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In e na ional Jou nal o Social and Educa ional Inno a ion
Vol. 12, Issue 23, 2025
ISSN (p in ): 2392 – 6252
eISSN (online): 2393 – 0373
DOI: 10.5281/zenodo.17257164
ASSET-LIABILITY MANAGEMENT AND BANK SURVIVAL
OF SELECTED DEPOSIT MONEY BANKS IN NIGERIA
Joseph Olo un emi AKANDE
Wal e Sisulu Uni e si y, Sou h A ica
Abs ac
Asse -liabili y managemen ep esen s a c i ical benchma k ha deposi money banks mus
sys ema ically moni o and in eg a e in o s a egic inancial and ope a ional decision-making
p ocesses o ensu e ins i u ional sus ainabili y. In ligh o his, he p esen s udy in es iga es
he impac o asse -liabili y managemen on he su i al o selec ed deposi money banks in
Nige ia. Employing an ex-pos ac o esea ch design, he s udy u ilized seconda y da a de i ed
om selec ed deposi money banks co e ing he pe iod om 2010 o 2021. Panel eg ession
analysis was applied o examine he ela ionship be ween asse -liabili y s uc u e—measu ed
by cash and cash equi alen s, ne loan po olio, ne ixed asse s, o al deposi s, and o al long-
e m unding—and bank su i al, p oxied by he capi al adequacy a io.
The empi ical indings indica e ha he asse -liabili y s uc u e, ac oss he speci ied
dimensions, exe s a s a is ically signi ican in luence on bank su i al among he sampled
banks. Based on hese esul s, he s udy concludes ha he e ec i e managemen o key asse
and liabili y componen s—speci ically, cash and cash equi alen s, ne loan po olios, ne ixed
asse s, o al deposi s, and long- e m unding—is i al o enhancing he capi al adequacy and,
by ex ension, he long- e m iabili y o deposi money banks in Nige ia. Consequen ly, i is
ecommended ha op managemen o deposi money banks p io i ize p uden managemen o
cash and cash equi alen s, ensu ing a yea -on-yea inc ease in alignmen wi h egula o y
s anda ds, o p omo e ins i u ional esilience and sus ainabili y.
Keywo ds: asse -liabili y managemen , deposi money banks, sus ainabili y, ins i u ional
esilience.
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In oduc ion
One o he main goals o deposi money banks all o e he wo ld has been o su i e. The
ela ionship be ween asse -liabili y s uc u e and comme cial banks, o deposi money su i al,
is s ill being s udied, especially in he wake o he global inancial c isis (GFC) o 2007–2009,
bank consolida ion, and ecen e o ma ion o he global banking sys em ha caused a c edi
c isis in mos coun ies. As a esul , academics, p o essionals, and bank manage s om
de eloped, eme ging, and de eloping economies a e in e es ed in achie ing bank su i al and
sound capi al adequacy o inc ease he ole o bank in e media ies. Globally, capi al mix
con ibu es o he asse s, liabili ies, and inancial su i al o comme cial banks, o deposi
money banks play a majo ole in he p ima y objec i e and unc ion o comme cial bank
inancial ea nings and in e media ion be ween economic agen s. One o he main objec i es o
Deposi Money Banks (DMBs) wo ldwide has long been inancial gain. The connec ion
be ween asse -liabili y managemen and bank p o i s is cu en ly being s udied, mainly in he
wake o he global inancial c isis (GFC) o 2007–2009, which esul ed in bank me ge s and
na ional banking sys em e o ms. Thus, o inc ease he ole o he bank in e media y, bank
manage s and in ellec uals a ound he wo ld we e wo ied abou how o link asse -liabili y o
achie e s ong bank p o i abili y.
The asse -liabili y managemen and capi al adequacy we e pa o p uden ial guidelines DMBs
mus sc een and conside when making decisions (Ogbei un e al., 2022). This is since bank
p o i s as measu ed by e u ns ( e u n on equi y and e u n on asse s) ha e a signi ican impac
on bank ope a ions. Wi hou gene ally ul illing he unc ion o inancial in e media ies and
gene a ing s eady bank p o i s o e ime, DMBs canno su i e (Sam yn e al., 2022).
The e o e, he deg ee o capi al mix, p uden asse -liabili y managemen , and bank p o i s
h ough capi al su iciency mus be seen as eliable indica o s o DMBs o su i e by
academics and expe s in he banking indus y in de eloped, eme ging, and de eloping na ions.
Due o di icul ies in a aining sound sha eholde weal h maximiza ion, p o i abili y, and
ma ke alue, DMBs wo ldwide, including Nige ia, we e unable o achie e hei desi ed
ea nings. The issue o DMBs' low inancial e u ns on in es men was b ough on by hese
di icul ies. Asse -liabili y managemen misma ches con inue o be a bigge p oblem o
DMBs, which has a nega i e impac on banks' ea nings and size (Yuan & Mi, 2022). Nige ian
banks we e no exemp ; hey aced issues wi h los in es men s, illiquid asse s, he inabili y o
pay o sho - and long- e m deb , bank uns b ough on by an imbalance be ween asse s and
obliga ions, and low inancial p o i s.
