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The intellectual capital efficiency and corporate sustainable growth nexus: comparison from agriculture, tourism and renewable energy sector

Author

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  • Xin Long Xu

    (Hunan Normal University
    Chinese Academy of Sciences)

  • Jianping Li

    (University of Chinese Academy of Sciences)

  • Dengsheng Wu

    (Chinese Academy of Sciences)

  • Xi Zhang

    (Beijing Technology and Business University)

Abstract

In the new situation of Chinese economic development, how to achieve sustainable development of enterprises has become an important issue concerned by managers and investors. This paper selects the listed companies of agriculture, tourism and renewable energy industry as research samples, employs the MVAIC (Modified value-added intellectual coefficient) model and runs the panel data to explore the role of capital employed efficiency, intellectual capital efficiency and its components on corporate sustainable growth. The results show that in the full sample, the capital employed efficiency, intellectual capital efficiency and its components have a significant positive effect on corporate sustainable growth. In the industries samples, the impact of the relationship capital efficiency on corporate sustainable growth of agricultural enterprises is not significant, and the impact of structural capital efficiency on corporate sustainable growth of tourism enterprises is not significant. While there is a significant positive impact of intellectual capital efficiency and its components on corporate sustainable growth of renewable energy enterprises. Based on the conclusions, this paper proposes policy suggestions for promoting the sustainable development of enterprises, aiming to provide theoretical guidance and empirical evidence for managers to invest and develop intellectual capital.

Suggested Citation

  • Xin Long Xu & Jianping Li & Dengsheng Wu & Xi Zhang, 2021. "The intellectual capital efficiency and corporate sustainable growth nexus: comparison from agriculture, tourism and renewable energy sector," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(11), pages 16038-16056, November.
    • Handle: RePEc:spr:endesu:v:23:y:2021:i:11:d:10.1007_s10668-021-01319-x
    DOI: 10.1007/s10668-021-01319-x
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    2. Guangchun Jin & Jian Xu, 2022. "Does Intellectual Capital Affect Financial Leverage of Chinese Agricultural Companies? Exploring the Role of Firm Profitability," Sustainability, MDPI, vol. 14(5), pages 1-14, February.
    3. Jan Polcyn, 2022. "Determining Value Added Intellectual Capital (VAIC) Using the TOPSIS-CRITIC Method in Small and Medium-Sized Farms in Selected European Countries," Sustainability, MDPI, vol. 14(6), pages 1-20, March.
    4. Xiyuan Yu & Wenli Liu & Lingli Qing & Di Zhang, 2023. "Improving Farm Cooperatives’ Performance and Sustainability: A Study of Agricultural Managers’ Competencies Based on the Grounded Theory and the fsQCA Methods," Sustainability, MDPI, vol. 15(2), pages 1-16, January.
    5. Dongmei Shi & Lili Ren & Hongyu Li & Haizhen Zhang & Rufei Zhang, 2023. "Analysis of the Spatial Differentiation and Promotion Potential for Agricultural Eco-Efficiency—Evidence of Pollution’s Strong Disposability," IJERPH, MDPI, vol. 20(3), pages 1-20, January.
    6. Cardao-Pito, Tiago, 2025. "The end of capitalism as a concept: Towards a new political economy for understanding monetary societies in the biosphere," Innovation and Green Development, Elsevier, vol. 4(1).
    7. Nha Minh Nguyen & Malik Abu Afifa & Duong Bui, 2025. "Blockchain technology and sustainable performance: moderated-mediating model with management accounting system and digital transformation," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 27(3), pages 7255-7277, March.
    8. Md. Sohel Rana & Syed Zabid Hossain, 2023. "Intellectual Capital, Firm Performance, and Sustainable Growth: A Study on DSE-Listed Nonfinancial Companies in Bangladesh," Sustainability, MDPI, vol. 15(9), pages 1-23, April.
    9. Jinsong Zhang & Yiding Wang, 2022. "How to Improve the Corporate Sustainable Development?—The Importance of the Intellectual Capital and the Role of the Investor Confidence," Sustainability, MDPI, vol. 14(7), pages 1-17, March.
    10. Behnam Pourahmadi & Joanna Kalkowska, 2022. "Characterizing the Relationship between Growth and Development in the Context of Strategic Management via Systems Thinking: A Systematic Literature Review," Sustainability, MDPI, vol. 14(9), pages 1-20, May.
    11. Ahmed Jinjiri Bala & Aminu Hassan & Muhammad Liman Muhammad, 2024. "Do board characteristics matter in the relationship between intellectual capital efficiency and firm value? Evidence from the Nigerian oil and gas downstream sector," Future Business Journal, Springer, vol. 10(1), pages 1-24, December.
    12. Maria-Isabel Sanchez-Segura & Roxana González-Cruz & Fuensanta Medina-Dominguez & German-Lenin Dugarte-Peña, 2022. "Valuable Business Knowledge Asset Discovery by Processing Unstructured Data," Sustainability, MDPI, vol. 14(20), pages 1-24, October.
    13. Faizi Weqar & Syed Noorul Shajar & Mohammad Kashif & Saqib Noman & Mohsin Khan, 2024. "Enhancing financial sustainability: the power of intellectual capital in India’s renewable energy industry," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-12, December.

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