JRFM： 知识资本和组织资本对经济危机期间股票表现的影响：总裁综合能力的调节作用-英-27页.docx

Article

TheImpactofKnowledgeCapitalandOrganizationCapitalonStockPerformanceduringEconomicCrises:TheModeratingRoleofaGeneralistCEO

ChaehoChaseLee1,2,HohyunKim3andErdalAtukeren1,*

1BSLBusinessSchoolLausanne,RoutedelaMaladière21,1022Chavannes,Swi(erland;chae-ho.lee@bsl-lausanne.chorechair@stud.assist.ac.kr

2SeoulBusinessSchool,aSSISTUniversity,46,Ewhayeodae2-gil,Seodaemun-gu,Seoul03767,RepublicofKorea

3SchoolofManagementandEconomics,HandongGlobalUniversity,558,Handong-ro,Heunghae-eup,Buk-gu,Pohang-si37554,Gyeongsangbuk-do,RepublicofKorea;hkim@

*Correspondence:erdal.atukeren@bsl-lausanne.ch

Abstract:Thisstudyexaminestherelationshipbetweenintangiblecapital(IC)andstockperfor-manceduringthetworecentcrisisperiods,theGFCandCOVID-19.BycategorizingICintoKnowledgeCapital(KC)andOrganizationalCapital(OC),weanalyzetheimpactofeachcapitalonthecrisisreturninthemanufacturingsector.TheresultsshowthatagreaterKCandOCaresignif-icantlyassociatedwithhighercrisisreturnsduringbothperiods.Inaddition,we?ndevidencethatgeneralistCEOsstrengthenthisrelationshipwhilespecialistCEOsdonot.Within?rmsledbyageneralistCEO,theCEO’stenurepositivelymoderatestheassociationbetweeneachfactorofintan-giblecapitalandcrisisperiodreturns.ThisstudyemphasizesthepivotalroleofKCandOCasaprotectivebu?eragainstexternalshocks,particularlywhenthemarketpaysmoreaFentiontocor-poratesustainability.

Citation:ChaehoChaseLee,

HohyunKim,andErdalAtukeren.2024.TheImpactofKnowledge

CapitalandOrganizationCapitalonStockPerformanceduringEconomic

Crises:TheModeratingRoleof

aGeneralistCEO.JournalofRiskand

FinancialManagement17:192.

hFps:///10.3390/jrfAcademicEditor:M.VeyselKaya

Received:26March2024

Revised:30April2024

Accepted:4May2024

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