Investment in advanced technology in manufacturing sector may involve a huge amount but seems to be cheaper in the long run when compared to intensive use of labour. Unlike human, machine does not need motivation and other incentives to function well. Also, machine has no feelings to react to changes in the organisation. Human being tends to demand more wages when there is increase in the revenue in their organisations. In light of the foregoing, this study set out to specifically examine the influence of advanced technology on performance of firms and the relationship between labour cost and firm’s performance. The hypotheses were tested at 0.05 significance level that is 95% confidence level. Data was collected from secondary tools, literature on prior work, including studies and survey reports. With EViews 10.0 version, the data collected was analysed using Panel Least Squares regression method. The study examined thirteen (13) industrial goods producers firms listed in the Nigerian Stock Exchange from 2010-2018, that is, nine (9) years period. This study concludes that advanced technology has positive and significance effect on performance of manufacturing firms. The study also concludes that use of intensive labour has significant but negative relationship with firm performance. This study recommends that companies’ managers should make adequate provisions for investment in advanced and modern technology when preparing management accounting for the company. The study also recommend that manufacturing firms should invest in advance and modern technology to improve operating efficiency, reduce operating costs and reduce delivery costs.
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