Corporate social responsibility, intellectual capital and innovation performance: Evidence from ICT industry in Ho Chi Minh City
Main Article Content
Abstract
Adapted from resource-based theory, this study aims to propose and test a theoretical model of the relationship between corporate social responsibility (CSR) strategies and their innovation performance (INP) via the mediating role of intellectual capital (IC). This investigation employed a questionnaire-based survey method to collect data using convenience sampling. This reasearch collected 385 valid responses from respondents who are managers at enterprises in the information and communication technology (ICT) industry in Ho Chi Minh City. The empirical results showed that CSR positively affected innovation performance in ICT firms, and this effect was positively mediated by intellectual capital. However, compared with human capital and structural capital, relational capital played a stronger role in mediating the relationship between CSR and innovation performance. The present research provided insights for understanding the CSR-INP relationship and had important managerial implications for firms to manage their CSR and intellectual capital strategies and improve their innovation performance to achieve competitive advantage.
Article Details
Keywords
Competitive advantage , Corporate social responsibility , Innovation performance , Intellectual capital
References
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Alvarado-Herrera, A., Bigne, E., Aldas-Manzano, J., & Curras-Perez, R. (2017). A Scale for Measuring Consumer Perceptions of Corporate Social Responsibility Following the Sustainable Development Paradigm. Journal of Business Ethics, 140(2), 243-262.
Anderson, J. C., & Gerbing, D. W. (1988). Structural Equation Modeling in Practice: A Review and Recommended Two-Step Approach. Psychological Bulletin, 103(3), 411-423.
Aras, G., Aybars, A., & Kutlu, O. (2011). The interaction between corporate social responsibility and value added intellectual capital: empirical evidence from Turkey. Social Responsibility Journal, 7(4), 622-637.
Bahta, D., Yun, J., Islam, M. R., & Ashfaq, M. (2020). Corporate social responsibility, innovation capability and firm performance: evidence from SME. Social Responsibility Journal, Vol. ahead-of-print No. ahead-of-print. doi: 10.1108/SRJ-12-2019-0401
Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99-120.
Bhattacharya, C. B., & Sen, S. (2004). Doing Better at Doing Good: When, Why, and How Consumers Respond to Corporate Social Initiatives. California Management Review, 47(1), 9-24.
Bộ Thông tin và Truyền thông (2020). Sách trắng Công nghệ thông tin và Truyền thông Việt Nam 2020. Hà Nội: Nhà xuất bản Thông tin và Truyền thông.
Bocquet, R., Le Bas, C., Mothe, C., & Poussing, N. (2013). Are firms with different CSR profiles equally innovative? Empirical analysis with survey data. European Management Journal, 31(6), 642-654.
Bontis, N. (1998). Intellectual capital: an exploratory study that develops measures and models. Management Decision, 36(2), 64-76.
Bontis, N., Seleim, A., & Ashour, A. (2007). Human capital and organizational performance: a study of Egyptian software companies. Management Decision, 45(4), 789-801.
Branco, M. C., & Rodrigues, L. L. (2006). Corporate Social Responsibility and Resource-Based Perspectives. Journal of Business Ethics, 69(2), 111-132.
Broadstock, D. C., Matousek, R., Meyer, M., & Tzeremes, N. G. (2020). Does corporate social responsibility impact firms' innovation capacity? The indirect link between environmental & social governance implementation and innovation performance. Journal of Business Research, 119(2020), 99-110.
Buenechea-Elberdin, M., Sáenz, J., & Kianto, A. (2018). Knowledge management strategies, intellectual capital, and innovation performance: a comparison between high-and low-tech firms. Journal of Knowledge Management, 22(8), 1757-1781.
Cabrilo, S., & Dahms, S. (2020). The Role of Multidimensional Intellectual Capital and Organizational Learning Practices in Innovation Performance. European Management Review, 17(4), 835-855.
Cabrilo, S., & Grubic-Nesic, L. (2013). The Role of Creativity, Innovation, and Invention in Knowledge Management. In Buckley, S., B., & Jakovljevic, M. (Eds.), Knowledge Management Innovations for Interdisciplinary Education: Organizational Applications (pp.207–233). Hershey PA: IGI Global.
