هدف این مطالعه بررسی تأثیر اطلاعات حسابداری سرمایه انسانی بر ارزش بازار شرکت ها، با اشاره ویژه به بخش مواد مصرفی از شرکت های تولیدی عرضه شده در بورس اوراق بهادار نیجریه می باشد. مطالعه به طور کلی بر اساس داده های ثانویه به عنوان منبع اصلی داده ها متکی بود. از آمار توصیفی برای توصیف و خلاصه کردن رفتار متغیرها در این مطالعه استفاده شده است. فرضیه ها با استفاده از رگرسیون حداقل مربعات مرتبه ای مورد آزمون قرار گرفتند. و برای بررسی رابطه بین متغیرها، ضریب همبستگی پیرسون مورد استفاده قرار گرفت.

آماره های جارک-برا (آزمون نرمال بودن) نیز برای تعیین تاثیر متغیرهای مستقل (پاداش مدیریت، هزینه های بهداشتی و امنیتی، هزینه های گردش نیروی کار و مزایای بازنشستگی) بر متغیر وابسته (اطلاعات حسابداری سرمایه انسانی) مورد استفاده قرار گرفت. نتایج تجزیه و تحلیل نشان داد، تنها افشای مدیریتی و هزینه های امنیتی و بهداشتی تأثیر منفی بر سود حاصل از هر سهام (Eps) شرکت های نمونه گیری شده ما داشته است. بنابراین توصیه می شود که به دارایی های سرمایه انسانی بها داده شود و آن را به عنوان یک ارزش در صورت های مالی برای جداسازی هزینه ها از سایر هزینه های سرمایه ای منعکس کنند چون سرمایه انسانی کل نیروی کار را تغییر می دهد و راه هایی برای دستیابی به موفقیت های بیشتر در ارزش شرکت ها است.

Abstract

This study aims to investigate the effect of Human Capital Accounting Information on the Market Value of firms, with particular reference to the consumables sector of quoted manufacturing firms on the Nigerian Stock Exchange. The study relied primarily on secondary data as the main source of data. Descriptive statistics was used to describe and summarize the behaviour of the variables in the study. The hypotheses were tested using Ordinal Least Square Regression and in examining the association among the variables, Pearson Correlation Coefficient was employed.

Jarque-Bera (JB) Statistics (normality test) was also used to ascertain the impact of independent variables (management remuneration, health and security cost, labour turnover cost and retirement benefits) on our dependent variable (human capital accounting information). From the results of analysis only managerial disclosure and health and security costs were found to have a negative effect on our sampled companies’ Earnings Per Share (EPS). Therefore, it was recommended that there is need to value Human Capital Assets and that it will be reflected as a value in the Financial Statements to disintegrate the cost from other capital expenditure since human capital transforms the entire workforce and paves ways for greater achievements in firms value.

INTRODUCTION

Historically, we find in Singh and Singh (2009) that the first attempt to value human beings in monetary terms was carried out by Sir William Petty (1623-1687). Most manufacturing companies posit that the most important corporate resource will be human capital, as it is the premier source of future competitive advantage for a firm (Gnyawali and Offstein 2008). With materials, machines and money, little or nothing may be achieved without human capital contributions (Olaniyan and Lucas, 2008). Numerous firms have invested heavily in human resource capacity and have applied human resources accounting in one way or the other.

Most of these investments ranged from training and retraining of quality staff, managerial remuneration, recruitment and selection cost, health and safety cost, labor turnover cost, etc, do not always reflect in the statement of financial position of these various organizations. However, they are charged against revenue for the period to reduce income and by extension the value of the business. The investments in human capital development by these companies are normally not reflected in the statements of financial position as assets but expressed in the expense account as routine financial expenses.

Flamholtz and Lucey (1981) in their research work articulated that all costs which are made purposively to induce, monitor and retain human capital in an organization constitutes human capital investments with the anticipation of future returns. These returns may however come in the form of an enhanced market value if human capital cost is treated as investments in the financial statements.

However, the major challenge encountered in the recognition of human resource as an asset depends largely on its characteristics, quantification in monetary terms, the method of reporting and its effects on the market value of organizations. Thus, based on the above background, the researchers seek to clearly elucidate the effect of human resource accounting information on the market value of quoted manufacturing firm in Nigeria.