INTELLECTUAL CAPITAL EFFICIENCY AND ECONOMIC VALUE OF CONSUMER GOODS FIRMS IN NIGERIA

Abstract

The study investigated the interconnection between intellectual capital efficiency and economic value of listed consumer firms in Nigeria for the period of 2016-2020. The study independent variable explores whether there are significant associations among intellectual capital efficiency such as Human capital efficiency, Structural capital efficiency, Capital employed efficiency and the dependent variable, economic value (ROA). Our result showed that Human capital efficiency, Structural capital efficiency has positive and significant impact on economic value (ROA). However, Capital employed efficiency shows negative and non-significant effect on economic value in Nigeria. The study concludes that intellectual capital efficiency has a positive and significant effect on economic value of listed consumer goods in Nigeria. Our study recommended that top executives of firms should cultivate the habit of investing in human capital development so as increase the economic value of their firm. Also, the study recommended that the regulatory agencies should intensify efforts to ensure that firms invest in the development of intellectual capital so as to increase the economic value of consumer goods firms in Nigeria.