Carroll, A. B. (1979). A Three-Dimensional Conceptual Model of Corporate Performance. Academy of Management Review, 4(4), 497-505.
Chang, C. H., & Chen, Y. S. (2012). The determinants of green intellectual capital. Management Decision, 50(1), 74-94.
Clarkson, M. (1995). A stakeholder framework for analyzing and evaluating corporate social responsibility. Academy of Management Review, 20(1), 92-118.
Davis, K., & Blomstrom, R.L. (1975). Business and Society: Environment and Responsibiliyt. New York, NY.: McGraw-Hill.
Edvinsson, L., & Malone, M.S. (1997). Intellectual Capital: Realizing Your Company’s True Value by Finding Its Hidden Brainpower. New York: HarperBusiness.
Fombrun, C. J., Gardberg, N. A., & Barnett, M. L. (2000). Opportunity Platforms and Safety Nets: Corporate Citizenship and Reputational Risk. Business and Society Review, 105(1), 85-106.
Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39-50.
Gallardo-Vázquez, D., Valdez-Juárez, L. E., & Lizcano-Álvarez, J. L. (2019). Corporate Social Responsibility and Intellectual Capital: Sources of Competitiveness and Legitimacy in Organizations’ Management Practices. Sustainability, 11(20), 5843.
Gangi, F., Mustilli, M., & Varrone, N. (2019). The impact of corporate social responsibility (CSR) knowledge on corporate financial performance: evidence from the European banking industry. Journal of Knowledge Management, 23(1), 110-134.
García-Piqueres, G., & García-Ramos, R. (2020). Is the corporate social responsibility-innovation link homogeneous?: Looking for sustainable innovation in the Spanish context. Corporate Social Responsibility and Environmental Management, 27(2), 803-814.
Gonzalez-Padron, T., Hult, G. T. M., & Calantone, R. (2008). Exploiting innovative opportunities in global purchasing: An assessment of ethical climate and relationship performance. Industrial Marketing Management, 37(1), 69-82.
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2014). Multivariate Data Analysis. England: Pearson New International Edition.
Han, Y., & Li, D. (2015). Effects of intellectual capital on innovative performance: The role of knowledge-based dynamic capability. Management Decision, 53(1), 40-56.
Holste, J. S., & Fields, D. (2010). Trust and tacit knowledge sharing and use. Journal of Knowledge Management, 14(1), 128-140.
Hooghiemstra, R. (2000). Corporate Communication and Impression Management – New Perspectives Why Companies Engage in Corporate Social Reporting. Journal of Business Ethics, 27(1), 55-68.
Hu, L. T., & Bentler, P. M. (1999). Cutoff criteria for fit indexes in covariance structure analysis: Conventional criteria versus new alternatives. Structural Equation Modeling: A Multidisciplinary Journal, 6(1), 1-55.
Jain, P., Vyas, V., & Roy, A. (2017). Exploring the Mediating Role of Intellectual Capital and Competitive Advantage on the Relation between CSR and Financial Performance in SMEs. Social Responsibility Journal, 13(1), 1-23.
Karagiannis, D., Waldner, F., Stoeger, A., & Nemetz, M. (2008). A Knowledge Management Approach for Structural Capital. In Yamaguchi, T. (Eds.), Practical Aspects of Knowledge Management, 7th International Conference, PAKM 2008, Proceedings (pp.135-146). Berlin: Springer.
Kline, R. B. (2015). Principles and Practice of Structural Equation Modeling. NewYork: The Guilford Press.
Ko, K. C., Nie, J., Ran, R., & Gu, Y. (2020). Corporate social responsibility, social identity, and innovation performance in China. Pacific-Basin Finance Journal, 63(2020), 101415.
Kumari, K., Usmani, S., & Hussain, J. (2015). Responsible leadership and intellectual capital: The mediating effects of effective team work. Journal of Economics, Business and Management, 3(2), 176-182.
