The Moderating Role of Corporate Governance in the Relationship between Green Intellectual Capital and Financial Performance

DOI

10.2991/978-94-6463-938-4_58How to use a DOI?

Keywords

Corporate Governance; ESGQKehati Index; Green Intellectual Capital; Return on Invested Capital

Abstract

Intellectual capital is part of the intangible assets that companies use to create competitive advantage. This study aims to investigate the impact of green intellectual capital on financial performance, with good corporate governance as a moderating variable. The study sample consisted of 102 firm years listed in the ESGQKehati index on the Indonesia Stock Exchange during 2021–2023. In this study, green intellectual capital is measured using the Value-Added Intellectual Coefficient (VAIC), while financial performance is measured using Return on Invested Capital (ROIC). Corporate governance is represented by institutional ownership. The results revealed that green intellectual capital has a significant positive effect on corporate financial performance. However, good corporate governance was not proven to moderate the relationship between green intellectual capital and financial performance. This finding suggests that green intellectual capital disclosure can drive improved corporate financial performance, but the oversight role of institutional investors is not yet effective enough in strengthening this relationship.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Sabar Warsini
AU  - Rida Ratna Jelita
AU  - Yusep Friya P
PY  - 2025
DA  - 2025/12/31
TI  - The Moderating Role of Corporate Governance in the Relationship between Green Intellectual Capital and Financial Performance
BT  - Proceedings of the International Conference on Applied Science and Technology on Social Science 2025 (iCAST-SS 2025
PB  - Atlantis Press
SP  - 510
EP  - 518
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-938-4_58
DO  - 10.2991/978-94-6463-938-4_58
ID  - Warsini2025
ER  -