Integrated Reporting, which is the latest development in the frontier of corporate reporting, is driving the disclosure of non-financial information in addition to the traditional financial information in annual reports. Particularly, it encourages the disclosure of multiple capitals (financial and non-financial) whose information is considered to be relevant to investors in investment decision-making. To examine the disclosure of some of these capitals with support from the signalling and legitimacy theories, this study investigated the value relevance of intellectual capital proxied by structural, human, social, and relational capital disclosure to investors using the Ohlson (1995) price model. Using regression technique to analyse 112 firm-year observations of listed Deposit Money Banks in Nigeria, the findings established that structural, human, social and relational capitals are individually, positively and significantly value relevant to investors. In addition, the capitals were found to jointly, significantly and positively increase the informativeness of earnings per share to investors. The study concludes that information on structural, human, social and relational capitals are valued relevance investors and also, increases the value relevance of earnings in investors’ decision-making. The study, therefore, recommends the adoption of integrated reporting to ensure continuous disclosure of structural, human, social and relational capital alongside the traditional accounting information in annual reports.

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