Lu, J., Ren, L., Zhang, C., Rong, D., Ahmed, R. R., & Streimikis, J. (2020). Modified Carroll’s pyramid of corporate social responsibility to enhance organizational performance of SMEs industry. Journal of Cleaner Production, 271(2020), 122456.
Mention, A. L., & Bontis, N. (2013). Intellectual capital and performance within the banking sector of Luxembourg and Belgium. Journal of Intellectual Capital, 14(2), 286-309.
Nguyen, M., Bensemann, J., & Kelly, S. (2018). Corporate social responsibility (CSR) in Vietnam: a conceptual framework. International Journal of Corporate Social Responsibility, 3(1), 1-12.
Nirino, N., Ferraris, A., Miglietta, N., & Invernizzi, A. C. (2020). Intellectual capital: the missing link in the corporate social responsibility–financial performance relationship. Journal of Intellectual Capital, Vol. ahead-of-print No. ahead-of-print. doi: 10.1108/JIC-02-2020-0038.
Nonaka, I. (1994). A Dynamic Theory of Organizational Knowledge Creation. Organization Science, 5(1), 14-37.
Obeidat, B. Y., Abdallah, A. B., Aqqad, N. O., Akhoershiedah, A. H. O. M., & Maqableh, M. (2016). The effect of intellectual capital on organizational performance: The mediating role of knowledge sharing. Communications and Network, 9(1), 1-27.
Olalla, F.M. (1999). The resource-based theory and human resources. International Advances in Economic Research, 5(1), 84-92.
Pintea, M. O. (2015). The relationship between corporate governance and corporate social responsibility. Review of Economic Studies and Research Virgil Madgearu, 8(1), 91-108.
Sáenz, J., & Aramburu, N. (2011). Towards a New Approach for Measuring Innovation: The Innovation-Value Path. In Vallejo-Alonso, B., Rodriguez-Castellanos, A., & Arregui-Ayastuy, G. (Eds), Identifying, Measuring, and Valuing Knowledge-Based Intangible
Schilling, M. (2011). Strategic Management of Technological Innovation (3rd ed.). New York: McGraw Hill.
Sekaran, U., & Bougie, R. (2016). Research Methods for Business: A Skill-Building Approach (Seventh Edition). New York: Wiley.
Sivalogathasan, V., & Wu, X. (2015). Impact of Organization Motivation on Intellectual Capital and Innovation Capability of the Textile and Apparel Industry in Sri Lanka. International Journal of Innovation Science, 7(2), 153-168.
Subramaniam, M., & Youndt, M. A. (2005). The Influence of Intellectual Capital on the Types of Innovative Capabilities. Academy of Management Journal, 48(3), 450-463.
Tidd, J., & Bessant, J. (2009). Innovation – what it is and why it matters. In Tidd, J., & Bessant, J. R. (2009), Managing innovation: Integrating Technological, Market and Organizational Change, 4th ed. (pp.3-53). England : John Wiley & Sons
Turban, D. B., & Greening, D. W. (1997). Corporate social performance and organizational attractiveness to prospective employees. Academy of Management Journal, 40(3), 658-672.
Varadarajan, R. (2018). Innovation, innovation strategy, and strategic innovation.. Innovation and Strategy, 15(2018), 143-166.
Wang, C. N., Nguyen, T. D., & Le, M. D. (2019). Assessing Performance Efficiency of Information and Communication Technology Industry-Forecasting and Evaluating: The Case in Vietnam. Applied Sciences, 9(19), 3996.
Wang, Z., Wang, N., & Liang, H. (2014). Knowledge sharing, intellectual capital and firm performance. Management Decision, 52(2), 230-258.
Weaver, G. R., Trevino, L. K., & Cochran, P. L. (1999). Integrated and decoupled corporate social performance: Management commitments, external pressures, and corporate ethics practices. Academy of management journal, 42(5), 539-552.
Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5(2), 171-180.
Wu, S. H., Lin, L. Y., & Hsu, M. Y. (2007). Intellectual capital, dynamic capabilities and innovative performance of organisations. International Journal of Technology Management, 39(3-4), 279-296.
