Intangible Relational Capital and the Success of Entrepreneurship Firms in Nigeria: A Second Look

Regina G. Okafor


This study used data collected from 20 SMEs operating in Anambra and Enugu states of Nigeria to evaluate theimpact of relational capital on the success of firms. The multiple regression analysis was the main statisticaltool used to test the relationship between a dependent variable (success) and a set of five independent variables(relations with customers and suppliers, informal relations, reputation, location and ties with external bodiesincluding government). The results indicate that only the variables concerned with relationship with customersand suppliers and those relating to ties with external bodies made significant contributions to the success of firms(t=7.549, p<.01); and (t=5.107, p<.01) respectively. Result also shows that R2 =.534 indicating that the set ofindependent variables accounts for slightly more than half of the explanation of the success of firms in thesample. The paper recommends that more future research efforts should be invested to develop other reliablemeasures and measurements of relational capital given its significant impact evident in this study.

Key Words: Relational Capital, Intellectual Capital, Value added, Competitive advantage, Firm success

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