Paper Title
Discussion On The Correlation Between Intellectual Capital, Corporate Social Responsibility And Corporate Performance During Growth And Recession - By Quantile Regression Analysis

Abstract
The change from tradition to modernity, from physical assets to intangible assets and knowledge, from the importance of the company itself to the concept of economic prosperity, social welfare and environmental sustainability, intellectual capital and corporate social responsibility are not only related to each other, but also have an impact on corporate performance. This study uses quantile regression, adds the growth and recession periods of the economy, to investigate the correlation between intellectual capital, corporate social responsibility and different quantiles of corporate performance. This study further divides the sample into electronics and traditional industries to investigate the sample of different industries. The results shows that not only in the whole sample but also in electronics and traditional industries, during growth and recession, intellectual capital and corporate social responsibility and other control variables have a different impact on the different quantiles of corporate performance. Keywords - Intellectual Capital, Corporate Social Responsibility, Corporate Performance, Tobin’s Q, Quantile Regression