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The demise o comme cial banks, also known as deposi money banks, o banks ha do no
su i e, is a wo ldwide issue ha can be linked o bo h es ablished and eme ging economies
(Wo ld Bank Repo , 2022). I deposi money egula o s o comme cial banks do no es ablish
he dea h penal y o bank manage s o c iminals and es ablish obus , impa ial mone a y
egula o y bodies ha o e see and conduc app op ia e assessmen s o deposi money bank
asse s and liabili ies, he issue o bank ailu es will pe sis . Due o poo asse -liabili y
managemen , which in u n impedes he deposi money banks' abili y o unc ion as sound
inancial in e media ies, Nguyen (2022) highligh ed ha mos Nige ian deposi money banks
will no be able o wi hs and long- e m ola ili y in he global economy and mone a y policies.
Acco dingly, he e is a common issue wi h insu icien bank ea nings, which leads o poo bank
in es men , a limi ed capi al mix, and insol ency. Acco ding o Van G euning e al. (2022),
mos Nige ian banks used inno a i e accoun ing s a egies ha allowed o he mis epo ing o
asse s and liabili ies and h ea ened deposi money banks wi h asse -liabili y mismanagemen .
As a esul , deposi s money banks' ea nings we e hampe ed, and hey we e unable o each
hei capi al mix goals. Inadequa e inancial epo ing and ine icien asse -liabili y
managemen we e he main causes o DMB ailu es in Nige ia (Ogbei un e al., 2022;
Onaolapo & Adegoke, 2020).
While p e ious ela ed s udies ha e examined he ela ionship be ween asse -liabili y
managemen , bank-speci ic ac o s, and bank pe o mance (Abebe, 2022; Dao, 2020; D iss, &
Mohammed, 2017; Kasasbeh, 2021; Lysiak e al., 2022; Mugun, 2019; Nguyen, 2020;
Ogbei un, & Akinola, 2020; Onaolapo & Adegoke, 2020; Owusu & Alhassan, 2020; Sam yn
& Ismail, 2022; Si ain, 2022; Yuan, & Mi, 2022). Howe e , mos o hese p e ious s udies
ne e examined he ela ionship be ween bank capi al mix, asse -liabili y managemen , and
capi al adequacy among selec ed deposi money banks in Nige ia. Thus, he e exis s gap
iden i ied among pas li e a u e. Conside ed p oblem and gap iden i ied, his s udy ocused on
in e ac ion e ec o bank capi al mix be ween Asse s-Liabili ies managemen and bank s a egy
o selec ed deposi money banks in Nige ia.
Li e a u e Re iew
The su i al-based heo y was i s in oduced in he ealm o economics and has since sp ead
o he social and managemen sciences. Su i al base heo y was i s p opounded by
Schumpe e (1934). I is no su p ising ha he mos common applica ion o su i al o he
i es heo y ound in business economics is o e alua e how co po a ions g ow, manipula e,
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and compe e in indus ies, as well as o explain changes in he economy (Nelson & Win e ,
1982). Ha od (1939) and Alchian (1950) we e among he esea che s who also inco po a e
su i al base heo y in economics and business su i al analysis. He be -Spence de eloped
he su i al-based hypo hesis, also known as su i al o he i es heo y (Miesing & P eble,
1985).
Acco ding o he su i al ounda ion hypo hesis, i is ypical o compe i o s o ac
hedonis ically and manipula e hei me hods o c ea e he bes company, which endu ed and
h i ed by e ec i ely adjus ing o i s su oundings and aking ac s o endu e o a conside able
amoun o ime. The e o e, unde his iew, in ense comme cial compe i ion and unsc upulous
poli ics, like c ea i e accoun ing o igu e manipula ion, a e accep able. Despi e he popula i y
o he su i al-based iew in s a egic managemen , esea che s like Abdullah (2010), C agg
(2002), Raduan, Jegak, Haslinda, and Alimin (2009) ha e c i icized i o a numbe o easons,
a guing ha o ganiza ions ha use i a e no iable because hey lag behind ma ke
imp o emen s a he han being leade s in bo h p icing and inno a ion (Abdullah, 2010; C agg,
2002). The su i al-based iew emphasizes he assump ions ha an o ganiza ion mus deploy
s a egies ha a e ocused on unning e y e icien ope a ions and can espond quickly o
changing compe i i e en i onmen s (Khai uddin, 2005). Acco ding o analys s, p oponen s o
his school o hough ha e e y li le oom o g ow h, and i hey do, hei chances o
ou pe o ming businesses ha wan o in luence ma ke leade s a e low (Raduan e al, 2009).
The su i al-based heo y in es iga es he ac ics businesses employ o keep om being wiped
ou by i als (Miesing & P eble, 1985). The su i al-based heo y s a es ha o succeed in
inno a i eness, high in ui ion, and he p ac ical abili y o manage an associa ion, a business
di ec o mus o ge a oad owa d iden i ying, ins inc , eeling, and hinking. They should also
be eady o admi weaknesses o make imp o emen s. Companies mus con inually espond o
hei in ense en i onmen al compe i ion o h i e. I seems ha a esh pe spec i e on he
business en i onmen (a pa adigm and imp o ed me hods o beha io (co po a e p ac ices))
eme ges e e y en yea s (B ian, 1996). The ounda ion o he su i al-based pe spec i e o
managemen is he belie ha o su i e, companies need o implemen s a egies ha a e
cen e ed on ca ying ou highly skilled jobs and can quickly adjus o he changing demands o
a comba i e compe i i e en i onmen (Khai uddin, 2005). Because he s onges and mos
equipped o adjus o hei en i onmen a e he ones who su i e. Ad oca es o his pe spec i e,
howe e , hough ha choosing a pa icula echnical layou would be ine ec i e. Ins ead, i is
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ad ised o in es iga e a a ie y o op ions o a ew p ocedu es igh away and hen le he bes
sys em ha adap s o he en i onmen de e mine which p ocedu e is ideal (Lynch, 2000).
