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Year 2025, Volume: 21 Issue: 1, 1 - 4, 30.07.2025

Enida Demiraj

Abstract

References

  • Carnini Pulino, S., Ciaburri, M., Magnanelli, B. S., & Nasta, L. (2022). Does ESG Disclosure Influence Firm Performance? Sustainability, 14(13), 7595.
  • Demiraj, R., Demiraj, E., & Dsouza, S. (2025). The Moderating Role of Worldwide Governance Indicators on ESG–Firm Performance Relationship: Evidence from Europe. Journal of Risk and Financial Management, 18(4), 213.
  • Demiraj, R., Dsouza, S., & Abiad, M. (2022). Working Capital Management Impact on Profitability: Pre-Pandemic and Pandemic Evidence from the European Automotive Industry. Risks, 10(12), 236.
  • Destyasa, E. W., & Bustaman, Y. (2024, December). The Effect of Intellectual Capital (IC), Good Corporate Governance (GCG) And Environmental, Social, And Corporate Governance (ESG) To Firm Value in Public Company in Indonesia. In 5th International Conference on Global Innovation and Trends in Economy 2024 (INCOGITE 2024) (pp. 843-857). Atlantis Press.
  • Dsouza, S., Demiraj, R., & Habibniya, H. (2023). Impact of liquidity and leverage on performance: Panel data evidence of Hotels and Entertainment services industry in the MENA Region. International Journal of Hospitality and Tourism Systems, 16(3).
  • Eriany, P. A. V., & Widyawati, L. (2024). ESG and Financial Performance: The Moderating Role of Intellectual Capital. EQUITY, 27(2), 226-239.
  • Fathonah, A. N., Ali, M., & Apriliana, T. (2024). Do Intellectual Capital and Environmental, Social, and Governance (ESG) on Financial Performance?Ekonomis: Journal of Economics and Business, 8(1), 497-500.
  • Gogan, L. M., Artene, A., Sarca, I., & Draghici, A. (2016). The impact of intellectual capital on organizational performance. Procedia-social and behavioral sciences, 221, 194-202.
  • Habibniya, H., Dsouza, S., Rabbani, M. R., Nawaz, N., & Demiraj, R. (2022). Impact of Capital Structure on Profitability: Panel Data Evidence of the Telecom Industry in the United States. Risks, 10(8), 157.
  • Nahapiet, J., & Ghoshal, S. (1998). Social capital, intellectual capital, and the organizational advantage. Academy of management review, 23(2), 242-266.
  • Pew Tan, Hong, David Plowman, and Phil Hancock. "Intellectual capital and financial returns of companies." Journal of Intellectual capital 8, no. 1 (2007): 76-95.
  • Pham, C. V., Liu, S. F., & Chen, S. H. (2024). Corporate ESG performance and intellectual capital: International evidence. Asia Pacific Management Review, 29(3), 306-346.
  • Pulic, A. (2004). Intellectual capital–does it create or destroy value?. Measuring business excellence, 8(1), 62-68.
  • 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.
  • Sullivan, P. H. (1999). Profiting from intellectual capital. Journal of knowledge management, 3(2), 132-143.

THE MEDIATING ROLE OF INTELLECTUAL CAPITAL IN THE ESG - PERFORMANCE RELATIONSHIP: EVIDENCE FROM THE U.S. IT INDUSTRY

Year 2025, Volume: 21 Issue: 1, 1 - 4, 30.07.2025

Enida Demiraj

Abstract

Purpose- This study aims to empirically investigate the relationship between Environmental, Social, and Governance (ESG) performance and financial performance, with a particular focus on the mediating role of intellectual capital (IC) in publicly traded IT firms in the United States.
Methodology- The research uses a sample of 204 U.S.-based publicly listed IT firms, covering 917 firm-year observations from 2011 to 2022. Descriptive statistics, correlation analysis, and multiple regression models were employed to test the proposed hypotheses and assess the impact of ESG on Return on Assets (ROA) and the potential mediating role of intellectual capital (IC).
Findings- The results indicate that intellectual capital partially mediates the relationship between ESG performance and financial performance. While IC contributes significantly to explaining the effect of ESG on ROA, it does not fully account for the relationship.
Conclusion- This study highlights the importance of considering intellectual capital as a strategic asset in enhancing the financial returns of sustainability-oriented initiatives. The findings provide actionable insights for corporate leaders and policymakers seeking to align ESG practices with long-term financial goals.

