The evolving landscape of intellectual capital and sustainable finance practices and their role in enhancing dynamic financial performance
Risna Wijayanti, Tajul Ariffin Masron, Zelfi Nur Azizah, Nuraini Desty Nurmasari, Muhammed JawoPurpose
This study aims to examine the relationship between intellectual capital (IC) and sustainable finance (SF) and maps their influence on dynamic financial performance (DFP). It conceptualizes integration as a mechanism driving financial adaptability, corporate resilience and value creation.
Design/methodology/approach
A bibliometric analysis of 532 Scopus-indexed articles (2015–2024) was conducted using RStudio and Biblioshiny. The study identifies publication trends, key journals, citation patterns, thematic evolution and research clusters. A preferred reporting items for systematic reviews and meta-analyses (PRISMA)-style process ensured transparency and reproducibility.
Findings
Results show research linking IC, SF and financial performance after 2020, following initiatives, including COP26 and EU Taxonomy. Thematic mapping shows a shift from IC-focused studies to SF-driven themes emphasizing environmental, social and governance (ESG), innovation and resilience, with key clusters including intellectual capital and firm performance, sustainable finance and ESG integration, innovation and sustainability, corporate governance and dynamic capabilities. The synergy between IC and SF emerges as a crucial driver of DFP in dynamic business environments.
Research limitations/implications
This study is limited to Scopus and bibliometric indicators. Future research could use longitudinal designs to test causal links between IC, SF and DFP.
Practical implications
This study offers guidance for managers and policymakers leveraging IC to support SF, strengthen ESG governance and enhance financial adaptability, while informing sustainability reporting frameworks.
Social implications
This study integrates SF with IC to support equitable growth and alignment with the Sustainable Development Goals (SDGs).
Originality/value
This study provides one of the first comprehensive bibliometric mappings connecting IC and SF to DFP, identifying key thematic clusters and advancing a dynamic capabilities-based framework for achieving adaptive sustainable financial performance.