An o ganiza ion ha can success ully adap o i s su oundings and become he mos skilled
and p uden in bo h p oduc ion and ac i i y will su i e. This can be achie ed by
communica ing app oaches ha ocus on ha ing compe en asks and he abili y o espond
apidly o changes in he compe i i e en i onmen . The idea pu sues na u e's c i e ion ha only
he bes and i es in he en i onmen will su i e. The company mus adap o he changes o
ha e a chance o su i al, which will make he company agg essi e in he ma ke place
(Khai uddin, 2005). Acco ding o Abdullah (2010), his hypo hesis is also used o explain bank
inancial manipula ion and deposi money banks ha plan o change cou se a e a pe iod o
subpa pe o mance. These ins i u ions ha e nume ous obs acles in hei exis ence, some o
which may be caused by decep i e accoun ing p ac ices o inancial manipula ion. Such
o ganiza ions would use c ea i e accoun ing echniques o help he o ganiza ions (banks)
s eng hen hei su i al o add ess he issue o su i al. This is in he belie ha i will imp o e
he o e all pe o mance and su i al o hei banking ope a ion, enabling hem o mee hei
su i al objec i e.
Asse -Liabili y Managemen (ALM), acco ding o Abebe (2022), is he p ocess by which a
bank p ocesses and analyzes i s asse s and liabili ies in conjunc ion wi h in e na ional banking
s anda ds. ALM ocuses on how a bank's sho - and long- e m liabili ies a e implemen ed wi h
i s inancial and non- inancial asse s. Addi ionally, ALM is an ac i e s a egy ha includes
asse s-liabili ies concu en ly guidance o guide agains bank isks, acco ding o Owusu and
Alhassan (2020). Acco dingly, his s udy heo e ically saw ALM as a me hod o b eaking down
banks' asse s and liabili ies o suppo a heal hy ole o inancial in e media ies. Asse -Liabili y
S uc u e (ALS) is de ined by Van G euning and B a ano ic (2022) as he p ocess by which a
bank's o al asse s and liabili ies a e con olled and s uc u ed simul aneously in an in eg a ed
ashion. ALS includes s a egic planning and implemen a ion as well as con ol p ocesses ha
impac he olume, mix, ma u i y, in e es a e sensi i i y, quali y, and liquidi y o he bank's
asse s and liabili ies. ALS add esses he p o ec ion o bo h income and capi al om in e es
a e isk, which a ises om misma ches in he ep icing o asse s and liabili ies, while in e es
a e isk managemen seeks o keep in e es a e isk exposu es wi hin pe mi ed limi s. Asse -
liabili y managemen p o ec s capi al and income om in e es a e isk, which s ems om
misma ches in he ep icing o asse s and liabili ies, while in e es a e isk managemen ies
o keep in e es a e isk exposu es wi hin au ho ized le els. The CFI eam (2022) s a es ha

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asse and liabili y s uc u e (ALS) is a p ac ice used by inancial ins i u ions o mi iga e
inancial isks esul ing om a misma ch o asse s and liabili ies. ALS s a egies, which
combine isk managemen and inancial planning, a e equen ly used by o ganiza ions o
manage long- e m isks ha can a ise due o changing ci cums ances.
Though he long- e m goal o ALS in a comme cial bank is o maximize he economic alue
o he bank, o he p esen alue o he bank's expec ed ne cash lows, which is calcula ed by
sub ac ing he expec ed cash lows on liabili ies om he expec ed cash lows on asse s and
adding he expec ed ne cash lows on o balance shee (OBS) posi ions, he sho - e m goal
o ALS is o main ain liquidi y while p o ec ing ea nings (Basel Commi ee on Banking
Supe ision, 2006). The asse -liabili y managemen me hods employed by comme cial banks
and non-p o i mic o inance ins i u ions a e simila in p ac ice, acco ding o B om (2009),
e e enced in Lysiak e al. (2022). Acco ding o B andao-Ma ques, Rica do, and Ho acio
(2020), asse and liabili y managemen is a me hod used by banks and o he inancial se ice
p o ide s o manage in e es a es and liquidi y isks.
Cash and cash equi alen s a e he line i ems on he balance shee ha show how much money
a company has in cash o ha can be u ned in o cash igh now. Bank accoun s and ma ke able
secu i ies like comme cial pape and sho - e m go e nmen bonds a e examples o cash
equi alen s. Cash and cash equi alen s, acco ding o Wall S ee P ep (2022), a e a balance
shee ca ego y ha includes cash and cu en asse s wi h high liquidi y (i.e., asse s con e ible
in o cash wi hin 90 days). Acco ding o U.S. GAAP, cash equi alen s a e highly liquid, sho -
e m in es men s ha can be easily con e ed in o known amoun s o cash and a e so close o
ma u i y ha he e is li le chance o hei alue luc ua ing due o changes in in e es a es.