Wu, W., Liang, Z., & Zhang, Q. (2020). Effects of corporate environmental responsibility strength and concern on innovation performance: The moderating role of firm visibility. Corporate Social Responsibility and Environmental Management, 27(3), 1487-1497.
Youndt, M. A., Subramaniam, M., & Snell, S. A. (2004). Intellectual Capital Profiles: An Examination of Investments and Returns. Journal of Management Studies, 41(2), 335-361.
Zhou, H., Wang, Q., & Zhao, X. (2020). Corporate social responsibility and innovation: a comparative study. Industrial Management & Data Systems, 120(5), 863-882.
Alvarado-Herrera, A., Bigne, E., Aldas-Manzano, J., & Curras-Perez, R. (2017). A Scale for Measuring Consumer Perceptions of Corporate Social Responsibility Following the Sustainable Development Paradigm. Journal of Business Ethics, 140(2), 243-262.
Anderson, J. C., & Gerbing, D. W. (1988). Structural Equation Modeling in Practice: A Review and Recommended Two-Step Approach. Psychological Bulletin, 103(3), 411-423.
Aras, G., Aybars, A., & Kutlu, O. (2011). The interaction between corporate social responsibility and value added intellectual capital: empirical evidence from Turkey. Social Responsibility Journal, 7(4), 622-637.
Bahta, D., Yun, J., Islam, M. R., & Ashfaq, M. (2020). Corporate social responsibility, innovation capability and firm performance: evidence from SME. Social Responsibility Journal, Vol. ahead-of-print No. ahead-of-print. doi: 10.1108/SRJ-12-2019-0401
Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99-120.
Bhattacharya, C. B., & Sen, S. (2004). Doing Better at Doing Good: When, Why, and How Consumers Respond to Corporate Social Initiatives. California Management Review, 47(1), 9-24.
Bộ Thông tin và Truyền thông (2020). Sách trắng Công nghệ thông tin và Truyền thông Việt Nam 2020. Hà Nội: Nhà xuất bản Thông tin và Truyền thông.
Bocquet, R., Le Bas, C., Mothe, C., & Poussing, N. (2013). Are firms with different CSR profiles equally innovative? Empirical analysis with survey data. European Management Journal, 31(6), 642-654.
Bontis, N. (1998). Intellectual capital: an exploratory study that develops measures and models. Management Decision, 36(2), 64-76.
Bontis, N., Seleim, A., & Ashour, A. (2007). Human capital and organizational performance: a study of Egyptian software companies. Management Decision, 45(4), 789-801.
Branco, M. C., & Rodrigues, L. L. (2006). Corporate Social Responsibility and Resource-Based Perspectives. Journal of Business Ethics, 69(2), 111-132.
Broadstock, D. C., Matousek, R., Meyer, M., & Tzeremes, N. G. (2020). Does corporate social responsibility impact firms' innovation capacity? The indirect link between environmental & social governance implementation and innovation performance. Journal of Business Research, 119(2020), 99-110.
Buenechea-Elberdin, M., Sáenz, J., & Kianto, A. (2018). Knowledge management strategies, intellectual capital, and innovation performance: a comparison between high-and low-tech firms. Journal of Knowledge Management, 22(8), 1757-1781.
Cabrilo, S., & Dahms, S. (2020). The Role of Multidimensional Intellectual Capital and Organizational Learning Practices in Innovation Performance. European Management Review, 17(4), 835-855.
Cabrilo, S., & Grubic-Nesic, L. (2013). The Role of Creativity, Innovation, and Invention in Knowledge Management. In Buckley, S., B., & Jakovljevic, M. (Eds.), Knowledge Management Innovations for Interdisciplinary Education: Organizational Applications (pp.207–233). Hershey PA: IGI Global.
Carroll, A. B. (1979). A Three-Dimensional Conceptual Model of Corporate Performance. Academy of Management Review, 4(4), 497-505.
Chang, C. H., & Chen, Y. S. (2012). The determinants of green intellectual capital. Management Decision, 50(1), 74-94.
Clarkson, M. (1995). A stakeholder framework for analyzing and evaluating corporate social responsibility. Academy of Management Review, 20(1), 92-118.
