IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 9 NO. 4 2023
DOI: https://doi.org/10.56201/ijebm.v9.no4.2023.pg160.171

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Intellectual Capital Investment and Corporate Sustainability Growth: An Empirical Evidence on Listed Firms in Nigeria

Okafor Godson Ikechukwu. A, Orjinta Hope Ifeoma (Ph.D)

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Abstract

The study examined the relationship between intellectual capital investment and corporate sustainability growth. Intellectual capital investment was proxy using human capital investment (HCI), relational capital investment (RCI) and structural capital investment (SCI) while corporate sustainability growth was measured using corporate sustainability growth rate (CSGR). Ex post facto design was adopted and data for this study was collected from the annual reports and accounts of the selected industrial goods firms listed on the floors of Nigerian Exchange Group (NGX) for the period of 2016-2022. Panel Least squares model was used in the data analysis and the results of the study show a significant and positive relationship between human capital investment, relational capital investment, structural capital investment and sustainability growth of industrial goods firms in Nigeria at 1% significant level. The study therefore concludes that intellectual capital investment ensures corporate sustainability growth. Thus, the study recommends that manufacturing firms in Nigeria should improve on human capital investment as any negative changes in human capital investment will impact the sustainable growth of the firm. They should also invest on relational and structural capital as it can improve their competitiveness and bottom line

keywords:

Human Capital Investment; Relational Capital Investment; Structural Capital Investment; Corporate Sustainability Growth

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References:

Ahangar, R.G (2011). The relationship between intellectual capital and financial performance An
empirical investigation in an Iranian company. African journal of Business Management,
5(1), 88-95.

Akpan, D., & Akinniyi, P. (2019). Effect of intellectual capital on value creation and banks
performance in Nigeria. Journal of Accounting and Financial Management, 3(4), 67-74.

Aluwong, D. (2022). Intellectual capital performance of non-finance firms in Nigeria. European
Journal of Business and Innovation Research. European Journal of Business and Innovation
Research, 10(1), 1-17

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