Keywords

ESG intellectual capital financial performance IT sector United States

References

  • Carnini Pulino, S., Ciaburri, M., Magnanelli, B. S., & Nasta, L. (2022). Does ESG Disclosure Influence Firm Performance? Sustainability, 14(13), 7595.
  • Demiraj, R., Demiraj, E., & Dsouza, S. (2025). The Moderating Role of Worldwide Governance Indicators on ESG–Firm Performance Relationship: Evidence from Europe. Journal of Risk and Financial Management, 18(4), 213.
  • Demiraj, R., Dsouza, S., & Abiad, M. (2022). Working Capital Management Impact on Profitability: Pre-Pandemic and Pandemic Evidence from the European Automotive Industry. Risks, 10(12), 236.
  • Destyasa, E. W., & Bustaman, Y. (2024, December). The Effect of Intellectual Capital (IC), Good Corporate Governance (GCG) And Environmental, Social, And Corporate Governance (ESG) To Firm Value in Public Company in Indonesia. In 5th International Conference on Global Innovation and Trends in Economy 2024 (INCOGITE 2024) (pp. 843-857). Atlantis Press.
  • Dsouza, S., Demiraj, R., & Habibniya, H. (2023). Impact of liquidity and leverage on performance: Panel data evidence of Hotels and Entertainment services industry in the MENA Region. International Journal of Hospitality and Tourism Systems, 16(3).
  • Eriany, P. A. V., & Widyawati, L. (2024). ESG and Financial Performance: The Moderating Role of Intellectual Capital. EQUITY, 27(2), 226-239.
  • Fathonah, A. N., Ali, M., & Apriliana, T. (2024). Do Intellectual Capital and Environmental, Social, and Governance (ESG) on Financial Performance?Ekonomis: Journal of Economics and Business, 8(1), 497-500.
  • Gogan, L. M., Artene, A., Sarca, I., & Draghici, A. (2016). The impact of intellectual capital on organizational performance. Procedia-social and behavioral sciences, 221, 194-202.
  • Habibniya, H., Dsouza, S., Rabbani, M. R., Nawaz, N., & Demiraj, R. (2022). Impact of Capital Structure on Profitability: Panel Data Evidence of the Telecom Industry in the United States. Risks, 10(8), 157.
  • Nahapiet, J., & Ghoshal, S. (1998). Social capital, intellectual capital, and the organizational advantage. Academy of management review, 23(2), 242-266.
  • Pew Tan, Hong, David Plowman, and Phil Hancock. "Intellectual capital and financial returns of companies." Journal of Intellectual capital 8, no. 1 (2007): 76-95.
  • Pham, C. V., Liu, S. F., & Chen, S. H. (2024). Corporate ESG performance and intellectual capital: International evidence. Asia Pacific Management Review, 29(3), 306-346.
  • Pulic, A. (2004). Intellectual capital–does it create or destroy value?. Measuring business excellence, 8(1), 62-68.
  • 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.
  • Sullivan, P. H. (1999). Profiting from intellectual capital. Journal of knowledge management, 3(2), 132-143.
There are 15 citations in total.

Details

Primary Language English
Subjects Finance, Business Administration
Journal Section Articles
Authors

Enida Demiraj 0000-0001-9404-1812

Publication Date July 30, 2025
Submission Date June 1, 2025
Acceptance Date June 15, 2025
Published in Issue Year 2025 Volume: 21 Issue: 1

Cite

APA Demiraj, E. (2025). THE MEDIATING ROLE OF INTELLECTUAL CAPITAL IN THE ESG - PERFORMANCE RELATIONSHIP: EVIDENCE FROM THE U.S. IT INDUSTRY. PressAcademia Procedia, 21(1), 1-4. https://doi.org/10.17261/Pressacademia.2025.1982
AMA Demiraj E. THE MEDIATING ROLE OF INTELLECTUAL CAPITAL IN THE ESG - PERFORMANCE RELATIONSHIP: EVIDENCE FROM THE U.S. IT INDUSTRY. PAP. July 2025;21(1):1-4. doi:10.17261/Pressacademia.2025.1982
Chicago Demiraj, Enida. “THE MEDIATING ROLE OF INTELLECTUAL CAPITAL IN THE ESG - PERFORMANCE RELATIONSHIP: EVIDENCE FROM THE U.S. IT INDUSTRY”. PressAcademia Procedia 21, no. 1 (July 2025): 1-4. https://doi.org/10.17261/Pressacademia.2025.1982.
EndNote Demiraj E (July 1, 2025) THE MEDIATING ROLE OF INTELLECTUAL CAPITAL IN THE ESG - PERFORMANCE RELATIONSHIP: EVIDENCE FROM THE U.S. IT INDUSTRY. PressAcademia Procedia 21 1 1–4.
IEEE E. Demiraj, “THE MEDIATING ROLE OF INTELLECTUAL CAPITAL IN THE ESG - PERFORMANCE RELATIONSHIP: EVIDENCE FROM THE U.S. IT INDUSTRY”, PAP, vol. 21, no. 1, pp. 1–4, 2025, doi: 10.17261/Pressacademia.2025.1982.
ISNAD Demiraj, Enida. “THE MEDIATING ROLE OF INTELLECTUAL CAPITAL IN THE ESG - PERFORMANCE RELATIONSHIP: EVIDENCE FROM THE U.S. IT INDUSTRY”. PressAcademia Procedia 21/1 (July2025), 1-4. https://doi.org/10.17261/Pressacademia.2025.1982.
JAMA Demiraj E. THE MEDIATING ROLE OF INTELLECTUAL CAPITAL IN THE ESG - PERFORMANCE RELATIONSHIP: EVIDENCE FROM THE U.S. IT INDUSTRY. PAP. 2025;21:1–4.
MLA Demiraj, Enida. “THE MEDIATING ROLE OF INTELLECTUAL CAPITAL IN THE ESG - PERFORMANCE RELATIONSHIP: EVIDENCE FROM THE U.S. IT INDUSTRY”. PressAcademia Procedia, vol. 21, no. 1, 2025, pp. 1-4, doi:10.17261/Pressacademia.2025.1982.
Vancouver Demiraj E. THE MEDIATING ROLE OF INTELLECTUAL CAPITAL IN THE ESG - PERFORMANCE RELATIONSHIP: EVIDENCE FROM THE U.S. IT INDUSTRY. PAP. 2025;21(1):1-4.

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