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Do Corporate Social Responsibility and Corporate Governance Influence Intellectual Capital Efficiency?

Francesco Gangi (), Dario Salerno (), Antonio Meles () and Lucia Michela Daniele ()
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Francesco Gangi: Department of Economics, Università degli Studi della Campania “Luigi Vanvitelli”, 81043 Capua, Italy
Dario Salerno: Department of Economics, University of Rome “Tor Vergata”, 00100 Rome, Italy
Antonio Meles: Department of Economics, Università degli Studi della Campania “Luigi Vanvitelli”, 81043 Capua, Italy
Lucia Michela Daniele: Department of Economics, Università degli Studi della Campania “Luigi Vanvitelli”, 81043 Capua, Italy

Sustainability, 2019, vol. 11, issue 7, 1-25

Abstract: Using a large sample of public firms in 51 countries during the period from 2010 to 2015 and a two-stage least squares (2SLS) regression with an instrumental variable (IV), this study investigates how corporate social responsibility (CSR) and corporate governance (CG) mechanisms interact to influence a firm’s intellectual capital (IC) efficiency. The empirical results reveal that CSR engagement and CG structures influence the firm efficiency in managing IC. This study contributes to managerial practice by demonstrating the causal effect of CSR on value-added intellectual capital (VAIC) measures and the positive impact of CG on both CSR engagement and the efficiency with which firms manage their IC. Furthermore, the current study provides an additional understanding of the relationship among CSR engagement, CG practices, and the determining factors of IC efficiency within a comprehensive framework.

Keywords: corporate social responsibility; corporate governance; intellectual capital; VAIC (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
Date: 2019
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