Research Article

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

Abdulazeez E. Ismaila1*, Suleiman A .S Aruwa2, Jacob O. Ame3
1 Department of Accounting, Federal University Lokoja. Kogi State
2 Department of Accounting, Nasarawa State University Keffi, Nasarawa State.
3 Department of Accounting, Nasarawa State University Keffi, Nasarawa State
* Corresponding author: abdulazeez.ismaila@fulokoja.edu.ng
Published: Jul, 2025
DOI: 10.67862/nahj.2025.fis5wjoc
Pages: 1-13

Abstract

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.

Keywords

Intellectual capital financial performance and Fintech companies.

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How to Cite

Ismaila, A. E., Aruwa, S. A. .., & Ame, J. O. (2025). Effect of Intellectual Capital on Financial Performance of Listed Fintech Companies in Nigeria. Nigerian Accounting Horizon Journal, 10(1), 1-13. https://doi.org/10.67862/nahj.2025.fis5wjoc

A. E. Ismaila, S. A. .. Aruwa, and J. O. Ame, "Effect of Intellectual Capital on Financial Performance of Listed Fintech Companies in Nigeria," Nigerian Accounting Horizon Journal, vol. 10, no. 1, pp. 1-13, July 2025. doi: 10.67862/nahj.2025.fis5wjoc

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