Zhang, Y; Li, H and Yao, Z (2025) Intellectual capital, digital transformation and firm performance: Evidence based on listed companies in the Chinese construction industry. Engineering, Construction and Architectural Management, 32(4), pp. 2128-2159. ISSN 0969-9988
Abstract
Purpose: The study aims to investigate the effects of intellectual capital and its constituents on the performance of listed companies operating in China's construction sector. The study also intends to examine the moderating role of digital transformation. Design/methodology/approach: Hypotheses will be tested using Modified Value-Added Intellectual Capital (MVAIC). The sample will be comprised of 93 Shenzhen and Shanghai A-share listed companies within the construction industry from the period of 2015–2021. Multiple regression analysis was employed to investigate the influence of intellectual capital, its components and digital transformation on the performance of construction firms. Findings: The study's results reveal that the performance of construction firms greatly depends on intellectual capital and its components. Furthermore, digital transformation plays a vital moderating role between intellectual capital and its components and construction firm performance. Practical implications: This study addresses a critical inquiry on how construction managers can employ intellectual capital to enhance the performance of firms during digital transformation. Additionally, this research bridges this gap by guiding construction managers to concentrate on their external surroundings when examining firm performance. Originality/value: By focusing on the predictors influencing construction firms' performance, this study contributes to the existing corpus of knowledge. This study employs resource orchestration theory (ROT) to determine how the different components of intellectual capital impact the performance of construction firms, with digital transformation acting as a moderating variable. This research will be valuable to researchers, construction industry professionals and policymakers.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | approach; construction; information and communication technology (ICT) applications |
| Index terms: | multiple regression analysis, construction sector, China, evidence, construction manager, methodology, construction firm, Shanghai, information and communication technology, construction industry, transformation, firm performance |
| Subjects: | Geography, business analysis, research methods, organization, evaluation and assessment methods, statistical analysis, industry analysis, computing systems, business, profession |
| Topics: | Geographical Context, Roles and Professions, Business Strategy, Research Practice, Digital Applications |
| Descriptive scope: | 4 PCTA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here