BENCHMARK CAPITAL RESOURCES AND THEIR IMPACT ON FIRM PERFORMANCE
The firm performance of companies in Nigeria had witnessed trajectory decline pace over the years. Prior studies have suggested that the possibility benchmarking of capital resource could impact positively on firm performance. However, this have not been under-researched in Nigeria, creating uncertainties the possible impact. In addressing this problem of firm performance, this study examined the possible impact of benchmark capital resources on firm performance of consumer goods companies listed in Nigeria. The study employed secondary data obtained from documented and audited financial statements of the consumer goods manufacturing companies. The study selected 12 of these manufactured companies listed in Nigeria from the population of 23 using purposive sampling technique for 15 years, covering from 2007 to 2021, giving a firm-year of 180. Based on the panel data pooled regression analysis, the study found that benchmark capital resourced had a positive effect on firm performance (Adj.R2 = 0.223; Wald-Test (4, 175) = 4690.42; p < 0.05). The study recommended that managerial competence and efficient deployment of capital resources should be intensified to enhance firm performance.