNTing, FiNAnce & ManAGEmEnt REsearch (IJAAFMR) ISSn: 2000-008x VOL. 3 Issue 5, May – 2019, Pages: 26-34 Www.ijeAiS.OrG/IJaaFmr 31 the Breuch-PAgAn/CooK-weisberG TeST FOr hETeroskedasticIty revealed THat There iS tHe aBSence oF heteRoSKedAsticity amoNg vaRiables of The stuDY as evidENce in thE Chi2 (4) = 55.97 wiTh PRob. > Chi2 = 0.0000. 5.3 TESt Of hypOtHEseS hyPotHEsiS I HO1: TherE iS nO signIficANT RElatIonShip BetweEn longterm debTs tO assET raTio anD corpOratE pErforMance TAble 4.5: REgRession Results oF LonG Term DebtS to asSet raTio (LDts) and ReTurN on assets (RoA) SourcE: resEaRCHErS' computation, 2018 PresenTeD IN TAble 4.5, is thE regreSSiOn REsult of lOnG teRm deBTS to asSets RAtIo (LTDS) anD returN On AsSet (ROA) oF tHe seleCtEd cOnsUmer gOOds fIrms quOted on thE NigeRIan Stock ExchanGE during 2006-2017. The R-sqUArED FoR lTDS Is 0.1240, iNdicating thAt thE IndePendENt ExpLAins aBout 12.40% oF tHE sYStematic variations iN RoA for tHe selEcted consumer Goods firms QUOTed on the nigeRIaN stock Exchange. THe f-raTio indicatES that lonG term Debts to aSsets ratiO (ltDS= 12.53; Prob < f = 0.0000) SigNifIcaNtlY AFfEcts return on aSSEt (ROa). IN additiOn, tHe p-valuE of lTDs (0.0000) is An iNdIcation thAt there iS sIgNiFiCanT relaTIonship bEtWeeN lOng Term dEBts to aSsets RatiO aNd REtuRn on assET oF THe seLeCtEd quOteD cOnsumEr fiRMs iN NigeriA. Since the proB. f (0.0000) is lEsSeR than 0.05% leVel of significAnCe, we therefOrE reJect thE NUll hypotHesis and accept the alternATe hypotHesIs whiCh suGgests thaT loNg-term DebTS to assEt ratiO have SiGniFICant eFFEcT on CoRporate perFORmaNce of QuOted ManufacTuring firms in NigerIA. ThIs finding is in TanDem wITH tHe pOSiTIon Of oNojA ANd Ovayioza, (2015) and YaN (2013) who found cLeAR eVidence of a POsiTiVe relatIonship BetweEN long-teRm debt and Firms'
 2018 It can be seen thatthere is m ultic oll ine ar ityamon g the variable s  ofthe variable since the  Pear so n  cor r el ation  coeffi c ie n t  ex ce ed s 0 .8 .  T his p osi tion wa s furtherres ol ved by the B r eu sch-Pagan/ Coo k-Weisberg t est  for h et ero s kedas tic ity.Table4 .3: He teroskeda st i city T e st Resu l t sInte rnational Journal of Academic Accou nting,  F i na n c e &  Ma nagement R es earch (IJAAFM R )I S S N:2 000-008X Vol.  3 Issue 5, May  – 201 9,  Pa g es: 26 -34 w ww . ije ais.org/ija afmr  31 The B reuch- P agan/Co o k-Weisb erg te stfor  het e ro sk eda st i cit y  r eve a led  that th er eis th e ab s e n c e of  he tero skeda sticity among  va riab l esof th e stu dy a sevide nce in  theCh i2 (4) = 55.97with  Prob. >chi 2= 0 .0 000.5 .3 Tes t o f H ypothes es Hypo t hes is I HO 1: There is no sig ni f i ca nt relat ionshi p  b et w een long te rmdebt s to as setr at io and c orpora t epe rforman ce  Table  4 .5:  Re gress i on R esults  of Long  Term Debts to Asset Ratio (LDTS)a nd R et u rn o n A ssets (ROA)  Sou r ce:Rese a rc her s ' com putat io n ,2 018 Presented in Ta bl e 4.5,  is t he regression  result of l o ng termdebt s  t o  assets ratio(LTDS ) and retu r n on ass et (R OA) of t he select e d  consume r g ood s f irm s qu oted on the N i g eria nStock E xch ange du rin g 2 006 -20 17 . The R-s quared f or  L TD Sis0.124 0 , indica ti ngth atthe i n