HUMAN CAPITAL ASSET AND FINANCIAL PERFORMANCE OF LISTED CONSUMER GOODS MANUFACTURING COMPANIES IN NIGERIA

Abstract

The study investigated the effect of human capital assets on the financial performance of listed consumer goods manufacturing companies in Nigeria. The study collected secondary data using expost facto research design listed consumers goods manufacturing companies in Nigeria Exchange Group from 2015 to 2024. Eight of the consumer goods manufacturing companies were used as sample of this study using purposive sampling techniques. The method of data analysis was descriptive statistic, unit root test, diagnostics test and panel least square (PLS) with the help of Eview v10. Findings revealed, there is a positive and insignificant effect of training and development cost on return on assets of listed consumer goods manufacturing companies in Nigeria. There is positive and significant effect of health safety cost on return on assets of listed consumer goods manufacturing companies in Nigeria. There is a negative and significant effect of training and development cost on net profit margin of listed consumer goods manufacturing companies in Nigeria. There is positive and significant effect of health safety cost on net profit margin of listed consumer goods manufacturing companies in Nigeria. Therefore,  the study concluded that the effect of human capital assets on financial performance of listed consumer goods manufacturing companies in Nigeria is statistically significant for the period spanning from 2015 - 2024. The study recommended, among others, that; capitalizing human assets such as training and development costs would positively impact on performance of banks. Therefore, its disclosure is recommended as intangible asset in the statement of financial position.