Green Intellectual Capital: a critical factor to explain the relationship between corporate sustainable and financial performance

Ioannis E. Nikolaou (), Thomas A. Tsalis, Ioannis Kostakis, Fotini Stergiopoulou, Ifigeneia Athanasiadou, Georgios Lanaras-Mamounis and Konstantinos P. Tsagarakis
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Ioannis E. Nikolaou: Democritus University of Thrace
Thomas A. Tsalis: Democritus University of Thrace
Ioannis Kostakis: Harokopio University of Athens
Fotini Stergiopoulou: Democritus University of Thrace
Ifigeneia Athanasiadou: Democritus University of Thrace
Georgios Lanaras-Mamounis: Democritus University of Thrace
Konstantinos P. Tsagarakis: Technical University of Crete Chania

Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 2024, vol. 26, issue 9, No 37, 22863-22884

Abstract: Abstract Following the knowledge-based and intellectual capital-based view of firms, where knowledge is at the center of corporate strategic management, this paper aims to examine the role of Green Intellectual Capital (GIC) in the environmental and financial dimensions of corporate performance. To do so, a methodological framework was developed to evaluate the progress of GIC and corporate environmental performance by utilizing information and data from sustainability reports. Also, the Return of Equity (ROE) indicator was used to assess corporate financial performance. The proposed methodology was applied in a sample of 80 firms to examine the mediator role of GIC in the relationship between financial and environmental performance. The findings show a positive relationship between GIC (as a result of Green Relational Capital (GRC) and Green Organizational Capital (GOC)) and financial performance (ROE), as well as a significant positive relationship between environmental performance and the components of Green Intellectual Capital. Finally, a nonlinear U-shaped relationship between environmental and financial performance is identified.

Keywords: Corporate social responsibility; Knowledge-based theory; Knowledge management; Benchmarking-scoring technique; Green intellectual capital (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10668-023-03579-1

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