MEDIATING EFFECT OF INTELLECTUAL CAPITAL ON THE RELATIONSHIP BETWEEN BOARD ATTRIBUTES AND FINANCIAL PERFORMANCE OF LISTED NON-FINANCIAL FIRMS IN NIGERIA

The study investigates the mediating effect of intellectual capital on the relationship between board attributes and the financial performance of listed non-financial firms in Nigeria. The study employed board size, board independence, board meeting, board gender, and board expertise as measures of board attributes, while intellectual capital is measured using the Modified Value Added Intellectual Capital Coefficient (MVAIC). The study adopts a correlational research design and positivist research philosophy. The population of the study covers 107 listed non financial firms in Nigeria for the period of 11 years from 2012 to 2022. The study selects 58 listed non-financial firms in Nigeria as the sample size using a filtering technique. The findings revealed that the proportion of female directors and the number of board meetings have a positive effect on intellectual capital efficiency. In contrast, the size of the board of directors has a significant negative effect on intellectual capital efficiency. Furthermore, the results indicate that intellectual capital efficiency mediates the relationship between board size and ROE, mediates the relationship between the number of board meetings and financial performance, as well as the proportion of female directors and financial performance. It is recommended that directors of listed non-financial firms and managers should focus on intellectual capital in developing plans and strategies regarding board size, board meetings, and board gender.