Human Capital Investment and Performance of Quoted Manufacturing Companies in Nigeria

Onyinye M. Eneh, Iheanyi O. Anyahara, Arinze E. Anaege and Onyekachi A. Inweregbu
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Onyinye M. Eneh: Department of Accountancy, Nnamdi Azikiwe University, Awka, Nigeria
Iheanyi O. Anyahara: Directorates of Accounting Standards, Financial Reporting Council of Nigeria
Arinze E. Anaege: Department of Accounting, Kingsley Ozumba Mbadiwe University, Ideato, Nigeria
Onyekachi A. Inweregbu: Department of Accounting, Kingsley Ozumba Mbadiwe University, Ideato, Nigeria

International Journal of Research and Innovation in Social Science, 2025, vol. 9, issue 3s, 3613-3626

Abstract: The study investigates the influence of investment in human capital on the listed manufacturing firms’ financial performance in Nigeria. Adopting an ex-post facto design, the study examined the experience of 38 listed manufacturing firms during the period 2014-2023. The study specifically examined the influence of the efficiency of human capital and employees’ compensation on the return on assets and the operation expenses. The firms’ annual reports provided the source of the data that were analyzed using descriptive correlation analysis and least square regression analysis. The findings of the study identify that HCE has a positive and significant influence on the ROA (β = 1.5329, p

Date: 2025
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