The Effects of Green Intellectual Capital on Business Performance: Evidence from Serbia

Investing in green intellectual capital can create competitive advantage of companies in the long term. In short term, however, more orchestration is required for investment into green resources to boost financial and non-financial performance of business. The aim of this paper is to present the eff...

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Bibliographic Details
Published in:Inžinerinė ekonomika 2024-01, Vol.35 (4), p.472-486
Main Authors: Vukmirović, Valentina, Radonić, Milenko, Radovanović, Olga, Milosavljević, Miloš
Format: Article
Language:English
Subjects:
Companies
Competitive advantage
Financial performance
Human capital
Intellectual capital
Intellectual development
Owners
Sustainability
Sustainable development
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Summary:Investing in green intellectual capital can create competitive advantage of companies in the long term. In short term, however, more orchestration is required for investment into green resources to boost financial and non-financial performance of business. The aim of this paper is to present the effects of Green Intellectual Capital (Green Human Capital, Green Structural Capital, and Green Relational Capital) on companies' business performance (including their financial and non-financial indicators). For this purpose, primary data were collected from targeted companies operating in the Serbian market (N=344) using a structured questionnaire. The results confirm the positive effects of Green Human Capital and Green Relational Capital on both financial and non-financial indicators of researched companies. Green Structural Capital was not found to have an impact on the companies' financial performance. These findings can contribute to 1) owners and managers in creating sustainable business models, 2) regulators in creating policy frameworks and incentives for sustainable development and 3) other business analysts focused on the green intellectual capital development in companies.
ISSN:1392-2785
2029-5839
DOI:10.5755/j01.ee.35.4.31711