INFLUENCE OF TRAINING AND DEVELOPMENT COST ON RETURN OF FINANCIAL PERFORMANCE OF LISTED INDUSTRIAL GOODS MANUFACTURING FIRMS IN NIGERIA

Abstract

The study determined the influence of training and development costs on financial performance of listed industrial goods manufacturing firms in Nigeria. The population of this study was thirteen (13) industrial goods manufacturing companies listed on Nigeria Exchange Group. Sample size of ten (10) firms representing about 76% (percent) of listed industrial goods firms in Nigeria was obtained. The non-probability sampling technique was adopted in this study. The findings of this study showed that Employee training and development costs showed positive and significant relationship with return on asset. The study concluded that employee training and development costs will have a significant positive relationship on return on assets, indicating that investments in enhancing employee skills and capabilities will lead to improved asset utilization efficiency. Firms should strategically allocate resources towards enhancing employee training and development programs.