Corporate ESG performance and intellectual capital: International evidence

IF 5.5 Q1 MANAGEMENT

Asia Pacific Management Review Pub Date : 2024-09-01 DOI:10.1016/j.apmrv.2023.12.003

{"title":"Corporate ESG performance and intellectual capital: International evidence","authors":"","doi":"10.1016/j.apmrv.2023.12.003","DOIUrl":null,"url":null,"abstract":"<div><div>This study aims to empirically investigate the relationship between a firm's overall (individual) ESG performance and intellectual capital based on data from globally publicly listed firms across 30 countries from 2000 to 2019. We also explore how the Altman Z-score (the total number of patents and trademarks at the national level) moderates the association between firm’ ESG performance and intellectual capital. We use the Panel FGLS (Feasible Generalized Least Squares) approach to examine whether firms with better ESG performance experience a boost in intellectual capital performance. We present two key findings: (1) ESG performance, with its three main pillars, has a significantly strong positive impact on intellectual capital. This suggests that firms should engage in ESG activities as part of their strategy and, to remain ahead of their competitors, must innovate in ways that prevent rivals from copying their business approach. (2) The greater the number of patents and trademarks at the national level and the higher the Altman Z-score, the more significantly positive is the relationship between ESG performance and intellectual capital. The findings of this study contribute to the scant literature on ESG performance and intellectual capital. Firms with strong ESG performance and outstanding achievements in sustainable development have a competitive advantage; therefore, information about firms' strategies for incorporating, generating, transferring and applying intellectual capital can provide stakeholders with a long-term view of the company's future.</div></div>","PeriodicalId":46001,"journal":{"name":"Asia Pacific Management Review","volume":null,"pages":null},"PeriodicalIF":5.5000,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1029313223001033/pdfft?md5=47d3f6474e3a015c871a87eed841831e&pid=1-s2.0-S1029313223001033-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Asia Pacific Management Review","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1029313223001033","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"MANAGEMENT","Score":null,"Total":0}

引用次数: 0

Abstract

This study aims to empirically investigate the relationship between a firm's overall (individual) ESG performance and intellectual capital based on data from globally publicly listed firms across 30 countries from 2000 to 2019. We also explore how the Altman Z-score (the total number of patents and trademarks at the national level) moderates the association between firm’ ESG performance and intellectual capital. We use the Panel FGLS (Feasible Generalized Least Squares) approach to examine whether firms with better ESG performance experience a boost in intellectual capital performance. We present two key findings: (1) ESG performance, with its three main pillars, has a significantly strong positive impact on intellectual capital. This suggests that firms should engage in ESG activities as part of their strategy and, to remain ahead of their competitors, must innovate in ways that prevent rivals from copying their business approach. (2) The greater the number of patents and trademarks at the national level and the higher the Altman Z-score, the more significantly positive is the relationship between ESG performance and intellectual capital. The findings of this study contribute to the scant literature on ESG performance and intellectual capital. Firms with strong ESG performance and outstanding achievements in sustainable development have a competitive advantage; therefore, information about firms' strategies for incorporating, generating, transferring and applying intellectual capital can provide stakeholders with a long-term view of the company's future.

查看原文本刊更多论文

企业环境、社会和公司治理绩效与知识资本：国际证据

本研究旨在基于 2000 年至 2019 年 30 个国家的全球上市企业数据，实证研究企业整体（个体）环境、社会和公司治理绩效与知识资本之间的关系。我们还探讨了 Altman Z-score（国家层面的专利和商标总数）如何调节企业的环境、社会和治理绩效与知识资本之间的关系。我们使用面板 FGLS（可行广义最小二乘法）方法来检验环境、社会和公司治理表现更好的公司是否会提升智力资本表现。我们得出了两个主要结论：（1）ESG 表现及其三大支柱对智力资本有显著的积极影响。这表明，企业应将参与环境、社会和公司治理活动作为其战略的一部分，并且为了保持领先于竞争对手，必须进行创新，以防止竞争对手模仿其经营方式。(2) 国家层面的专利和商标数量越多，Altman Z 分数越高，ESG 表现与智力资本之间的正相关关系就越显著。本研究的结论为有关环境、社会和公司治理绩效与智力资本的稀缺文献做出了贡献。环境、社会和公司治理表现突出且在可持续发展方面取得杰出成就的企业具有竞争优势；因此，有关企业吸纳、生成、转移和应用知识资本战略的信息可为利益相关者提供对企业未来的长期展望。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Asia Pacific Management Review MANAGEMENT-

CiteScore

8.00

自引率

4.50%

发文量

期刊介绍： Asia Pacific Management Review (APMR), peer-reviewed and published quarterly, pursues to publish original and high quality research articles and notes that contribute to build empirical and theoretical understanding for concerning strategy and management aspects in business and activities. Meanwhile, we also seek to publish short communications and opinions addressing issues of current concern to managers in regards to within and between the Asia-Pacific region. The covered domains but not limited to, such as accounting, finance, marketing, decision analysis and operation management, human resource management, information management, international business management, logistic and supply chain management, quantitative and research methods, strategic and business management, and tourism management, are suitable for publication in the APMR.