Abstract
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.
Highlights
In the knowledge era, intellectual capital (IC) is reckoned as the primary source of competitive advantage and financial sustainability, which has drawn the attention of many researchers [1,2,3,4,5]
Most of the existing studies on IC have been restricted to a certain knowledge-intensive sector such as manufacturing, pharmaceuticals, and banking, and little has been done in the renewable energy sector. e primary objective of this paper is to explore the impact of IC and its components on financial competitiveness and green innovation performance
Taking manufacturing and service firms listed in Tanzania as the sample, Kasoga [48] discovered that IC is significantly positively related to financial performance measured by return on assets (ROA), asset turnover ratio (ATO), sales growth, and market value
Summary
Intellectual capital (IC) is reckoned as the primary source of competitive advantage and financial sustainability, which has drawn the attention of many researchers [1,2,3,4,5]. It is the sum of intangible resources possessed by an organization to generate value [6]. Is paper contributes to the existing literature in four aspects It expands the current IC literature by examining its impact in the renewable energy sector that attracts relatively little attention.
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
