Effect of Intellectual Capital on Financial Performance of Listed Fintech Companies in Nigeria

This study examines the effect of intellectual capital on the financial performance of listed fintech
companies in Nigeria from 2014 to 2023. Employing an ex-post-facto research design with a cross
sectional approach grounded in positivist philosophy, the study explores the relationship between
intellectual capital and financial performance. Intellectual capital is measured using Human
Capital Efficiency, Structural Capital Efficiency, and Capital Employed Efficiency, while financial
performance is proxied by Return on Investment (ROI).The study population comprised eight listed
fintech companies in Nigeria, with a purposive sample of six listed companies in Nigeria based on
data availability. Data analysis was conducted using panel regression with Stata 17. Findings
indicate a significant positive relationship between Human Capital Efficiency and financial
performance. Similarly, Structural Capital Efficiency significantly influences ROI. However, while
Capital Employed Efficiency exhibited a positive effect, its impact on ROI was statistically not
significant The results highlight the critical role of human and structural capital in driving
financial performance in the fintech sector. The study underscores the need for firms to prioritize
investment in intellectual capital to enhance competitiveness. Future research is recommended to
explore contextual factors influencing Capital Employed Efficiency in relation to financial
performance.