• DR. S. J. INYADA Faculty of Management Sciences, Kogi State University, Anyigba
  • UGBEDE JOHN THANKGOD Faculty of Management Sciences, Kogi State University, Anyigba
  • AROME PETER SHAIBU Faculty of Management Sciences, Kogi State University, Anyigba


This study examines the effect of intellectual capital on financial performance of listed industrial goods companies in Nigeria for ten years’ period 2008 to 2018 by adopting Pulic model of IC known as value added intellectual coefficient (VAIC). Secondary data were used; multiple Regression models were used to test the hypotheses of the study where the results show that there was positive significant influence of IC on financial performance. Specifically, the results showed that structural capital efficiency and capital employed efficiency influence the financial performance of industrial goods companies. Human capital efficiency was not significant but has a positive contribution to return on asset. This study recommends that companies in Nigeria should invest in development of their intellectual capital as a key driver of firm's performance. The study also suggeststhat there is a need to have a separate department called IC department in all organization so that clear and proper records of all components of IC could be kept by the organization.

Author Biographies

DR. S. J. INYADA , Faculty of Management Sciences, Kogi State University, Anyigba

Department of Accountancy

UGBEDE JOHN THANKGOD, Faculty of Management Sciences, Kogi State University, Anyigba

Department of Accountancy

AROME PETER SHAIBU, Faculty of Management Sciences, Kogi State University, Anyigba

Department of Accountancy


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