Date of Conferral



Doctor of Business Administration (D.B.A.)




Frank Bearden


In the industrial structure of Nigeria, lack of profitability, scarcity of human capital, and low productivity have resulted in the failure of many business organizations. Business leaders must maintain profitability to continue funding their business organizations in the future. Grounded in human capital theory, the purpose of this quantitative correlational study was to examine the relationship between human capital, productivity, and profitability among organizations listed on the Nigerian Stock Exchange. Archival data records (N = 836) between 2005 and 2019 were examined. The overall multiple linear regression model was able to significantly predict profitability: F (2, 833) = 79.35, p < .01, R2 = .158. Human capital was statistically significant (t = 12.548, p < .01, β = .400); productivity was not significant. A key recommendation for organizational leaders and policymakers in Nigeria is to increase higher education and general knowledge investments to improve the quality of human capital in the country, particularly in the services, construction, and information technology industries. Implications for positive social change include the potential for increased profitability and sustainability of organizations listed on the Nigerian Stock Exchange, which will be better equipped to compete globally through a skilled, well-educated workforce.

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