Intellectual Capital and Firm Performance in Vietnam: The Moderating Role of Corporate Social Responsibility

The effects of intellectual capital on firm performance have been extensively investigated. However, the important role of corporate social responsibility in moderating this intellectual capital–performance nexus has largely been neglected in the existing literature. This study uses a sample of 60 l...

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Bibliographic Details
Published in:Sustainability 2022-10, Vol.14 (19), p.12763
Main Authors: Tran, Ngoc Phu, Dinh, Co Thi Huyen, Hoang, Hien Thi Thu, Vo, Duc Hong
Format: Article
Language:English
Subjects:
Business success
Competition
Competitive advantage
Corporate culture
Corporate image
Corporate social responsibility
Critical components
Economic aspects
Efficiency
Employees
Generalized method of moments
Human capital
Intellectual capital
Knowledge
Method of moments
Social aspects
Social responsibility
Stakeholders
Stock exchanges
Sustainability
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Summary:The effects of intellectual capital on firm performance have been extensively investigated. However, the important role of corporate social responsibility in moderating this intellectual capital–performance nexus has largely been neglected in the existing literature. This study uses a sample of 60 listed firms on the Ho Chi Minh Stock Exchange from 2011 to 2020 to examine the independent and joint effects of intellectual capital and corporate social responsibility on firm performance in Vietnam. The generalized method of moments is used. We find that both independent and joint effects exist. Furthermore, our results suggest that structural capital efficiency and capital employed efficiency are the two critical components of intellectual capital affecting firm performance. Interestingly, the joint effects of intellectual capital and CSR on firm performance are also confirmed in our analysis. These findings shed light on important policy implications concerning managerial policies targeting both intellectual capital and corporate social activities to improve firm performance in Vietnam.
ISSN:2071-1050
2071-1050
DOI:10.3390/su141912763