Methodology
The study employed comparative and empirical literature review to
compare the methods adopted by 30 Ph.D researchers selected from
concluded studies in finance and accounting from four universities in
Nigeria. Sample selection targeted only studies on financial performance
with four dependent-variable surrogates. Logistic regression was used to
convert the a priori expectations of the 30 Ph.D research theses
into a probabilistic log values’ data. The probability values ranged
from 0.24 to 0.99 in accordance with the expressed expectation to the
actual expectation. The log values were then compared with the
individual surrogate performance on the one hand and the surrogates’
geometric means on the other hand using ANOVA and logistic regression
analysis.