EFFECT OF OWNERSHIP STRUCTURE ON INTELLECTUAL CAPITAL DISCLOSURE OF LISTED CONSUMER GOODS FIRM IN NIGERIA

Abstract

This study examines the relationship between ownership structure and the disclosure of intellectual capital information by listed consumer goods firms in Nigeria. Specifically, the study investigates the influence of managerial ownership and ownership concentration, on the extent of intellectual capital disclosure from 2016-2025. The analysis is based on a sample of 21 publicly listed consumer goods firms in Nigeria. Data was collected from the firms' annual reports and financial databases for 10 years. Multiple panel regression and the Hausman specification test were conducted to choose between fixed and random effects. The result favours the fixed effect regression analysis of hypothesized relationships, and the variance inflation factor (VIF) was calculated to assess the potential issue of multicollinearity. The findings indicate that managerial ownership is positively and significantly associated with the level of intellectual capital disclosure, while ownership concentration has a negative and significant relationship. The study contributes to the existing literature by providing empirical evidence on the role of corporate governance in shaping intellectual capital disclosure practices. The findings have important implications for policymakers, regulators, and corporate decision-makers in promoting effective corporate governance structures and disclosure practices that enhance the transparency and accountability of intellectual capital reporting