“…From the theoretical idea of RBV and the KBV as a basis for the competitive advantage of a firm through the application of a bundle of valuable resources (Penrose, 1959), an ample number of studies from Europe (Bozbura, 2004;Kujansivu and Lonnqvist, 2007;El-Bannany, 2008;Zéghal and Maaloul, 2010;Bontis et al, 2015;Dženopoljac et al, 2016;Sardo and Serrasqueiro, 2017), Africa (Firer and Williams, 2003;Uwuigbe and Uadiale, 2011;Sherif and Elsayed, 2016;Alhassan and Asare, 2016;Asare et al, 2017;Anifowose et al, 2018), Asia (Iswati and Anshori, 2007;Mondal and Ghosh, 2012;Lu et al, 2014;Yeganeh et al, 2014;Kamath, 2015) and Australia (Clarke et al, 2011;Joshi et al, 2010) have been carried out in assessing the influence of IC on a firm's performance. These studies adopted a three-dimensional framework to analyse IC which includes human, capital employed and structural capital based on Pulic (2001) VAIC model which is one of the most widely used model for IC valuation.…”