Role of intellectual capital and corporate governance toward state-owned enterprises performance: Moderating role of government intervention

State owned enterprises' performance have been a topic of discussion among researchers, especially in the context of emerging economies such as Pakistan. Numerous aspects that have a strong impact on state owned enterprises' financial performance and non-financial performance have been recognized. Describing all issues related to state owned enterprises' financial performance and non-financial performance with the assistance of a single theory is a challenge because several factors affect the performance of these state owned enterprises. Meanwhile, several theories exist in the literature that can explain and forecast the performance of state owned enterprises. Therefore, on the basis of resource base theory, agency theory, and resource dependency theory, this study aims to examine the role of intellectual capital and corporate governance on state owned enterprises' financial and non-financial performance in Pakistan with the moderating role of government intervention. Data were collected from the top management of state owned enterprises in Pakistan. Data were analysed through structural equation modelling using SmartPLS. Results show the significant impact of gender diversity on state owned enterprises' financial performance, while the independence of committee has a significant influence on state owned enterprises' non-financial performance. Further, the results demonstrated the moderating role of government interventions between the proposed innovation capability and state owned enterprises' non-financial performance. This thesis has made an important contribution both theoretically and practically. This study empirically tested the combined effect of corporate governance and intellectual capital on the financial and non-financial performance of state owned enterprises in Pakistan. In addition, this study analysed the moderating effect of government intervention, which had not been previously analysed. Moreover, the results of this study have practical implications for the Pakistani regulatory authorities in establishing and revising corporate governance practice standards that are tailored to Pakistan’s unique background. The future direction of this research can be developed by changing or adding variables and broadening its scope.