INTELLECTUAL CAPITAL EFFICIENCY AND FINANCIAL PERFORMANCE: A STUDY OF LISTED ICT COMPANIES IN NIGERIA

This study ascertained the effect of intellectual capital efficiency on financial performance of listed ICT companies in Nigeria, using structural capital efficiency and innovation capital efficiency to measure the independent variable (intellectual capital), while return on assets was used for financial performance. Ex post facto research design was adopted for the study. Panel least square regression was employed to test the hypotheses. The result indicates that structural capital efficiency has a negative and significant effect on return on assets of listed ICT companies in Nigeria. On the other hand, the study found that innovation capital efficiency has a positive and insignificant effect on return on assets of listed ICT companies in Nigeria. This study therefore recommended among others that companies should capitalize more on its innovation capital to sufficiently improve its ROA, which is a measure of corporate financial performance