CORPORATE REPUTATION AND FIRM PERFORMANCE OF LISTED CONSUMER GOODS COMPANIES IN NIGERIA

Abstract

This study examined the impact of corporate reputation on the performance of listed consumer goods firms in Nigeria. The study adopted an ex post facto research design, utilizing secondary data from audited annual reports of 18 purposively sampled firms over the period 2014–2023. Panel data analysis using Estimated Generalized Least Squares (PEGLS) was employed to test the relationships among variables. The findings revealed that financial market reputation, intangible value reputation, and customer reputation significantly and positively influence firm performance, indicating that strong market signals, robust intangible assets, and customer loyalty serve as key drivers of profitability. In contrast, social reputation and shareholders’ reputation, exhibited positive but statistically insignificant effects on ROA, suggesting that longevity, CSR activities, shareholder returns, and scale alone are insufficient to guarantee superior performance. The study concludes that corporate reputation exerts varying degrees of impacts on performance in the Nigerian consumer goods sector. The study stresses the need for firms to strategically leverage market credibility, intangible resources, and customer relationships, and offers insights for managers, investors, and policy makers seeking sustainable profitability and competitive advantage.