Dr. Suleiman Hadiza Ahmed
&
Hussain Zayyan
Department of Accounting,
Usmanu Danfodio University, Sokoto
For correspondence, email: hadiza.ahmed@udusok.edu.ng
Abstract
This study explores the impact of the COVID-19 pandemic on capital structure and profitabilityof listed deposit money banks (DMBs) in Nigeria. The main objective is to examine the extent towhich debt-equity affects profitability proxies (Return on Asset and Tobin’s Q) of listed DMBsin Nigeria due to the pandemic. Secondary data were used, analyzed with panel regression.Findings revealed that capital structure did not significantly influence profitability proxiesbefore or during the pandemic, but post-pandemic. capital structure significantly affectedTobin’s Q. The study concludes that the pandemic altered DMBs’ capital structure strategiesand profitability due to economic uncertainty, loan defaults, and interest rate pressures.
Keywords: Capital structure, profitability, COVID-19, DMBs, Nigeria