TY - JOUR
T1 - Intellectual capital
T2 - the missing link in the corporate social responsibility–financial performance relationship
AU - Nirino, Niccolò
AU - Ferraris, Alberto
AU - Miglietta, Nicola
AU - Invernizzi, Anna Chiara
N1 - Publisher Copyright:
© 2020, Emerald Publishing Limited.
PY - 2022/2/8
Y1 - 2022/2/8
N2 - 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).
AB - 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).
KW - CSR
KW - Financial performance
KW - Intangibles
KW - Intellectual capital
KW - Sustainable intellectual capital
UR - http://www.scopus.com/inward/record.url?scp=85092526504&partnerID=8YFLogxK
U2 - 10.1108/JIC-02-2020-0038
DO - 10.1108/JIC-02-2020-0038
M3 - Article
SN - 1469-1930
VL - 23
SP - 420
EP - 438
JO - Journal of Intellectual Capital
JF - Journal of Intellectual Capital
IS - 2
ER -