Financing and Corporate Performance Mizra (2013) identified capital structure as one of the internal dynamics that affect firm performance. Capital structure is to the ratio of debt and equity financing. In case of more debt financing, a firm has to face certain bankruptcy risk, but there are also some tax benefits associated with debt 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 28 financing (Su & Vo, 2010). A study by Oguna (2014) on the effect of capital structure on the financial performance of firms listed in the Nigerian Stock Exchange established that long-term debt had a significant negative relationship with return on equity, which means the leverage has effect in the long term22 consumer goods firms quoted on the Nigerian Stock Exchange (NSE). The consumer goods subsector was chosen over others because it is one of the least investigated sectors of the NSE. To cut costs, a representative sample size of 20 firms derived using the Yamani's (1967) scientific approach to sample determination was adopted. To ensure that the 20 sample firms are given equal opportunity of being selected, the probabilistic sampling approach was adopted with emphasis on a simple random sampling technique. However, a final sample size of 15 consumer goods firms was selected based on certain criteria: The first criterion was that sample units included in the study hold a complete twelve years financial statement data. Therefore, firms with missing data for a period covering twelve years from