Intellectual capital: the missing link in the corporate social responsibility–financial performance relationship
Journal of Intellectual Capital
ISSN: 1469-1930
Article publication date: 15 October 2020
Issue publication date: 8 February 2022
Abstract
Purpose
The purpose of this paper is to propose and empirically test intellectual capital (IC) as a mediator in the corporate social responsibility (CSR) and financial performance (FP) relationship.
Design/methodology/approach
The empirical research was conducted on 345 European firms listed in the STOXX Europe 600 index. To evaluate the mediating effect of IC, we applied the four-step Baron and Kenny model, tested through an ordinary least squares regression analysis.
Findings
The findings highlighted a partial mediation of IC on the CSR–FP relationship, suggesting that the implementation of CSR strategies has a positive effect on the development of firms' IC, which in turn enhances firms' competitive advantage and superior long-term FPs.
Originality/value
We found a new mediator in the CSR–FP relationship and we contribute to a new line of research that aims to study environmental and sustainability aspects strictly interrelated with IC and performances (sustainable intellectual capital).
Keywords
Citation
Nirino, N., Ferraris, A., Miglietta, N. and Invernizzi, A.C. (2022), "Intellectual capital: the missing link in the corporate social responsibility–financial performance relationship", Journal of Intellectual Capital, Vol. 23 No. 2, pp. 420-438. https://doi.org/10.1108/JIC-02-2020-0038
Publisher
:Emerald Publishing Limited
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