ABSTRACT

The divergent opinion on the determinants of the financial performance of pension funds

administrators has been an ongoing issue. Academic scholars overtime have been groping with

what factors drive the financial performance of pension funds administrators which still

remains unestablished. Hence, this study determines the effect of firm characteristics on the

financial performance of pension funds administrators in Nigeria. The study employed

correlational research design while the population of the study is the 20 registered and licensed

Pension Funds Administrators in Nigeria and a sample of eleven (11) PFAs were conveniently

selected after filter was applied. A multiple regression was adopted as a technique of data

analysis of the study. The findings reveal that firm size is statistically insignificant in

influencing the performance of PFAs, while firm growth, institutional shareholding, managerial

shareholding and leverage have significant negative impact on the performance of PFAs. The

study recommended among others that, the Management of PFAs should increase their net

assets in order to expand their size and improve performance. Again, as more levered PFAs

tend to have better performance, their Management should use less equity financing and

increase debt to improve their performance.

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