HUMAN CAPITAL COST ACCOUNTING AND MARKET VALUE OF NIGERIAN LISTED INSURANCE COMPANIES

Abstract

The study empirically examined the relationship between human capital cost accounting and market value of Nigeria listed insurance companies. Four research questions were answered in the study with four null hypothesis that were formulated and tested at 0.05 level of significance. The study adopted the expo-facto quasi-experimental design. Secondary data were extracted from Nigeria stock exchange official records. Online statistical data base for twenty (20) insurance companies which were analyzed using Stata version 15 software with a panel data regression model ranging from 2005-2020 were documented. The population was all the listed insurance companies in Nigeria. Purposive sampling technique was used to select twenty (20) insurance company based on available data. The result of the findings shows that there is positive a significant relationship between   welfare costs on earnings per share. Training cost has positive significant relationship on dividend yield, welfare cost has positive significant relationship on dividend yield. Based on the findings of the study it was recommended among others that Nigerian listed Insurance companies should minimize their human capital investment in order to create optimality by increasing their Earnings per Share. Human capital should include all the expenses incurred on enhancing knowledge, education, expertise and skills of employees, Therefore, there is need for Nigerian listed Insurance companies to engage highly trained staff with highly paid Salaries and Wages in order to boasts the overall market value. By so doing will enhance Nigerian listed Insurance companies to sustained competitiveness.