IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 8 NO. 7 2022
DOI: https://doi.org/10.56201/jafm.v8.no7.2022.pg225.234

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The Intangible Assets Innovation and Firm Value of Quoted Consumer Goods Manufacturing Firms in Nigeria

Emeneka, Ogochukwu L., Okerekeoti, Chinedu U.

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Abstract

This study examined the intangible assets and firm value of quoted consumer goods manufacturing firms in Nigeria from 2012-2020 periods. Ex Post Facto research design was adopted. Data were sourced from the annual reports and accounts of twenty sampled manufacturing firms. Regression analysis was employed via E-views 9.0 statistical software. Data analysis revealed that a significant and positive effect exists between intangible assets and firm value at 5% level of significance respectively. The study further concludes that the components of considered in this study are important variables in explaining Firm Value of quoted manufacturing firms in Nigeria. Since innovation in intangible assets has a positive correlation with firm value, the study suggested that businesses should maintain a culture of innovation for the purposes of increasing customer loyalty, trust, and sales.

keywords:

Innovation, Intangible assets and Firm value

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