Browsing by Author "Ren, Chunya"
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Item Environmental, social, and governance and corporate efficiency: mediating role of R&D in achieving sustainable development goals(Routledge, 2023) Kweh, Qian Long; Ting, Irene Wei Kiong; Ren, Chunya; Lu, Wen-MinWe examine whether and how research and development (R&D) mediates the association between environmental, social, and governance (ESG) pillars and corporate efficiency among companies within the supply chain of Microsoft Corporation from 2012 to 2020. An estimation of corporate efficiency using data envelopment analysis (DEA) indicates that companies should first improve their innovational efficiency (mean DEA score = 0.371), then operational efficiency (mean DEA score = 0.659), and finally profitability efficiency (mean DEA score = 0.695). Moreover, a mediation analysis confirms the mediating role of R&D intensity. Overall, R&D should be one of the spotlights in the supply chain amidst the highlights on ESG in this dynamic and challenging business world for companies to achieve sustainable development goals. © 2023 Informa UK Limited, trading as Taylor & Francis Group.article.listelement.badge How does stakeholder engagement through environmental, social, and governance affect eco-efficiency and profitability efficiency? Zooming into Apple Inc.'s counterparts(John Wiley and Sons Ltd, 2023-01) Lu, Wen-Min; Kweh, Qian Long; Ting, Irene Wei Kiong; Ren, ChunyaAs global ecological degradation intensifies, a trade-off has arisen between environmental protection and production efficiency to achieve sustainable development for the environment, society, and the company itself. However, the potential reverse causality relationship between environmental, social, and governance (ESG) and corporate efficiency may lead to confusion. This study estimates the eco-efficiency of Apple Incorporated's value-chain counterparts in the first stage and creates values and profitability in the second stage of efficiency evaluation. Results obtained from the (i) directional distance function in the two-stage data envelopment analysis (DEA), (ii) additive efficiency decomposition two-stage network DEA model, and (iii) network slacks-based measure model are consistent. That is, Apple counterparts manage more efficient eco-efficiency than profitability efficiency, implying that eco-efficiency is their competitive advantage. We thus also run a regression analysis to examine how the ESG ratings of Apple counterparts explain their eco-efficiency and profitability efficiency. Although the overall ESG rating positively explains the efficiencies, we found that the individual governance rating shows no statistically significant effect. The regression results provide insight for practitioners on the importance of investing in the three aspects of a firm's collective conscientiousness for societal and environmental governance. This paper integrates companies' eco-efficiency and profitability efficiency to resolve the conflict between environmental issues and production efficiency. It also analyzes in depth the effects of ESG and its three individual factors on eco-, profitability, and average efficiencies. The diversity of research methods also provides new ideas for future research related to firm efficiency. © 2022 ERP Environment and John Wiley & Sons Ltd.Item Innovation and Firm Performance: The Moderating Role of Intellectual Capital among Chinese Companies(Penerbit Universiti Sains Malaysia, 2023-06-22) Ren, Chunya; Ting, Irene Wei Kiong; Kweh, Qian Long; Zhang, ChengThis study examines the impact of innovation on firm performance and how intellectual capital (IC) moderates the association between innovation and firm performance. We apply an innovation index that measures the frequency of innovative related words, which appear in firm financial reports to proxy for innovation. IC is estimated through the value-added IC (VAIC™) model. This study analyses Chinese firm-year observations of financial profitability (firm value) datasets, which total 19,152 (18,276) over the years from 2007 to 2019. Results indicate that the innovation index is positively related to financial profitability and firm market value. Moreover, the moderating outcomes suggest that IC boosts the positive relationship between innovation index and firm performance. Overall, this study highlights the importance of having innovation and IC together for gaining firm competitive advantages and progressing profitably. That is, firms should be innovative and must manage their IC well. © Asian Academy of Management and Penerbit Universiti Sains Malaysia, 2023.Item Interpreting the dynamic performance effect of intellectual capital through a value-added-based perspective(Emerald Group Publishing Ltd., 2020-03) Ting, Irene Wei Kiong; Ren, Chunya; Chen, Fu-Chiang; Kweh, Qian LongPurpose: The question of whether intellectual capital (IC) is beneficial to firm performance is debatable because of the diverse effects of IC and its components