Corporate Social Responsibility and Intellectual Capital: The Moderating Role of Institutional Ownership in an Emerging Market

Ebrahim Ahmed Ali Assakaf, Ameen Qasem (), Sumaia Ayesh Qaderi and Mohammad Zaid Alaskar
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Ebrahim Ahmed Ali Assakaf: Department of Accounting, College of Business Administration in Hawtat Bani Tamim, Prince Sattam Bin Abdulaziz University, Al-Kharj 11942, Saudi Arabia
Ameen Qasem: Department of Accounting, College of Business Administration, University of Hail, Hail 55471, Saudi Arabia
Sumaia Ayesh Qaderi: Department of Accounting, College of Business Administration, University of Hail, Hail 55471, Saudi Arabia
Mohammad Zaid Alaskar: Department of Accounting, College of Business Administration in Hawtat Bani Tamim, Prince Sattam Bin Abdulaziz University, Al-Kharj 11942, Saudi Arabia

Sustainability, 2025, vol. 17, issue 11, 1-26

Abstract: This study explores how corporate social responsibility (CSR) disclosure contributes to sustainable value creation by enhancing intellectual capital (IC) and investigates the moderating role of institutional ownership (IIOW) in this relationship. Using a panel dataset of 828 firm-year observations from non-financial Saudi companies listed on the Saudi Stock Exchange (Tadawul) between 2016 and 2021, the analysis applies feasible generalized least squares (FGLS) regression to test the proposed relationships. The findings reveal a significant positive association between CSR disclosure and IC, underscoring the strategic importance of CSR in building intangible corporate assets. Moreover, IIOW strengthens this association, suggesting that IIOW plays a critical role in promoting sustainability-oriented practices. Robustness checks using alternative proxies and estimation techniques confirm the validity of the results. This study provides novel empirical evidence from Saudi Arabia, contributing to the CSR and IC literature in emerging markets and offering practical insights for policymakers, investors, and corporate leaders aiming to foster long-term organizational resilience.

Keywords: corporate social responsibility; intellectual capital; institutional investors’ ownership; emerging market; Saudi Arabia (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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