Intellectual Capital and Corporate Sustainability Growth in Firms Listed in Nigerian Stock Exchange

Q3 Economics, Econometrics and Finance

Afro-Asian Journal of Finance and Accounting Pub Date : 2023-03-28 DOI:10.11648/j.jfa.20231102.11

Ojianwuna Chukwuekwu

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引用次数: 0

Abstract

: The objective of this research was to examine the influence of intellectual capital IC) and its components on corporate sustainability growth in firms listed in Nigerian stock Exchange. Furthermore, this paper aimed at determining the constituent of the intellectual capital that has more predictive ability on business sustainable growth in Nigeria. A sample size of 10 listed consumer goods firms over a period of ten years (2011-2020) was used as sample size for this study. Regression analysis techniques was used to investigate the effect of Intellectula Capital and its components on business sustainability growth. Results from the analyses revealed that intellectual capital (IC) as proxied by the M-VAIC model establishes a significant influence on corporate sustainable growth, (AdjR 2 =0.128, F-Stat =1.6308; p-value = 0.038). Notably, the findings also showed that almost all the independent variables namely, Physical Capital, Human Capital, Structural Capital and Relational Capital exert significant effect in predicting corporate sustainable growth. Furthermore, the results revealed that physical and human capital are the major components of IC that exert powerful influence on corporate sustainable growth. The study concludes that the overall intellectual capital components play an essential role in driving the listed consumer goods in Nigeria in the wheel of sustainable growth.

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尼日利亚证券交易所上市公司的智力资本与企业可持续性增长

本研究的目的是考察在尼日利亚证券交易所上市的公司的智力资本及其组成部分对公司可持续发展的影响。此外，本文旨在确定对尼日利亚商业可持续增长具有更强预测能力的智力资本的组成部分。本研究的样本量为10年(2011-2020年)的10家上市消费品公司。运用回归分析技术，考察了智力资本及其构成要素对企业可持续发展的影响。结果表明，M-VAIC模型所代表的智力资本(IC)对企业可持续增长具有显著影响(AdjR 2 =0.128, F-Stat =1.6308;p值= 0.038)。值得注意的是，研究结果还表明，几乎所有的自变量，即物质资本、人力资本、结构资本和关系资本对企业可持续增长的预测都有显著的影响。此外，研究结果还表明，物质资本和人力资本是企业创新能力的主要组成部分，对企业的可持续增长具有重要影响。该研究得出结论，整体智力资本组成部分在推动尼日利亚上市消费品在可持续增长的车轮上发挥着至关重要的作用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Afro-Asian Journal of Finance and Accounting Economics, Econometrics and Finance-Finance

CiteScore

0.70

自引率

0.00%

发文量

期刊介绍： Finance and accounting are seen as essential components for the successful implementation of market-based development policies supporting economic liberalisation in the rapidly emerging economies in Africa, the Middle-East and Asia. AAJFA aims to foster greater discussion and research of the development of the finance and accounting disciplines in these regions. A major feature of the journal will be to emphasise the implications of this development and the effects on businesses, academics and professionals. Topics covered include: -Asset pricing, corporate finance, banking; market microstructure -Behavioural and experimental finance; law and finance -Emerging economies: finance, audit committees, corporate governance -Islamic finance, accounting and auditing -Equity analysis and valuation, venture capital and IPOs -National GAAP and IASs compliance, harmonisation and strategies -Financial measurement/disclosure, and the quality of information reported -Accountability and social/ethical/environmental measurement/reporting -Cultural, political, institutional impact on financial measurement/disclosure -Accounting practices for intellectual capital and other intangible assets -Provision of non-audit services and impairment to auditor independence -Audit quality and auditor skills; internal control/auditing -Management accounting, control and /use of key performance indicators -Accounting education and professional development, accounting history -Public sector and not-for-profit accounting