Role of Firm and Corporate Governance Attributes in The Relationship Between Intellectual Capital Disclosure and Firm Value

Abstract

This study examines the moderating role of firm-specific and corporate governance attributes in the relationship between intellectual capital disclosure (ICD) and firm value. A content analysis approach is employed to measure ICD, and moderated regression analysis is used to test the proposed relationships. The findings indicate that both corporate governance and firm attributes significantly influence the relationship between ICD and firm value. From a theoretical perspective, the study contributes to understanding how governance mechanisms and firm characteristics shape the effectiveness of ICD. Practically, the findings provide insights for managers and investors regarding the importance of disclosure practices in enhancing firm value. The study is limited to annual reports as the primary source of ICD measurement, excluding other communication channels. Future research may consider additional disclosure platforms. To the best of our knowledge, this study is among the first to empirically examine the moderating role of both corporate governance and firm attributes in the ICD– firm value relationship