Does Intellectual Capital Investment Improve Financial Competitiveness and Green Innovation Performance? Evidence from Renewable Energy Companies in China

This paper aims to investigate the impact of intellectual capital (IC) and its components on financial competitiveness and green innovation performance. The data are collected from renewable energy companies listed on the Shanghai and Shenzhen stock exchanges during 2013–2018. The modified Value Add...

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Published in:Mathematical problems in engineering 2021, Vol.2021, p.1-13
Main Authors: Liu, Shuang, Yu, Qi, Zhang, Liang, Xu, Jian, Jin, Zhenji
Format: Article
Language:English
Subjects:
Agribusiness
Audited financial statements
Competition
Competitive advantage
Employees
Energy industry
Financial performance
Hypotheses
Innovations
Intellectual capital
Intellectual property
Inventions
Knowledge
Literature reviews
Mathematical problems
Profitability
Renewable energy
Renewable resources
Research methodology
Return on assets
Solvency
Stock exchanges
Sustainable development
Value added
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creator Liu, Shuang
Yu, Qi
Zhang, Liang
Xu, Jian
Jin, Zhenji
description This paper aims to investigate the impact of intellectual capital (IC) and its components on financial competitiveness and green innovation performance. The data are collected from renewable energy companies listed on the Shanghai and Shenzhen stock exchanges during 2013–2018. The modified Value Added Intellectual Coefficient (MVAIC) model is applied as a proxy for IC efficiency, an index system is constructed to systematically measure financial competitiveness, and green innovation performance is measured by the total number of green patents, the number of green invention patents, and the number of green noninvention patents. The empirical results show that IC has an inverted U-shaped relationship with financial competitiveness and no impact on green innovation performance. Regarding IC components, human capital (HC), structural capital, and relational capital positively affect financial competitiveness. HC has a negative impact on green patents, while innovation capital has a positive impact on green invention patents. Physical capital is the main driving force of green innovation performance. This study will help managers to reasonably manage their IC resources to strengthen financial competitiveness and achieve green development.
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subjects Agribusiness
Audited financial statements
Competition
Competitive advantage
Employees
Energy industry
Financial performance
Hypotheses
Innovations
Intellectual capital
Intellectual property
Inventions
Knowledge
Literature reviews
Mathematical problems
Profitability
Renewable energy
Renewable resources
Research methodology
Return on assets
Solvency
Stock exchanges
Sustainable development
Value added
title Does Intellectual Capital Investment Improve Financial Competitiveness and Green Innovation Performance? Evidence from Renewable Energy Companies in China
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