The IMF's Structural Adjustment Program and Its Impact on Firm Performance: A Case of Foreign and Domestic Firms in Nigeria

Abstract

■ This paper examines the impact of environmental and firm strategy variables on market performance of foreign and domestic manufacturing firms in Nigeria. A survey of the chief executive officers of the top 200 manufacturing companies in Nigeria was conducted and information on the tripartite variables collected. Key Results ■ Within the backdrop of recent significant economic reform programs under the International Monetary Fund's Structural Adjustment Program, market performance of both domestic and foreign manufacturing firms is found to have improved. The conclusion provides further evidence that market reform policies lead to improved business climate and performance.

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