IDEAS home Printed from https://ideas.repec.org/a/jfr/ijfr11/v3y2012i4p116-126.html
   My bibliography  Save this article

The Impact of Human Capital Cost on Gross Domestic Product (GDP) in Nigeria

Author

Listed:
  • Sunday O. Effiok
  • Arzizeh Tiesieh Tapang
  • Okon E. Eton

Abstract

This study aimed at determining the extent to which human capital cost influences gross domestic product in Nigeria. Hitherto, human resource was treated as expenses and written off in profit and loss account. No recognition was given to the skills of labour in human resource accounting and recently in intellectual capital. The research adopted a survey design for the study. The data collected were tabulated and analyzed using the Ordinary Least Square (OLS). The study revealed that human capital costs mirrored by acquisition, development, remuneration and protection costs do affect significantly gross domestic product in Nigeria. The study recommended that there is urgent need for the installation and maintenance of total quality management in Nigeria to enable it remains competitive in the global market. This is because employee¡¯s education, training and development are the key vehicle for building the economy and employee¡¯s capabilities. Finally, government should try to understand and appreciate the value of human capital as it is the most important determinant of it success.

Suggested Citation

  • Sunday O. Effiok & Arzizeh Tiesieh Tapang & Okon E. Eton, 2012. "The Impact of Human Capital Cost on Gross Domestic Product (GDP) in Nigeria," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 3(4), pages 116-126, October.
    • Handle: RePEc:jfr:ijfr11:v:3:y:2012:i:4:p:116-126
    as

    Download full text from publisher

    File URL: http://www.sciedu.ca/journal/index.php/ijfr/article/view/1856/935
    Download Restriction: no
    File URL: http://www.sciedu.ca/journal/index.php/ijfr/article/view/1856
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Williamson, Oliver E, 1979. "Transaction-Cost Economics: The Governance of Contractural Relations," Journal of Law and Economics, University of Chicago Press, vol. 22(2), pages 233-261, October.
    2. John Paul Macduffie, 1995. "Human Resource Bundles and Manufacturing Performance: Organizational Logic and Flexible Production Systems in the World Auto Industry," ILR Review, Cornell University, ILR School, vol. 48(2), pages 197-221, January.
    3. Williamson, Oliver E, 1981. "The Modern Corporation: Origins, Evolution, Attributes," Journal of Economic Literature, American Economic Association, vol. 19(4), pages 1537-1568, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tasawar Nawaz, 2019. "Exploring the Nexus Between Human Capital, Corporate Governance and Performance: Evidence from Islamic Banks," Journal of Business Ethics, Springer, vol. 157(2), pages 567-587, June.
    2. Charles E. Bryant & Rajshekhar G. Javalgi, 2016. "Global Economic Integration in Developing Countries: The Role of Corruption and Human Capital Investment," Journal of Business Ethics, Springer, vol. 136(3), pages 437-450, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bassey Eyo Bassey & Arzizeh Tiesieh Tapang, 2012. "Capitalized Human Resources Cost and Its Influence on Corporate Productivity: A Study of Selected Companies in Nigeria," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 3(2), pages 48-59, April.
    2. Sharon Novak & Scott Stern, 2009. "Complementarity Among Vertical Integration Decisions: Evidence from Automobile Product Development," Management Science, INFORMS, vol. 55(2), pages 311-332, February.
    3. Christian Cordes & Stephan Müller & Georg Schwesinger & Sarianna M. Lundan, 2022. "Governance structures, cultural distance, and socialization dynamics: further challenges for the modern corporation," Journal of Evolutionary Economics, Springer, vol. 32(2), pages 371-397, April.
    4. Iavor Marangozov, 2005. "From Practice to Theory of the International Joint Ventures," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 44-77.
    5. Monica A. Altamirano & Cees P. van Beers, 2018. "Frugal Innovations in Technological and Institutional Infrastructure: Impact of Mobile Phone Technology on Productivity, Public Service Provision and Inclusiveness," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 30(1), pages 84-107, January.
    6. Tomas Klos, 1999. "Governance and Matching," Computing in Economics and Finance 1999 341, Society for Computational Economics.
    7. Christian Cordes & Peter J. Richerson & Richard McElreath & Pontus Strimling, 2006. "How Does Opportunistic Behavior Influence Firm Size?," Papers on Economics and Evolution 2006-18, Philipps University Marburg, Department of Geography.
    8. Shelby D. Hunt, 2012. "Trust, Personal Moral Codes, and the Resource-Advantage Theory of Competition: Explaining Productivity, Economic Growth, and Wealth Creation," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 6(2), June.
    9. Jacqueline Christensen & Pamela Kent & Tom Smith, 2016. "The decision to outsource risk management services," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 56(4), pages 985-1015, December.
    10. Jürgen Bruns & Rüdiger Kabst, 2005. "Interim-Management: A Paradox for Leadership Research?," management revue - Socio-Economic Studies, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 16(4), pages 512-524.
    11. Schwesinger, Georg & Müller, Stephan & Lundan, Sarianna M., 2016. "Governance Structures, Cultural Distance, and Socialization Dynamics: Further Challenges for the Modern Corporation," VfS Annual Conference 2016 (Augsburg): Demographic Change 145907, Verein für Socialpolitik / German Economic Association.
    12. Joseph E. Stiglitz, 2002. "Demokratische Entwicklungen als Früchte der Arbeit (-erbewegung)," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 28(1), pages 9-41.
    13. Essiane, Patrick-Nelson Daniel, 2020. "De l'Ancienne Economie Institutionnelle à la Nouvelle Economie Institutionnelle: une introduction à quelques débats [Old Institutional Economics and New Institutional Economics: an Introduction to ," MPRA Paper 102858, University Library of Munich, Germany.
    14. Sakakibara, Mariko & Serwin, Kenneth, 2000. "U.S. Distribution Entry Strategy of Japanese Manufacturing Firms: The Role of Keiretsu," Journal of the Japanese and International Economies, Elsevier, vol. 14(1), pages 43-72, March.
    15. Schmidt, Matthias, 2005. ""Whistle Blowing" Regulation and Accounting Standards Enforcement in Germany and Europe--An Economic Perspective," International Review of Law and Economics, Elsevier, vol. 25(2), pages 143-168, June.
    16. Dow,Gregory K., 2019. "The Labor-Managed Firm," Cambridge Books, Cambridge University Press, number 9781107589650, September.
    17. Klos, Tomas B. & Nooteboom, Bart, 1997. "Adaptive governance: the role of loyalty," Research Report 97B53, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    18. Erin Anderson, 2008. "The Salesperson as Outside Agent or Employee: A Transaction Cost Analysis," Marketing Science, INFORMS, vol. 27(1), pages 70-84, 01-02.
    19. A J Scott & D P Angel, 1987. "The US Semiconductor Industry: A Locational Analysis," Environment and Planning A, , vol. 19(7), pages 875-912, July.
    20. Todorova, Tamara, 2022. "Оливър Уилямсън: Новатор На 20 Век И Основател На Новата Институционална Икономика [Oliver Williamson: an innovator of the 20th century and founder of the new institutional economics]," MPRA Paper 121077, University Library of Munich, Germany.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:jfr:ijfr11:v:3:y:2012:i:4:p:116-126. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gina Perry (email available below). General contact details of provider: http://ijfr.sciedupress.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.