Lawinside (2022) de ines cash and cash equi alen s as he o al amoun o cash (whe he in
cash o c edi ed o an accoun wi h a banking, inancial, accep ance c edi , lending, o o he
simila ins i u ion o o ganiza ion) and cash equi alen s o he company g oup ela ed o he
business, including all in e es acc ued he eon and he pu chase p ice o he slump sale o he
s ipel unde aking as speci ied unde he s ipel business ans e ag eemen , excluding (i) cash
equi alen s unde lock-in pe iod o cash held in lien, as o a speci ic da e and ela ing o he
company g oup o he business; and (ii) he in es o subsc ip ion amoun .
Addi ionally, Odo and Udodi (2022) shed ligh on he concep 's applica ions when hey poin ed
ou ha cash equi alen s a e main ained mo e o sho - e m cash obliga ions han o
in es men s o o he uses. An in es men mus be easily con e ible in o a known amoun o
cash and ha e a negligible isk o alue luc ua ions o be conside ed a cash equi alen .
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Consequen ly, an in es men ypically only mee s he c i e ia o being conside ed cash
equi alen i i has a sho ma u i y, such as h ee mon hs o less om he da e o acquisi ion.
In es men s in sha es a e no conside ed cash equi alen s unless hey a e echnically cash
equi alen s, such as p e e ence sha es o a business pu chased jus be o e hei designa ed
edemp ion da e (i he company's ailu e o epay he amoun a ma u i y poses a negligible
isk). Since cash and cash equi alen s a e componen s o an o ganiza ion's cash managemen
a he han i s ope a ing, in es ing, and inancing ope a ions, cash lows do no include
mo emen s be ween hese ca ego ies. In es ing su plus unds in cash equi alen s is a
componen o cash managemen (Odo & Udodi, 2022).
The g oss loan po olio is he o al amoun o loans made o consume s on a gi en da e, and
he ne loan po olio is he di e ence be ween he g oss loan po olio and he amoun o loan
loss p o isions (LLP), which a e c ea ed by he bank in he e en ha bo owe s ail o ul ill
hei obliga ions o epay he deb (Cbonds.com, 2022). These igu es a e shown in he inancial
s a emen s o banks. In 2022, Wall S ee P ep o e ed a ma hema ical me hod o de ining
G oss Loan Po olio Less Loan Loss Rese e. The o al amoun owed on all ou s anding clien
loans, including hose ha a e cu en , pas due, o es uc u ed bu no hose ha ha e been
w i en o . In e es ecei able is excluded om his. Loans om employees a e no included.
A ne loan po olio, acco ding o Ndambi i, Munene, and Wajohi (2017), is he sum o all loans
ha a bank o inance i m has on hand a any gi en ime. The deg ee o which inancial
ins i u ions mee hei lending goals, which suppo s he o e a ching o ganiza ional objec i e
o maximizing sha eholde weal h, is shown by he ne loan po olio pe o mance (Coope ,
Edge , & Kleinschmid , 2006). Acco ding o Fujo and Ali (2016), loan po olio pe o mance
is c i ical o he success o all lending businesses, no jus SACCOs.
One measu e ha assesses he ne wo h o a business's ixed asse s is ne ixed asse s. The
pu chase p ice o all ixed asse s plus any u he enhancemen s a e added up o de e mine i .
A e ha , deduc he amoun ha has acc ued dep ecia ion (Ca bon Collec i e, 2021). Those
who wish o de e mine he ma ke wo h o a company's ixed asse s will ind his measu e
e y help ul. pa icula ly i hey wan o pu chase hem. They can calcula e how much hey
would ha e o in es in he company's ixed asse s i hey con olled hem by knowing he ne
ixed asse s. Goca dless (2022) s a es ha ne ixed asse s a e calcula ed by deduc ing he en i e
amoun o dep ecia ion om he pu chase p ice o all a company's ixed asse s. To al ixed
asse s minus (accumula ed dep ecia ion + liabili y) equals ne ixed asse s. A company's ne
ixed asse s a e calcula ed by sub ac ing he cumula i e dep ecia ion in he alue o i s o al,
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o g oss, ixed asse s. One wo d ha appea s on a bank's balance shee is o al deposi s. Fo he
a e age indi idual, he e m "deposi " usually e e s o pu ing money in a bank's sa ekeeping.
Di e en ypes o deposi s a e conside ed while de e mining he o al deposi s om a bank's
poin o iew. To al Deposi s e e s o he o al amoun o deposi s as o he closing da e's
business close, including in e es ha has accumula ed and emain unpaid as o ha da e.
The e o e, inancial ins i u ions may no be able o mee hei business goals and imp o e
economic g ow h i he e a e insu icien bank deposi s (Viswanadham, Yi galem & Medani ,
2013).
