HUMAN RESOURCE ACCOUNTING AND FINANCIAL PERFORMANCE OF SELECTED MANUFACTURING FIRMS IN NIGERIA
Keywords:
Financial Performance, Human Resources, Human Resource AccountingAbstract
The essence of this work is to examine human resource accounting and financial performance of selected manufacturing firms in Nigeria from 2014 to 2024. Human resource accounting was disaggregated into staff training and development, salaries and welfare and pension cost while Return on investment, profit after tax and return on assets were used as proxies for the performance of the selected manufacturing firms. The objectives of the study were developed along the line of the identified variables. Nine hypotheses were formulated in line with the objectives of the study and secondary data were collected for the variables based on the assertions of the hypotheses. The data were analyzed using multiple regression analysis, ordinary least square model (OLS) and t-statistics employed in testing the hypotheses. It was observed that, human resource has significant effect on the financial performance of manufacturing firms in Nigeria. Staff Training & Development cost has positive and insignificant effect on return on investment (ROI)., while staff Training & Development cost has negative and significant effect on profit after tax (PAT) and return on assets (ROA). Pension cost has negative and significant effect on return on investment (ROI) and positive and insignificant effect on profit after tax (PAT) and return on assets (ROA-). The study recommended that firms should consider cost benefit approach in their recruitment, training and employee welfare development in order not to lower the company’s profit.
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