Structural Capital, Relational Capital and Firm Value of Listed Consumer Goods Companies in Nigeria

The study examines the effect of structural and relational capital on the firm value of listed consumer goods companies in Nigeria from 2014 to 2023. Using longitudinalresearch design, firm value was measured by Tobins Q, and panel multiple regression analysis was employed to assess the relationships. The findings reveal that structural capital efficiency has a positive and significant effect on firm value, emphasizing the critical role of investments in infrastructure, technology, and intellectual property in enhancing operational efficiency and firm value. Conversely, relational capital efficiency exhibits a negative but insignificant effect on firm value, indicating that the current strategies for managing relationships with stakeholders do not significantly contribute to firm valuation. Based on these findings, the study concludes that structural capital efficiency has a positive significant effect on the firm value of listed consumer goods companies in Nigeria while relational capital efficiency, on the other hand, has a negative but insignificant effect on firm value. The study recommends prioritizing investments in structural capital while reassessing and improving relational capital management strategies to enhance the overall value of Consumer goods companies in Nigeria.