A bank's capi al mix is a combina ion o i s unding sou ces and is one o i s i s c ucial
decisions due o i s associa ion wi h isk and ewa d (Hu, 2022). The combina ion o he bank's
deb and equi y is wha gua an ees he bank's inancial s abili y, p o i abili y, g ow h, and
expansion (Lysiak e al., 2022). The ollowing a e some possible ypes o deb -equi y mix:
Capi al s uc u e ha is ze o-gea ed o ze o-le e aged (100% equi y: 0% deb ) Capi al
S uc u e wi h High Gea ing o High Le e age (0% equi y: 100% deb ) Low Le e aged o Low
Gea ed Capi al S uc u e (X% Deb : Y% Equi y). Ou o hese h ee op ions, he unle e ed
bank op ion is he one whe e he bank a oids he bene i o le e age, i any. The second scena io
in ol es a bank wi h no equi y capi al. In a eal-wo ld economic scena io, his al e na i e migh
no be easible o ealis ic because no und p o ide will pu his money in o a bank wi hou
equi y capi al. The ph ase " ading on equi y" is pa ially explained by his; ha is, he equi y
componen o he bank's capi al s uc u e is wha mo i a es he deb supplie s o dona e hei
limi ed esou ces o he bank. Op ion h ee is he mos p ac ical since i u ilizes he bene i s o
le e age, i any, by combining a speci ic pe cen age o deb and equi y in he capi al s uc u e
(Lysiak e al., 2022). Hu (2022) asse ed ha a company's capi al mix is an amalgam o he
unding sou ces i uses. The way a bank inances i s asse s h ough deb , equi y, and secu i ies
is known as i s capi al s uc u e, acco ding o O ekun in, Nwanji, Eluyela, Olowooke e, and
Fagbo o (2020). I is he a io o deb o equi y ha a business needs o inance i s asse s.
Acco ding o Dao (2020), a bank's capi al mix is he combina ion o deb and equi y i uses o
inance i s in es men s and asse s. Ge ing a educed cos o capi al and inc easing sha eholde
weal h a e wo o he mos signi ican company inancial decisions made by inancial
managemen .
Acco ding o Si ain (2022), bank su i al is he managemen 's capaci y o use he bank's asse s
o p oduce e enue, which leads o bank g ow h. Acco ding o Mugun (2019), bank su i al is
he g ow h o deposi money banks' o e all asse s. He added ha bank g ow h measu emen is
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impo an o all s akeholde s and ha bank g ow h p oduced by managemen in unning he
bank is usually used o assess bank su i al. The abili y o a bank o su i e depends on i s
deposi g ow h, which is he change in he comme cial bank's deposi s om yea o yea .
Acco ding o Ho maida, Fi awa y, and Nug ahadi (2018), bank su i al is a possible a enue
o expansion o a banking company. To al asse g ow h is used o measu e bank g ow h, wi h
his o ical asse g ow h se ing as a p oxy o u u e bank p o i abili y. O e ime, a bank's o al
asse s may ise o all. The pe cen age change in asse s om one yea o he nex is used o
calcula e asse g ow h. Acco ding o Omon uyi and Osamwonyi (2013), a s ong, obus , and
s able banking sec o is c i ical o suppo ing economic ac i i y, encou aging economic g ow h,
and ensu ing inancial s abili y. They con inued by saying ha one o he mos con o e sial
issues in inancial economies has been he connec ion be ween banks and economic g ow h. A
obus inancial sys em is acknowledged by all mode n economies as a p e equisi e o swi
expansion and ad ancemen (Sanusi, 2012). T idico (2007) asse s ha low bank lending a es
p omo e economic g ow h as a complex ma e equi ing he ad an ageous in e play o
mul iple ins i u ional and socioeconomic elemen s. Acco ding o O ekun in, Fagbo o, Nwanji,
Asamu, Ajiboye, and Falaye (2019), he majo i y o Nige ian money deposi banks ha e he
p oblem o ocusing mo e on p o i maximiza ion han aking liquidi y measu es o mee he
demands o hei cus ome s and ul illing hei obliga ions o hei clien s as and when due, and
in he p ocess, hey a e losing a signi ican po ion o hei clien ele. This p oblem is hough
o be esol ed i he banks ake hei liquidi y managemen as necessa y as he way hey ocus
on p o i abili y so ha hey can bene i om he impac o a well-managed liquidi y on p o i
maximiza ion, he schola s en hused. Among he ad an ages o bank su i al and expansion,
acco ding o Mugun (2019), a e he ollowing: banks gene a e money h ough a sys em known
as c edi c ea ion, which enables hem o lend a mo e han he deposi s hey hold; when banks
lend his money o indus ies, small businesses, se ice p o ide s, and ag icul u e, hey a e
genuinely con ibu ing o he exponen ial g ow h o he economy. Consequen ly, spending
powe and employmen a e c ea ed. One o he limi a ions, acco ding o D iss e al. (2017), is
ha he bank will ail i e e yone akes hei money ou a once du ing eme gency si ua ions.
Banks ne e ha e enough cash on hand o pay all hei clien s because o he ole ha c edi
c ea ion plays.
The capi al o isk (weigh ed) asse s a io (CRAR), some imes e e ed o as he capi al
adequacy a io (CAR), is he a io o a bank's capi al o i s isk. Na ional au ho i ies moni o a
bank's CAR o make su e i mee s s a u o y capi al le els and can wi hs and a ai amoun o
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576
Fakunmoju e al. (2023) model. The s udy added capi al mix as in e ac ion a iable o achie e
hypo hesis wo and jus i y whe he bank capi al mix may enhance bank inancial su i al
p oximi y wi h capi al adequacy a io. The Fakunmoju e al. (2022) adop ed model was s a ed
below in equa ion one.
