HUMAN CAPITAL, STRUCTURAL CAPITAL AND FIRM VALUE OF LISTED INDUSTRIAL GOODS FIRMS IN NIGERIA
Anthony, Chika , Samuel, Iyere and Abubakar, Halimatu
Volume 11 Issue 2
Abstract
The study examined the effect of human and structural capital on firm value of listed industrial goods in Nigeria from 2014-2023. The study adopts ex-post facto research design and intellectual capital is measured by human capital and structural capital efficiency while firm value is measured by firm value. Panel multiple regression was used for the analysis. From the analysis, the study found that human capital efficiency has positive but insignificant effect on firm value, structural capital efficiency has positive significant effect on firm value. Based on the finding, the study recommend that industrial goods firms place significant emphasis on enhancing human capital, recognizing it as the most vital asset for influencing firm value. Companies should implement comprehensive policies to upgrade employee skills and competencies through targeted training and development programs. By focusing on continuous learning and development, firms can harness the full potential of their workforce to improve productivity and innovation, thereby boosting market value. For structural capital, firms should avoid over-investment in rigid systems and processes that may limit flexibility and agility Keywords: Human Capital, Structural Capital, Firm Value
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