Davis, K., & Blomstrom, R.L. (1975). Business and Society: Environment and Responsibiliyt. New York, NY.: McGraw-Hill.
Edvinsson, L., & Malone, M.S. (1997). Intellectual Capital: Realizing Your Company’s True Value by Finding Its Hidden Brainpower. New York: HarperBusiness.
Fombrun, C. J., Gardberg, N. A., & Barnett, M. L. (2000). Opportunity Platforms and Safety Nets: Corporate Citizenship and Reputational Risk. Business and Society Review, 105(1), 85-106.
Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39-50.
Gallardo-Vázquez, D., Valdez-Juárez, L. E., & Lizcano-Álvarez, J. L. (2019). Corporate Social Responsibility and Intellectual Capital: Sources of Competitiveness and Legitimacy in Organizations’ Management Practices. Sustainability, 11(20), 5843.
Gangi, F., Mustilli, M., & Varrone, N. (2019). The impact of corporate social responsibility (CSR) knowledge on corporate financial performance: evidence from the European banking industry. Journal of Knowledge Management, 23(1), 110-134.
García-Piqueres, G., & García-Ramos, R. (2020). Is the corporate social responsibility-innovation link homogeneous?: Looking for sustainable innovation in the Spanish context. Corporate Social Responsibility and Environmental Management, 27(2), 803-814.
Gonzalez-Padron, T., Hult, G. T. M., & Calantone, R. (2008). Exploiting innovative opportunities in global purchasing: An assessment of ethical climate and relationship performance. Industrial Marketing Management, 37(1), 69-82.
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2014). Multivariate Data Analysis. England: Pearson New International Edition.
Han, Y., & Li, D. (2015). Effects of intellectual capital on innovative performance: The role of knowledge-based dynamic capability. Management Decision, 53(1), 40-56.
Holste, J. S., & Fields, D. (2010). Trust and tacit knowledge sharing and use. Journal of Knowledge Management, 14(1), 128-140.
Hooghiemstra, R. (2000). Corporate Communication and Impression Management – New Perspectives Why Companies Engage in Corporate Social Reporting. Journal of Business Ethics, 27(1), 55-68.
Hu, L. T., & Bentler, P. M. (1999). Cutoff criteria for fit indexes in covariance structure analysis: Conventional criteria versus new alternatives. Structural Equation Modeling: A Multidisciplinary Journal, 6(1), 1-55.
Jain, P., Vyas, V., & Roy, A. (2017). Exploring the Mediating Role of Intellectual Capital and Competitive Advantage on the Relation between CSR and Financial Performance in SMEs. Social Responsibility Journal, 13(1), 1-23.
Karagiannis, D., Waldner, F., Stoeger, A., & Nemetz, M. (2008). A Knowledge Management Approach for Structural Capital. In Yamaguchi, T. (Eds.), Practical Aspects of Knowledge Management, 7th International Conference, PAKM 2008, Proceedings (pp.135-146). Berlin: Springer.
Kline, R. B. (2015). Principles and Practice of Structural Equation Modeling. NewYork: The Guilford Press.
Ko, K. C., Nie, J., Ran, R., & Gu, Y. (2020). Corporate social responsibility, social identity, and innovation performance in China. Pacific-Basin Finance Journal, 63(2020), 101415.
Kumari, K., Usmani, S., & Hussain, J. (2015). Responsible leadership and intellectual capital: The mediating effects of effective team work. Journal of Economics, Business and Management, 3(2), 176-182.
Lu, J., Ren, L., Zhang, C., Rong, D., Ahmed, R. R., & Streimikis, J. (2020). Modified Carroll’s pyramid of corporate social responsibility to enhance organizational performance of SMEs industry. Journal of Cleaner Production, 271(2020), 122456.
Mention, A. L., & Bontis, N. (2013). Intellectual capital and performance within the banking sector of Luxembourg and Belgium. Journal of Intellectual Capital, 14(2), 286-309.
Nguyen, M., Bensemann, J., & Kelly, S. (2018). Corporate social responsibility (CSR) in Vietnam: a conceptual framework. International Journal of Corporate Social Responsibility, 3(1), 1-12.
