ABSTRACT

The study examined the effect of intellectual capital on the performance of listed manufacturing firms in Nigeria. The objectives of the study are: to determine the effect of Human Capital Efficiency on the Return of Asset of listed manufacturing firms in Nigeria. Also, : to examine the effect  of Structural Capital Efficiency on the Return of Asset of listed manufacturing firms in Nigeria To achieve the objectives of the study, ex-post facto research design method was adopted. Data was generated through NSE fact book of 2018. In testing the hypotheses, panel pooled regression analysis was used. The findings revealed that there is insignificant effect of the effect of human capital structure in listed manufacturing firms in Nigeria. The researcher therefore recommends among other things that government of Nigeria should realize that for Nigeria to attain the desired vision of being one of the strongest twenty economics of the world, the must be a radical transformation and development of intellectual capital base. Strong Nations of the world such as United States of America (USA) Japan and China attained such feats because of their level of investment and development of their intellectual capital base. Also, since human capital is critical for the success of firms in all industry, there should be a review of the educational policies and standards to encourage Public Private Partnership in training of high quality human capital. Beyond having adequate high quality human capital, human capital becomes ineffective if it operates in poorly resourced environment.

 TABLE OF CONTENT

Title page                                                                                                                    i

Declaration                                                                                                                  ii

Certification                                                                                                                iii

Dedication                                                                                                                  iv

Acknowledgements                                                                                                    v

Table of contents                                                                                                        vi

List of table’s                                                                                                              ix

CHAPTER ONE:  INTRODUCTION

1.1       Background to the Study                                                                              1

 1.2.     Statement of the problem                                                                               3

1.3.      Objectives of the study                                                                                   4

1.4.      Research questions                                                                                          4

1.5.      Research hypotheses                                                                                       4

1.6.      Significant of te study                                                                                                5

1.7.      Scope of the study                                                                                          5

1.8.      Limitations of the study                                                                                 6

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1.      Conceptual framework                                                                                   7

2.1.1.   Concept of government expenditure                                                              7

2.1.1.2. Capital expenditure                                                                                        8

2.1.1.3. Recurrent expenditure                                                                                    9

 2.1.2. Theory of Economic growth                                                                            9         

2.1.3.   Relationship between government expenditure and economic growth.         10

2.2.      Theoretical literature:                                                                                      13

 2.2.1.  Public expenditure theory                                                                               13

2.2.2    Economic growth theory                                                                                14

2.2.3.   The Keynesian theory:                                                                                    15

2.3.      Empirical review                                                                                             15

CHAPTER THREE: METHODOLOGY

3.1.      Research design                                                                                              19

3.2.      Area of the study,                                                                                           19

3.3.      Method of data collection                                                                              19

3.4.      Method of data analysis                                                                                 19

3.5.      Model specification                                                                                        20

CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND DISCUSSION

4.1.      Data presentation                                                                                            21

4.2.      Analysis and discussion on unit root test.                                                      23

4.3.      Results and discussion                                                                                    24

4.3.1.   Effect of Government Expenditure on Percentage change in Real

 Gross domestic product                                                                                             25

4.3.2.   Effect of governemnet cpapital expenditure on Real                                     30

 Gross Domestic Profuct

4.4.      Test of hypotheses                                                                                          34

4.4.1.   Test of hypothesis one                                                                                    34

4.4.2.   Test of hypothesis two                                                                                    35

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1.      Summary of findings                                                                                      36

5.2.      Conclusion                                                                                                      37

5.3.      Recommendations                                                                                          38

References                                                                                                      39

Appendix A                                                                                                    41

Appendix B                                                                                                    42