The influence of women in shaping profitability and corporate social responsibility within knowledge-based economies and societies

Our research explores the interconnections between board diversity, corporate governance, and intellectual capital (IC) management in knowledge-based economies. Utilising the frameworks of upper-echelon theory and the knowledge-based view of the firm, we apply a multi-dimensional Intellectual Capital Index (ICI) to examine how board diversity measured by gender ratio, educational background, and professional expertise affects IC management effectiveness. Analysing a longitudinal panel dataset from various sectors in knowledge-based economies, we employ advanced econometric models, including multiway panel data analysis, to ensure rigour. Our findings reveal that board diversity significantly enhances IC management, fostering innovation and sustainability. Independent directors, unlike in traditional economies, play a crucial role in shaping IC management policies in these contexts. Control variables such as board size, meeting frequency, and organisational learning culture are also instrumental. Our study contributes to the growing literature on intellectual capital and corporate governance, with significant implications for policy formulation. Specifically, promoting board diversity can be a key strategy for optimising intellectual capital in knowledge-based economies.