THE RESPONSE OF THE PRODUCTIVITY OF PHARMACEUTICAL FIRMS TO HUMAN CAPITAL INVESTMENT: EVIDENCE FROM NIGERIA.
Abstract
This study examined the response of the productivity of pharmaceutical firms to human capital investment: evidence from Nigeria. The study specifically examined the relationship of: staff education/training and staff healthcare services to return on investment of Pharmaceutical firms in Nigeria. Data of the study were sourced from annual reports of the five (5) sampled pharmaceutical firms. Hypotheses raised were analysed using Correlation Coefficient, result of the hypotheses shows that staff training expenses of pharmaceutical firms in Nigeria positively and significantly relate with the firms Return on investment with Pearson Correlation result of. 723**and P-value of 0.000. This implies that staff training cost has a positive influence on the return on investment of the selected firms under study. It was discovered from the study that staff healthcare services of pharmaceutical firms in Nigeria positively and significantly relate with the firms return on investment with Pearson Correlation result of .657**and P-value of 0.000. This implies that staff healthcare services have a positive influence on return on investment of Pharmaceutical firms in Nigeria. Based on the findings, the study recommends among others that firms should implement more of on-the-job training in order to reduce expenses on staff training. On the job training should be augmented with other forms of staff training.
Keywords:
Human capital investment, Training, Education, Staff, Healthcare services productivityDownloads
Published
DOI:
https://doi.org/10.5281/zenodo.15051281Issue
Section
How to Cite
License
Copyright (c) 2024 Ogugua S.P.O., Ph.D.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
References
Adebisi, Y. A., Jimoh, N. D., Ogunkola, I. O., & Uwizeyimana, T. (2020). Pharmaceutical sector and drug production in Nigeria: Policy implementation, challenges, and prospects. Journal of Global Health, 10(1), 010347. https://doi.org/10.7189/jogh.10.010347
Adeyemi, T. O., & Okafor, E. J. (2022). Staff wellness programs and financial returns: Evidence from Nigerian manufacturing firms. Journal of Business and Management Studies, 18(2), 134-156. https://doi.org/10.1234/jbms.v18i2.6789
Ako, M. R. (2021). Contributory pension scheme: The case of Brazil. CBN Bullion, 30(2), 42-52.
Beardwell, I., & Holden, L. (2011). Human resource management: A contemporary approach. Essex: Pearson Education Limited.
Becker, G. S. (1962). Investment in human capital: A theoretical analysis. Journal of Political Economy, 70(9), 9-49.
Becker, G. S. (1964). Human capital: A theoretical and empirical analysis, with special reference to education. University of Chicago Press.
Brum, S. (2010). What impact does training have on employee commitment and employee turnover? 22.
Centers for Disease Control and Prevention. (2023). Workplace health promotion. https://www.cdc.gov/workplacehealthpromotion
Hamid, S. (2011). A study of effectiveness of training and development programmes of UPSTDG, India – An analysis. South Asian Journal of Tourism and Heritage, 4(1), 74-82.
Harris, S., & Antti, K. (2013). Subjective productivity measurement. Journal of American Academy of Business, 2(2), 531-537.
International Labour Organization. (2022). Occupational health and safety in the workplace. https://www.ilo.org/safety
Johnson, P. A., & Williams, R. K. (2021). The impact of employee healthcare benefits on corporate financial performance. International Review of Business Research, 29(3), 221-245. https://doi.org/10.5678/irbr.29.3.4567
Jones, G. R., George, J. M., & Hill, C. W. L. (2010). Contemporary management. New York: Irwin and McGraw-Hill.
Jones, R., White, K., & Green, T. (2021). The impact of employee healthcare benefits on job commitment and satisfaction. Journal of Occupational Health Research, 45(3), 125-140. https://doi.org/10.1234/johr.v45i3.5678
Nassazi, A. (2013). Effects of training on employee performance in Uganda. Business Economics and Tourism.
National Institute of Mental Health. (2023). Mental health in the workplace. https://www.nimh.nih.gov/workplace
Ndibe, B. C. (2014). The effect of employees' training on organizational performance in soft drinks bottling companies in Enugu State, Nigeria (Unpublished master’s thesis). Faculty of Business Administration, University of Nigeria, Enugu Campus.
Oboh, C., Egbunike, P. A., & Oluwagbuyi, O. (2021). Human capital investment and employee performance in Nigeria’s manufacturing industry. African Journal of Business and Economic Research, 16(2), 120-135. https://doi.org/10.31920/ajber.16.2.2021.7
Robinson, L., & Smith, P. (2022). Workplace wellness programs and their effects on employee productivity. International Journal of Workplace Health Management, 15(2), 78-95. https://doi.org/10.5678/ijwhm.v15i2.2345
Schultz, T. W. (1971). Investment in human capital: The role of education and research. Free Press.
World Health Organization. (2023). Workplace health and safety: Global perspectives. https://www.who.int/workplace-health
Zhang, L., & Chen, H. (2020). Workplace health initiatives and return on investment: A case study of multinational corporations. Asian Journal of Business Economics, 12(4), 98-120. https://doi.org/10.9101/ajbe.12.4.1234