The adop ed model is s a ed as:
BS = (CCE, NLP, NFA, TD, TLF) (1)
BSi = β0 + β1CCEi + β2NLPi + β3NFAi + β4TDi + β5TLFi +µi +εi (2)
Whe e:
CCE = Cash and Cash Equi alen , NLP = Ne Loan Po olio, NFA = Ne Fixed Asse s, TD =
To al Deposi , To al TLF = Long-Te m Funding and CM = Bank Capi al Mix
The s udy adap ed Fakunmoju e al. (2022) model o achie e hypo hesis one o he s udies; as
bank capi al adequacy can also se e as one o he p oxied o bank su i al used as dependen
a iable in Fakunmoju e al. (2022) model. Thus, bank capi al adequacy se ed as he
dependen a iable in he model o hypo hesis one which will be s a ed below in equa ion
h ee.
CAi = β0 + β1CCEi + β2NLPi + β3NFAi + β4TDi + β5TLFi +µi +εi (3)
Fu he mo e, bank capi al mix will be added in equa ion h ee o es ablish in e ac ion e ec o
capi al mix wi h asse -liabili y managemen on bank capi al adequacy (CA) and achie e
hypo hesis wo. The e o e, he adap ed model o hypo hesis wo will be depic ed in equa ion
ou below.
CAi = β0 + β1CCE*CMi + β2NLP*CMi + β3NFA*CMi + β4TD*CMi + β5TLF*CMi +µi +εi (4)
Resul s and Discussion
The desc ip i e s a is ics in his s udy explain he leas he a e age and he highes alues o
he se ies in he dis ibu ion; as well as he le el o a ia ions in he se ies which is de e mined
using he s anda d de ia ion.
Table 4: Desc ip i e S a is ics
A e age
S anda d E o
Minimum
Maximum
CAR
16.26
5.85
-10.19
30.37
Deb o
Equi y a io
(D/E)
50.43
7.95
12.84
242.90

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CCE
4.26
1.31
3.51
8.21
NLP
28.25
5.38
14.22
164.28
NFA
12.29
2.79
4.29
20.16
TD
10.14
24.91
1.91
25.36
TLF
15.84
9.93
22.58
59.14
Sou ce: Resea che s’ Compu a ion (2025)
Capi al Adequacy Ra io (CAR) had a minimum and maximum alues o -10.19 and 30.37
indica ing ha selec ed banks expe ienced loss o p o i wi h highe CAR o 30.37. Deb o
Equi y (DE) ep esen s he o al a he a e age eco ded 50.43 wi h minimum alue o 12.84
and 242.90 and his depic ed hose selec ed banks ha ing mo e o al asse s wi h la ges D/E in
he indus y. CCE and NLP o he selec ed banks had a e age cash o 4.26 and 28.25 wo h o
loan po olio wi h lowe alue o 3.51 and 8.21 o CCE and highe alue o 14.22 and 164.28.
NFA and TD eco ded a e age o 12.29 and 10.14 wi h minimum and maximum alue o 4.29,
1.91, 20.16 and 25.36 indica ed ha he selec ed banks asse s and deposi yield posi i e
ansac ion and las ly To al Long- e m unding (TLF) showed ha selec ed banks eco ded
a e age o 15.84 wi h maximum o 59.14 mo e han he double o a e age eco ded by TLF,
hus indica ing sound in es men o he selec ed bank long e m unds o in e media y’s ole
by he banks in Nige ia.
Table 5: Co ela ion Ma ix
Selec ed Deposi Money Banks
CAR
CCE
NLP
NFA
TD
TLF
D/E
VIF
1/VIF
CAR
1
1.23
0.69
CCE
-0.03
1
2.32
0.51
NLP
-0.35
-0.05
1
1.10
0.57
NFA
0.21
-0.09
-0.23
1
1.36
0.63
TD
0.16
-0.08
-0.34
-0.01
1
1.29
0.42
TLF
-0.19
-0.27
-0.21
-0.7
-0.08
1
1.11
0.10
D/E
0.53
0.34
0.29
0.24
0.63
0.21
1
2.01
0.23
Sou ce: Resea che s’ Compu a ion (2025)
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578
Table 5 depic ed co ela ion ma ix o posi i e and nega i e connec ion among s udy a iables
such as CAR, D/E, CCE, NLP, NFA, TD and TLF. As none o he a iables we e up o 0.8, hus
he e exis no mul icollinea i y p oblem among s udy a iables (Guja a i, 2004). Also, Va iance
In la ion Fac o (VIF) and Tole ance depic ed ha he e exis s no mul icollinea i y p oblem
among s udy a iables.
Table 6: Reg ession and Pos -Es ima ion Resul s o Hypo hesis One
Model o Hypo hesis One
Fixed E ec Panel Reg ession
Sys em Gene alised Momen
Me hod (SGMM)
Coe
S d.
