The Impact of Intangible Resources on the Financial Performance of IT Firms

Purpose: The role of intangible resources in corporate financial performance has gained increasing attention in economic research. This study examines the impact of intangible resourcese on financial performance in the technology sector, focusing on firms engaged in energy-related projects. Design/Methodology/Approach: A panel data analysis of 17 IT companies listed on the Warsaw Stock Exchange (2018–2022) employs a Fixed Effects Model (FEM) to assess the relationship between intangible resources and financial indicators: Return on assets (ROA) and Return on equity (ROE). Findings: The results confirm that energy engagement enhances profitability, with a statistically significant positive effect on ROA and ROE. Relational resources emerges as the strongest determinant of financial performance, highlighting the importance of business partnerships. Human resources likewise exert a positive and significant influence, emphasizing the critical role employee knowledge and skills. Structural resources, however, show an insignificant or negative impact, suggesting that infrastructure alone does not drive success. Practical implications: These findings emphasize the strategic role of intangible resources and suggest that energy engagement amplifies financial benefits for IT firms. Future research should explore the synergy between intangible assets and sustainability initiatives in IT sectors and energy factors. Originality/Value: This study uniquely explores how intangible resources influence financial performance at the intersection of IT and energy sectors. By emphasizing relational capital as the key driver of profitability, it provides novel evidence from an emerging European market and offers practical insights.