Many organizations today view intellectual capital (IC) as their most valuable asset. New ventures, in particular, can leverage their IC to attain and sustain a competitive advantage. This study investigates whether IC has a direct impact on venture performance. We also seek to determine if this relationship is moderated by environmental dimensions. Our findings suggest that human capital is the most critical component of IC when predicting operating performance of high-tech ventures, while intellectual property is the crucial component when predicting market-based performance. Our findings also suggest that the relationship between IC and venture performance is influenced by the environment.
Although the body of literature on female entrepreneurs is relatively small when compared to that of men; the majority of articles that have focused on female entrepreneurs and issues surrounding them center on women in developed countries. Few studies place emphasis on female entrepreneurs in developing countries. Guided by the resource-based view of human and social capital, the article explores the relationship among individual and entrepreneurial factors, institutional factors and women’s venture success in developing countries. Hypotheses are tested with a sample of 350 female entrepreneurs using individual and country level data from the Global Entrepreneurship Monitor (GEM) database and the Heritage Foundation’s Index of Economic Freedom. Female entrepreneurs were chosen from six developing countries: Argentina, Brazil, Hungary, India, Mexico and South Africa. Results indicate certain factors (i.e. household income, knowing an entrepreneur, and country of origin) play a role in venture success for female entrepreneurs in developing countries. Secondary analyses demonstrated that the developing country’s economic freedom, cultural norms, financial support and government supportiveness may also impact women’s venture success.
Using a sequential experiment, this study examines whether integration of material environmental, social, and governance (ESG) priorities into corporate strategy impacts investors’ short‐ and long‐term stock price assessments and investment allocation. In our examination, we consider the potential moderating effect of financial performance. We find that integration of ESG priorities into strategy does not have a significant effect on investors’ price assessments or investment allocation. This is true regardless of the trend in the company's financial performance. Our results hold across various demographics and the levels of investment knowledge and investment experience. Investors’ perception of relevance and reliability of material ESG information, however, has a mediating effect on their long‐term price assessment and investment allocation. Overall, our findings suggest that any future requirements on disclosure of ESG information by regulators and standard setters should aim to improve investors’ perception of the relevance and reliability of that information.
Intellectual capital (IC) has been proposed as an essential factor for organizational survival and maintenance of competitive strength. However, there has been very limited consensus on what encompasses IC and how it can best be conceptualized and measured. Further, very little empirical work has specifically examined the relationship between IC and financial performance. Given these shortcomings, this paper focuses first on the impact IC has on performance and secondly on the role strategic alliances may have on this relationship. While we argue that IC will impact performance, we anticipate this relationship will be moderated by strategic alliances and other inter-firm collaborations. Findings reveal interesting relationships that suggest further effort should be placed on the conceptualization and measurement of IC, specifically regarding its relationship to firm performance.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.