Abstract

The study determined the effect of intellectual capital on the corporate performance of listed consumer goods firms in Nigeria. Specifically, it examined the impact of human capital efficiency and structural capital efficiency on the return on equity (ROE) of these firms. An ex-post facto research design was employed, focusing on a sample of sixteen listed consumer goods firms on the Nigerian Exchange Group from 2013 to 2022. Data were sourced from the audited annual reports and accounts of these companies. The hypotheses were tested using pooled Ordinary Least Squares (OLS) regression analysis to evaluate the relationship between the independent variables (human capital efficiency and structural capital efficiency) and the dependent variable (return on equity). The results revealed that both human capital efficiency and structural capital efficiency have a negative but statistically insignificant effect on the return on equity of listed consumer goods firms in Nigeria. The findings suggest that neither human capital efficiency nor structural capital efficiency significantly influences ROE, indicating that other factors may be more critical in driving corporate performance in the Nigerian consumer goods sector. It was recommended that these firms invest in strategic employee training and development programs and optimize organizational structures and processes to enhance overall productivity and financial performance.