Abstract
Purpose – Corporate social responsibility (CSR) has become one of the mainstream issues for
sustainable corporate performance in recent decades. Engagement in CSR activities has proven to
have certain benefits for companies, ranging from better financial performance to shareholder wealth
maximisation. Companies’ value creation process has been dominated by companies’ hidden assets
and concurrently the concept of value added intellectual capital (VAIC). The purpose of this study is to
provide evidence from an emerging market about the interaction between CSR and VAIC, and thus
contribute to the understanding and awareness of the significance of socially responsible investments
for companies.