Intellectual capital, R&D and sustainable financial performance: Moderating role of firm characteristics in an emerging market
Intellectual capital (IC) is a crucial driver of sustainable financial performance, particularly in the chemical and pharmaceutical industries. This study uses panel data from Vietnamese firms between 2017 and 2022 to investigate how IC and research and development (R&D) investment influence fir...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Universiti Malaysia Sarawak
2025
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| Subjects: | |
| Online Access: | https://umpir.ump.edu.my/id/eprint/45435/ |
| _version_ | 1848827418159087616 |
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| author | Le, Hanh Thi My Uyen, Nguyen Ngoc Huong, Nguyen Thi Thanh Ting, Irene Wei Kiong |
| author_facet | Le, Hanh Thi My Uyen, Nguyen Ngoc Huong, Nguyen Thi Thanh Ting, Irene Wei Kiong |
| author_sort | Le, Hanh Thi My |
| building | UMP Institutional Repository |
| collection | Online Access |
| description | Intellectual capital (IC) is a crucial driver of sustainable financial performance, particularly in the chemical and pharmaceutical industries. This study uses panel data from Vietnamese firms between 2017 and 2022 to investigate how IC and research and development (R&D) investment influence firm sustainability in an emerging market. This research, compared with previous studies, confirms the positive impact of IC and R&D on short- and long-term financial stability and also highlights the moderating role of firm characteristics. Specifically, firm size and growth rate enhance the benefits of R&D investment, whilst older firms exhibit a diminishing effect, potentially owing to reduced adaptability or innovation capacity. By emphasising the relationship amongst R&D, IC and firm characteristics, this study offers fresh insights into maximising financial sustainability in dynamic markets. Findings provide a foundation for future research and practical strategies to foster long-term competitiveness in emerging economies. |
| first_indexed | 2025-11-15T04:00:24Z |
| format | Article |
| id | ump-45435 |
| institution | Universiti Malaysia Pahang |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T04:00:24Z |
| publishDate | 2025 |
| publisher | Universiti Malaysia Sarawak |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | ump-454352025-08-20T03:53:02Z https://umpir.ump.edu.my/id/eprint/45435/ Intellectual capital, R&D and sustainable financial performance: Moderating role of firm characteristics in an emerging market Le, Hanh Thi My Uyen, Nguyen Ngoc Huong, Nguyen Thi Thanh Ting, Irene Wei Kiong HD28 Management. Industrial Management HG Finance Intellectual capital (IC) is a crucial driver of sustainable financial performance, particularly in the chemical and pharmaceutical industries. This study uses panel data from Vietnamese firms between 2017 and 2022 to investigate how IC and research and development (R&D) investment influence firm sustainability in an emerging market. This research, compared with previous studies, confirms the positive impact of IC and R&D on short- and long-term financial stability and also highlights the moderating role of firm characteristics. Specifically, firm size and growth rate enhance the benefits of R&D investment, whilst older firms exhibit a diminishing effect, potentially owing to reduced adaptability or innovation capacity. By emphasising the relationship amongst R&D, IC and firm characteristics, this study offers fresh insights into maximising financial sustainability in dynamic markets. Findings provide a foundation for future research and practical strategies to foster long-term competitiveness in emerging economies. Universiti Malaysia Sarawak 2025 Article PeerReviewed pdf en cc_by_nc_sa_4 https://umpir.ump.edu.my/id/eprint/45435/1/Intellectual%20capital%2C%20R%26D%20and%20sustainable%20financial%20performance.pdf Le, Hanh Thi My and Uyen, Nguyen Ngoc and Huong, Nguyen Thi Thanh and Ting, Irene Wei Kiong (2025) Intellectual capital, R&D and sustainable financial performance: Moderating role of firm characteristics in an emerging market. International Journal of Business and Society, 26 (1). pp. 292-298. ISSN 1511-6670. (Published) https://doi.org/10.33736/ijbs.9563.2025 https://doi.org/10.33736/ijbs.9563.2025 https://doi.org/10.33736/ijbs.9563.2025 |
| spellingShingle | HD28 Management. Industrial Management HG Finance Le, Hanh Thi My Uyen, Nguyen Ngoc Huong, Nguyen Thi Thanh Ting, Irene Wei Kiong Intellectual capital, R&D and sustainable financial performance: Moderating role of firm characteristics in an emerging market |
| title | Intellectual capital, R&D and sustainable financial performance: Moderating role of firm characteristics in an emerging market |
| title_full | Intellectual capital, R&D and sustainable financial performance: Moderating role of firm characteristics in an emerging market |
| title_fullStr | Intellectual capital, R&D and sustainable financial performance: Moderating role of firm characteristics in an emerging market |
| title_full_unstemmed | Intellectual capital, R&D and sustainable financial performance: Moderating role of firm characteristics in an emerging market |
| title_short | Intellectual capital, R&D and sustainable financial performance: Moderating role of firm characteristics in an emerging market |
| title_sort | intellectual capital, r&d and sustainable financial performance: moderating role of firm characteristics in an emerging market |
| topic | HD28 Management. Industrial Management HG Finance |
| url | https://umpir.ump.edu.my/id/eprint/45435/ https://umpir.ump.edu.my/id/eprint/45435/ https://umpir.ump.edu.my/id/eprint/45435/ |