Research Article

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

ANTHONY Chika1*, SAMUEL Iyere1, ABUBAKAR Halimatu1
1 Department of Accounting Faculty of Administration Nasarawa State University, Keffi
* Corresponding author: chikaanthony261@gmail.com
Published: Jul, 2025
DOI: 10.67862/nahj.2025.zjhxvdjc
Pages: 14-27

Abstract

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.

Keywords

Structural Capital Relational Capital Firm Value Consumer Goods Companies.

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How to Cite

Chika, A., Iyere, S., & Halimatu, A. (2025). Structural Capital, Relational Capital and Firm Value of Listed Consumer Goods Companies in Nigeria. Nigerian Accounting Horizon Journal, 10(1), 14-27. https://doi.org/10.67862/nahj.2025.zjhxvdjc

A. Chika, S. Iyere, and A. Halimatu, "Structural Capital, Relational Capital and Firm Value of Listed Consumer Goods Companies in Nigeria," Nigerian Accounting Horizon Journal, vol. 10, no. 1, pp. 14-27, July 2025. doi: 10.67862/nahj.2025.zjhxvdjc

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