Nirino, N., Ferraris, A., Miglietta, N., & Invernizzi, A. C. (2020). Intellectual capital: the missing link in the corporate social responsibility–financial performance relationship. Journal of Intellectual Capital, Vol. ahead-of-print No. ahead-of-print. doi: 10.1108/JIC-02-2020-0038.
Nonaka, I. (1994). A Dynamic Theory of Organizational Knowledge Creation. Organization Science, 5(1), 14-37.
Obeidat, B. Y., Abdallah, A. B., Aqqad, N. O., Akhoershiedah, A. H. O. M., & Maqableh, M. (2016). The effect of intellectual capital on organizational performance: The mediating role of knowledge sharing. Communications and Network, 9(1), 1-27.
Olalla, F.M. (1999). The resource-based theory and human resources. International Advances in Economic Research, 5(1), 84-92.
Pintea, M. O. (2015). The relationship between corporate governance and corporate social responsibility. Review of Economic Studies and Research Virgil Madgearu, 8(1), 91-108.
Sáenz, J., & Aramburu, N. (2011). Towards a New Approach for Measuring Innovation: The Innovation-Value Path. In Vallejo-Alonso, B., Rodriguez-Castellanos, A., & Arregui-Ayastuy, G. (Eds), Identifying, Measuring, and Valuing Knowledge-Based Intangible
Schilling, M. (2011). Strategic Management of Technological Innovation (3rd ed.). New York: McGraw Hill.
Sekaran, U., & Bougie, R. (2016). Research Methods for Business: A Skill-Building Approach (Seventh Edition). New York: Wiley.
Sivalogathasan, V., & Wu, X. (2015). Impact of Organization Motivation on Intellectual Capital and Innovation Capability of the Textile and Apparel Industry in Sri Lanka. International Journal of Innovation Science, 7(2), 153-168.
Subramaniam, M., & Youndt, M. A. (2005). The Influence of Intellectual Capital on the Types of Innovative Capabilities. Academy of Management Journal, 48(3), 450-463.
Tidd, J., & Bessant, J. (2009). Innovation – what it is and why it matters. In Tidd, J., & Bessant, J. R. (2009), Managing innovation: Integrating Technological, Market and Organizational Change, 4th ed. (pp.3-53). England : John Wiley & Sons
Turban, D. B., & Greening, D. W. (1997). Corporate social performance and organizational attractiveness to prospective employees. Academy of Management Journal, 40(3), 658-672.
Varadarajan, R. (2018). Innovation, innovation strategy, and strategic innovation.. Innovation and Strategy, 15(2018), 143-166.
Wang, C. N., Nguyen, T. D., & Le, M. D. (2019). Assessing Performance Efficiency of Information and Communication Technology Industry-Forecasting and Evaluating: The Case in Vietnam. Applied Sciences, 9(19), 3996.
Wang, Z., Wang, N., & Liang, H. (2014). Knowledge sharing, intellectual capital and firm performance. Management Decision, 52(2), 230-258.
Weaver, G. R., Trevino, L. K., & Cochran, P. L. (1999). Integrated and decoupled corporate social performance: Management commitments, external pressures, and corporate ethics practices. Academy of management journal, 42(5), 539-552.
Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5(2), 171-180.
Wu, S. H., Lin, L. Y., & Hsu, M. Y. (2007). Intellectual capital, dynamic capabilities and innovative performance of organisations. International Journal of Technology Management, 39(3-4), 279-296.
Wu, W., Liang, Z., & Zhang, Q. (2020). Effects of corporate environmental responsibility strength and concern on innovation performance: The moderating role of firm visibility. Corporate Social Responsibility and Environmental Management, 27(3), 1487-1497.
Youndt, M. A., Subramaniam, M., & Snell, S. A. (2004). Intellectual Capital Profiles: An Examination of Investments and Returns. Journal of Management Studies, 41(2), 335-361.
Zhou, H., Wang, Q., & Zhao, X. (2020). Corporate social responsibility and innovation: a comparative study. Industrial Management & Data Systems, 120(5), 863-882.
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