INTELLECTUAL CAPITAL AND BUSINESS SUCCESS AMONG OIL AND GAS FIRMS IN NIGERIA: CONTINGENT EFFECTS OF HO STILE ENVIRONMENT

Abstract

In an increasingly volatile global economy, firms operating in resource-dependent sectors such as oil and gas face

multifaceted environmental challenges that shape organizational outcomes. This conceptual paper examines the

relationship between intellectual capital (IC) and business success among oil and gas firms in Nigeria, with a

particular focus on the moderating role of a hostile environment. However, the effectiveness of these resources is

argued to depend significantly on environmental conditions characterized by uncertainty, regulatory instability,

insecurity, and market volatility. Therefore, this study proposes a conceptual framework that integrates intellectual

capital and hostile environmental factors in explaining variations in business success. The paper contributes to the

literature by extending IC research into a high-risk sector within a developing economy and by introducing

environmental hostility as a critical boundary condition.