E
T-
S a
P ob
Coe
S d. E
T-S a
P ob
Va iable
Cons an
3.062
5.325
0.554
0.311
6.185
5.391
1.08
0.251
CCE
0.389
0.042
0.881
0.353
0.384
0.119
2.05
0.032
NLP
-
0.078
0.349
-
2.720
0.002
-1.418
0.418
-5.16
0.001
NFA
0.367
0.234
4.172
0.029
0.193
0.129
4.95
0.045
TD
0.164
0.053
3.782
0.002
1.124
0.031
7.97
0.001
TLF
1.196
0.147
3.545
0.001
2.521
6.328
8.33
0.015
Adj.R2
0.429
F-S a
F(5, 186) = 21.07 (0.00)
O e all = 192
Ins umen s = 38.000
Hausman Tes
Chi2(5) = 26.71 (0.00)
O e all = 190.00
Tes pa m Tes (LM
Tes )
F-s a = 5.17 (0.57)
A ellano-Bond: AR(2) = 0.517
He e oskedas ici y
Tes
Chi2(1) = 25.27 (0.60)
Hansen es (p- alue) = 0.153
Se ial Co ela ion
Tes
F-s a = 0.454 (0.53)
Dependen Va iable: Capi al Adequacy Ra io (CAR) @5% Le el o Signi icance
Sou ce: Resea che s’ Compila ion (2025)
Due o Hausman and LM es s esul s o he panel model om Table 3 abo e, ixed e ec
panel eg ession and GMM we e employed o es ima e he s udy panel model, he p obabili y
alues e ealed ha : Cash and Cash Equi alen (CCE) had posi i e and insigni ican e ec on
bank capi al adequacy (β = 0.389, -s a = 0.881, p>0.05); Ne Fixed Asse s (NFA) (β = 0.367,
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-s a =4.172, p<0.05); To al Deposi (β = 0.164, -s a = 3.782, p<0.05); and To al Long-Te m
Funding (TLF) (β = 1.196, -s a =3.545, p<0.05) all had posi i e and signi ican e ec on bank
capi al adequacy while Ne Loan Po olio (NLP) (β = -0.078, -s a = -2.720, p<0.05) had
nega i e and signi ican e ec on bank capi al adequacy in Nige ia. This indica ed ha as Cash
and Cash Equi alen , Ne Fixed Asse s, To al Deposi and To al Long-Te m Funding inc ease,
he e will be an inc ease in bank capi al adequacy while inc eased in Ne Loan Po olio caused
d op in bank capi al adequacy o he selec ed banks.
The Adjus ed R2 depic ed 0.429 (42.9%), which indica ed ha asse -liabili y managemen
componen s o p oxies explained 42.9% changes in bank capi al adequacy o he selec ed
banks. In a mul iple eg ession model, R-squa e may no be p e e able bu Adj.R2 well
explained he explana o y a iables a iance in he dependen a iable.
Likewise, he SGMM u he es ablished he obus ness e ec among s udy a iables. The
SGMM es ablished ha Cash and Cash Equi alen (CCE) (β = 0.119, -s a =2.05, p<0.05), Ne
Fixed Asse s (NFA) (β = 0.193, -s a =4.95, p<0.05), To al Deposi (β = 1.124, -s a = 7.97,
p<0.05) and To al Long-Te m Funding (TLF) (β = 2.521, -s a =8.33, p<0.05) all had posi i e
and signi ican e ec on bank CAR excep Ne Loan Po olio (NLP) (β = -1.418, -s a = -
5.16, p<0.05) wi h bank capi al adequacy. Thus, he s udy ejec ed null hypo hesis one; H01:
Asse -liabili y managemen componen s ha e no signi ican in luence on bank capi al
adequacy in Nige ia.
The s udy u he analyzed hypo hesis wo which shown om he panel ixed e ec esul ha
in e ac ion e ec o bank capi al mix wi h componen s o ass -labili y managemen had
signi ican yield e ec on bank capi al adequacy o selec ed banks; as in e ac ion e ec o
CCE*D/E, NFA*D/E, TD*D/E and TLF*D/E had posi i e and signi ican in luence on bank
capi al adequacy while NLP*D/E had nega i e and signi ican e ec on bank capi al adequacy
selec ed in Nige ia. This insinua es ha bank (D/E o capi al mix) had g ea and signi ican
in e ac ion o bank capi al adequacy o selec ed DMBs in Nige ia since he p<0.05 and ha
hose selec ed deposi money banks had sound capi al mix and asses-liabili ies s uc u e ha
signi ican ly boos hei CAR.