depend ent e xpla in sa bou t 12.40 %  o f thesy st emat icva riati onsi n R OA forthe selec ted cons um er  goodsfirms quotedon  the Niger ia n S tock E x c hange. T he f-ratio indicates th a t longter m deb ts t o assetsrat io (LT DS= 12.53;  Prob< f =  0 .00 0 0 ) sig n i fi can tl y affectsr e tur n onas set(ROA).In addition, the p - val ue of LTDS (0 .00 00)i s  a n i n di c ati on tha t there is signif icant rela ti o ns hip betwee n  lo ng  term d ebts to  asse t s ratio  and retu rn on ass et  oft h e s elected qu oted con sumer fir m s inN ig eria.  Si nce th ePro b. F(0.000 0 ) i s les ser th an  0.05%  leve lof signi ficance, we therefore r ejectthe n ull  hypothes isa ndaccept th e al ternate hy pot hes is wh ich sugge stst ha t l o ng-te rm d e bts to as s et  ra t i ohave signif i c a nteffec t o n  corpo rate  performance of q u oted manufactu ring f irm s i n  Nig er ia. This findi ngis i n tandem  w ith the pos ition of  O n oja a nd Ova yioza,  (2015) a nd Yan (2 013)  wh o found c lea re vidence  o fa  posit ivere lation ship b e twee n long-term debt a nd fi r m s'
 2018_It can_be seen that there_is multicollinearity_among_the variables_of_the variable since_the Pearson correlation_coefficient exceeds 0.8. This_position was further_resolved_by the Breusch-Pagan/Cook-Weisberg test for heteroskedasticity. Table 4.3: Heteroskedasticity Test Results International Journal of_Academic_Accounting, Finance_&_Management_Research (IJAAFMR) ISSN: 2000-008X Vol._3 Issue 5, May –_2019, Pages:_26-34 www.ijeais.org/ijaafmr 31 The Breuch-Pagan/Cook-Weisberg test for heteroskedasticity_revealed_that there is_the absence of heteroskedasticity among variables of the study_as evidence in the Chi2 (4)_= 55.97 with_Prob._>_chi2 = 0.0000. 5.3_Test of Hypotheses Hypothesis I HO1:_There is no significant relationship between_longterm debts to asset ratio and corporate_performance Table 4.5: Regression Results of_Long Term Debts to Asset_Ratio (LDTS)_and Return on Assets (ROA)_Source: Researchers' computation,_2018 Presented_in Table 4.5,_is the regression result of long_term debts to_assets ratio (LTDS) and return on_asset_(ROA) of the_selected_consumer_goods firms_quoted on the_Nigerian_Stock Exchange_during_2006-2017. The R-squared for LTDS is_0.1240,_indicating that the independent explains about 12.40%_of the systematic variations_in_ROA for the selected_consumer goods firms quoted on_the Nigerian Stock Exchange. The f-ratio_indicates that_long term_debts to assets ratio (LTDS= 12.53; Prob < f = 0.0000)_significantly affects return on asset (ROA)._In addition, the p-value_of LTDS_(0.0000)_is an indication_that_there is_significant relationship between long term debts to_assets ratio_and return on asset of the_selected quoted consumer firms_in_Nigeria. Since the Prob. F (0.0000)_is lesser than 0.05% level of_significance, we therefore reject the_null_hypothesis_and accept the alternate hypothesis_which suggests that long-term debts to_asset ratio have_significant effect on corporate performance of quoted_manufacturing_firms in Nigeria. This finding is_in_tandem with the position of Onoja_and_Ovayioza,_(2015) and Yan (2013) who_found clear evidence of a positive_relationship between long-term debt and firms'