Relationship Between Intangible Assets and Value of Oil and Gas Firms in Nigeria
- Post by: airjournals
- November 20, 2022
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The main objective of the study is to evaluate relationship between intangible assets and value of oil and gas firms in Nigeria. The specific objectives of the study are to, analyze the relationship between goodwill and net assets of oil and gas firms in Nigeria. Examine the relationship between software and net assets of oil and gas firms in Nigeria. Ascertain the relationship between brands/trademarks and net assets value of oil and gas firms in Nigeria. A sample of five (5) oil and gas firms listed on Nigeria Stock Exchange during the period of 2011 to 2020 were selected for the study. Panel data were collected from the published annual accounts and financial statements of the selected firms while correlation analysis was used to analyze the data. Findings from the study suggest that the three independent variables of the study (goodwill, computer software and brands/trademarks) positively and strongly relate with net assets of the listed oil and gas firms during the period. The study recommended that oil and gas firms in Nigeria should develop business policies that will increase the goodwill of their firms. Some of the policies include lactation of production and business facilities in strategic places for easy access and marketing, good customer service for customer retention among others. It was also recommended that oil and gas firms in Nigeria should invest in modern computer software that will assist them in oil and gas exploration, mining and production. It will also assist the firms in the marketing and distribution of oil and gas. Finally, it was recommended that the firms should strive to develop strong brands and trademarks that will distinguish their products from the competitors’ products. This will among others assist the firms checkmate fake and adulterated products which are rampant in the Nigeria economy.
Keywords: Intangible Assets; Oil and Gas Firms; Nigeria; Net Assets Value; Goodwill
1Udeh, Anastasia Ifeoma, 2Prof. Okwo, Ifeoma Mary and 3Prof. Nwoha, Chike Ernest