CONCLUSION
The pivot research issue of this paper was to investigate the structural
links and resulting impacts of CS measures on IC efficiency (VAIC) and
IC efficiency on the firm’s financial performance. The study was
situated to conclude that CS – IC – Financial Performance relationship
through empirical investigation. The path coefficient values (β) confirm
the premise that there is a high negative correlation between leveraged
CS measures, IC efficiency though at statistically insignificant level.
Also, a positive link was found between IC efficiency and corporate
Financial Performance of listed Banks
This paper concludes that banks with high level of IC efficiency can
generate greater corporate values like profitability, returns on
investment and Earnings per share while reducing the negative impact
associated with high leverage in their capital structure. The latter
conclusion is consistent with work of Aslam et al (2014), Ekwe (2013)
and Mankiw, et al (1992). IC to CS concurred with the work of Yang and
Lin, (2009); Badinger and Tondl (2005), Chen et al., (2005);
Radhakrishnan, (2003).
Given the fact that the study is the first of its kind to use these
dimensions, method of analyses and VAIC adjusted model in Nigeria, the
outcome should be cautiously used until further contributions to the
discourse are made. This study is a single sub-sector and country study,
its further expansion and in terms industry, data period and
country-economic status may may create new dynamics in future study.