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IMPACT OF INTELLECTUAL CAPITAL ON THE PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
ABSTRACT
Today’s high-tech, informational, and innovation-based environments have significantly changed how and where businesses are conducted around the world. The degree of financial performance of business organizations is also determined by this new technology, which of course makes use of high levels of intellectual capital. Some businesses that previously received very high ratings for their profitability and other financial performances are now receiving very low ratings simply because they have not adopted this technology with an intellectual foundation. In order to ascertain whether the variations in the financial performance indices of nine (9) highly rated deposit money banks in Nigeria could be explained by the variations in the deposit money banks’ intellectual capital variables, this study compares both the intellectual capital indices and the financial performance variables using the Value-Added Intellectual Coefficient (VAIC) model. The ex-post facto research design was used in the study. It was methodically carried out using data from annual reports and accounts of the chosen Nigerian deposit money banks from 2010 to 2021. The study used the descriptive and inferential method of analysis with the SPSS statistical tool (version 26.0). The findings of the study reveals that the intellectual capital construct which includes structural capital efficiency and capital employed efficiency has a positive and significant impact on financial performance of the selected DMBs with ROA at p-value = 0.008 < 0.05, with ROE at p-value =0.000 < 0.05, and EPS at p-value = 0.052=0.05. The study recommended that the DMBs in Nigeria should identify and evaluate the role of knowledge in the company. This means that management should determine on how knowledge intensive the business is. Also banks in Nigeria should establish which aspects of their employee training programs actually enhance productivity and which are misdirected and worthless.
KEYWORDS: Intellectual Capital, Financial Performance, Nigerian Deposit Money Banks, VAIC