Fu he mo e, om Table 7 i was depic ed ha Adj.R2 = 72.9% which signi ied ha D/E as
in e ac ion ac o o asse -liabili y managemen componen s (CCE, NLP, NFA, TD and TLF)
widely explained CAR o selec ed DMBs. The di e ences in Adj.R2 be o e and a e
mul iplica ion o bank capi al mix (D/E) as in e ac ion ac o s indica ed ha uly D/E o
selec ed bank signi ican ly con ibu es o hei CAR. The F-s a = 103.46 (p< 0.05) indica ed
In e na ional Jou nal o Social and Educa ional Inno a ion (IJSEI o)
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580
ha he s udy model was well i ed and ha explana o y a iables collec i ely and signi ican ly
con ibu e o changes in explained a iables. Simila ly, he SGMM also e ealed ha bank
capi al mix (D/E) as in e ac ion ac o (CCE*D/E, NFA*D/E, TD*D/E and TLF*D/E) had
posi i e and signi ican in luence on bank CAR while NLP*D/E had nega i e and signi ican
e ec on bank CAR o selec ed in Nige ia. This implies ha SGMM suppo ed he inding o
ixed e ec panel eg ession, hus he s udy ejec ed null hypo hesis wo ha ; H02: D/E (Capi al
Mix) does no signi ican ly in e ac be ween asse -liabili y managemen componen s and CAR
o selec ed DMBs in Nige ia
Table 7: Reg ession and Pos -Es ima ion Resul s o Hypo hesis Two
Model o Hypo hesis Two
Fixed E ec Panel Reg ession
Sys em Gene alized Momen
Me hod (SGMM)
Coe
S d.
E
T-
S a
P ob
Coe
S d. E
T-S a
P ob
Va iable
Cons an
1.732
1.195
1.014
0.221
6.295
5.822
1.08
0.284
CCE*D/E
1.299
0.289
6.902
0.031
1.014
0.834
7.25
0.001
NLP*D/E
-
1.430
0.109
-
4.310
0.015
-0.387
0.213
-10.01
0.000
NFA*D/E
1.987
0.894
9.721
0.007
0.632
0.113
10.23
0.005
TD*D/E
0.946
0.053
5.122
0.018
1.166
0.042
7.97
0.001
TLF*D/E
1.030
0.979
8.285
0.000
2.433
7.438
8.33
0.015
Adj.R2
0.729
F-S a
F (5, 186) = 103.46 (0.00)
O e all = 192
Ins umen s = 42.000
Hausman Tes
Chi2(5) = 59.36 (0.00)
O e all = 190.00
Tes pa m Tes
F-s a = 13.58 (0.89)
A ellano-Bond: AR (2) = 0.930
(LM Tes )
He e oskedas ici y
Tes
Chi2(1) = 41.89 (0.90)
Hansen es (p- alue) = 0.271
Se ial
F-s a = 0.831 (0.69)
Co ela ion Tes
Dependen Va iable: Bank Capi al Adequacy Ra io (CAR) @5% Le el o Signi icance
Sou ce: Resea che s’ Compu a ion (2025)
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Pas ela ed s udies (Lysiak e al., 2022; Kasasbeh, 2021; Mugun, 2019; Nguyen, 2020;
Ogbei un, & Akinola, 2020; Onaolapo & Adegoke, 2020; Owusu, & Alhassan, 2020; Sam yn,
& Ismail, 2022; Si ain, 2022; Yuan, & Mi, 2022) suppo ed indings o hypo hesis one o his
s udy ha asse -liabili y managemen a ec bank su i al. Also, inding e ealed ha bank
capi al mix (D/E) signi ican ly in e ac s wi h bo h asse -liabili y componen s and bank CAR
and o hypo hesis wo he e was close o non-exis ence discussed ela ed pas s udies (Abebe,
2022; D iss & Mohammed, 2017; Fakunmoju e al., 2022; Lysiak e al., 2022; Mugun, 2019;
Ogbei un, & Akinola, 2020; Onaolapo & Adegoke, 2020; Owusu & Alhassan, 2020 among
o he s) ha o mula ed hypo hesis wo aised in his s udy which se ed as gap iden i ied
among pas s udies. Thus, null hypo hesis wo was ejec ed.
Conclusion and Recommenda ions
The s udy examined he ela ionship be ween he in e ac ion e ec o bank capi al mix (D/E)
and asse -liabili y managemen componen s o p oxies on bank CAR among Nige ian deposi
money ins i u ions. Bank capi al mix (D/E) s ongly in e ac s wi h asse -liabili y managemen
componen s and bank CAR o selec ed banks in Nige ia, and asse -liabili y managemen
componen s (CCE, NLP, NFA, TD, and TLF) conside ably a ec bank CAR, acco ding o he
s udy's indings.
Based on his conclusion, his s udy ecommended ha .
(i) The op managemen o he selec ed bank should ca e ully handle CCE, NLP, NFA,
TD, and TLF in acco dance wi h in e na ional banking s anda ds wi hou going
agains he Cen al Bank o Nige ia's es ablished s a u o y equi emen s o gene a e
long- e m p o i s.
(ii) Bank CAR in Nige ia will imp o e i he Cen al Bank o Nige ia (CBN) imposes
app op ia e sanc ions o he une hical ne loan po olio o a ious asse s in he
banks ha did no adhe e o CBN egula o y egula ion ela ed asse o loan
po olio.
(iii) Acco ding o CBN egula o y egula ion, bank manage s should ake app op ia e
s eps o ne ixed asse s o di e si ied asse po olios o p e en ying down ixed
asse s and inc ease bank CAR.
(i ) Bank manage s should buy mo e bank asse s, which will inc ease he bank's op imal
capi al composi ion and di ec ly imp o e he bank's CAR in Nige ia. Policymake s

In e na ional Jou nal o Social and Educa ional Inno a ion (IJSEI o)
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and decision make s o chosen banks should also gi e banks D/E impo an
conside a ion o eco d solid and signi ican banking ope a ions o make mo e CAR.
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