on firm performance. Building on the concept of pay–performance relation, this study aims to provide new insights into how changes in IC affect changes in firm performance. Design/methodology/approach: Data envelopment analysis is employed to measure firm performance, and value-added intellectual coefficient (VAIC™) is selected to evaluate the IC and its components, namely human capital efficiency (HCE), structural capital efficiency (SCE), and capital employed efficiency (CEE). Ordinary least squares regression is applied to study the relationship between changes in IC and changes in firm performance using 6,408 firm-year observations of electronics companies listed in Taiwan from 2006 to 2017. Findings: Empirical results suggest that IC efficiency and CEE significantly and negatively affect firm performance, thereby suggesting a contradictory common sense with the resource-based view on the beneficial effects of IC. However, changes in IC efficiency and HCE are significantly and positively related to changes in firm performance, including changes in firm efficiency and sales growth. Practical implications: This study suggests that managers should continuously pay attention to adjusting their IC, especially human capital (HC) for better decisions that help grow firm performance. Moreover, investors can grasp how sensitive firm performance is to IC. Originality/value: This study argues the relationship between IC and firm performance in the same vein as a pay-for-performance link, suggesting that future studies should account for increases or decreases in IC. © 2020, Emerald Publishing Limited.Item Nonlinear effects of ESG on energy-adjusted firm efficiency: Evidence from the stakeholder engagement of apple incorporated(John Wiley and Sons Ltd, 2022-09) Ren, Chunya; Ting, Irene Wei Kiong; Lu, Wen-Min; Kweh, Qian LongItem Value-added intellectual capital and productive efficiencies: evidence from Taiwan listed electronics companies(Emerald Group Holdings Ltd., 2023-14-11) Ting, Irene Wei Kiong; Lu, Wen-Min; Kweh, Qian Long; Ren, ChunyaPurpose: This study examines the effect of value-added (VA) intellectual capital on business performance from the perspective of productive efficiency, which is derived from its main contributors, namely, profitability and marketability efficiencies in two stages. Design/methodology/approach: First, this study applies a dynamic network slacks-based measure in a data envelopment analysis (DEA) approach to estimate productive efficiency and its components of 766 Taiwan listed electronics companies over the period of 2010–2018. Second, this study performs regression analyses of the association between intellectual capital (IC), which is proxied by VA intellectual coefficient (VAICTM) and estimated DEA efficiency scores through various regression techniques. Findings: Empirical evidence shows a significantly positive association between VAICTM and productive efficiency. This study finds the same result from the IC components after splitting VAICTM into (1) IC efficiency, which comprises human capital efficiency (HCE) and structural capital efficiency and (2) capital employed efficiency. Further examination reveals that HCE is the sole main contributor of the productive efficiency, and profitability and marketability efficiencies of a company. Practical implications: The findings of this study highlight the need to discuss the values of intellectual coefficient (IC) from the perspective of productive efficiency for better comprehensiveness. Originality/value: Although previous studies have shown that IC is a contributor of business performance, this study further zooms in VAIC and examines its effect on the efficiency of a company in transforming its inputs into outputs. © 2021, Emerald Publishing Limited.Item A value-added view of intellectual capital and financial performance in knowledge management: a case of Chinese insurance companies(Inderscience Publishers, 2021) Ren, Chunya; Ting, Irene Wei Kiong; Kweh, Qian LongIntellectual capital (IC) has a strong linkage to knowledge management thus influencing financial performance. Using resource-based view theory, this paper aims to explore the relationships between intellectual capital and financial performance based on the data of 220 Chinese insurance companies listed in China Insurance Yearbook, from 2008 to 2017. Our study is robust for using Value-Added Intellectual Coefficient (VAICTM) and ratios as the proxies of IC, as well as return on assets and return on equities as the proxies of financial performance. Panel data regression and ordinary least squares are applied to analyse the data. Apart from the popular direct effect, we also find significant positive (negative) effects of increasing (decreasing) IC on increasing (decreasing) financial performance. However, we find no dynamic relationship between IC and financial performance. This paper provides scholars and practitioners with new perspectives on IC learning and management. Copyright © 2021 Inderscience Enterprises Ltd.