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Research Article |

Relational Capital Disclosure and Market Value of Selected Quoted Companies in Nigeria

This paper examined the relationship between relational capital disclosure and market value of selected quoted companies in Nigeria. Specifically, the study examined the relationship between customer service, distribution channels, strategic partnerships disclosure and market value. Ex-post facto design was employed as data were extracted from published audited annual financial reports of 32 sampled listed companies on the Nigerian Exchange Group for a period of ten (10) years covering 2013-2022. A disclosure checklist was adapted and modified in collecting data for the independent variables (customer service, distribution channels and strategic partnerships disclosure). Summary statistics was conducted to estimate mean, deviation, minimum and maximum values of the collected data. The data collected were also subjected to multicollinearity test via correlational matrix. Regression post estimation was conducted with the aid of heteroskedasticity test. Panel data analysis was employed and multiple regression analysis was conducted in which random effect model was found most appropriate to test the formulated hypotheses. The study found that customer service disclosure has negative and insignificant relationship with market value, while distribution channels and strategic partnership disclosure were found to have positive significant effects on market value. Therefore, the study recommends amongst others that relevant stakeholders should give maximum attention to distribution channels and strategic partnerships disclosure and make them mandatory disclosure requirement, while caution be taken on customer service disclosure and its disclosure should be voluntary in nature.

Relational Capital, Customer Service, Distribution Network, Strategic Partnerships, Market Value

Justin Iorakpen Iorun, Emmanuel Igbawase Abanyam, Michael Iorlaha. (2023). Relational Capital Disclosure and Market Value of Selected Quoted Companies in Nigeria . International Journal of Accounting, Finance and Risk Management, 8(4), 94-103.

Copyright © 2023 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License ( which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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