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1. Introduction
In the last three decades, intellectual capital (IC) has become a crucial component of business entrepreneurship research. Thus, several business scholars have argued that, for a firm to be entrepreneurially oriented, it should be innovative, proactive behaviors and risk-taking (Hanifah et al., 2022; Ali et al., 2021; Vafaei-Zadeh et al., 2019). The concept of IC has become increasingly important in the entrepreneurial orientation (EO) research due to the growing recognition of the role that IC components play in the development and success of entrepreneurial ventures (Kreiser and Davis, 2010; Ferreira and Franco, 2020; Wong et al., 2005). IC components such as human capital (HC), relational capital (RC) and structural capital (SC) play an important role in shaping EO, as well as in driving innovation, performance and competitiveness (Al-Jinini et al., 2019; Basco et al., 2020; Khan et al., 2019; Hanifah et al., 2022).
However, the relationship between IC components and EO is complex and multifaceted and may vary depending on a number of factors such as industry and stage of development (Marinelli et al., 2022). Studies confirm that IC and EO both significantly contribute to improving organizational performance and fostering long-term growth (Cabrilo and Dahms, 2020; Paoloni et al., 2020). While IC serves as the foundation for finding and capitalizing on new opportunities, developing new products and adapting to quickly changing market conditions (Lentjušenkova and Lapiņa, 2020), EO supports IC exploitation by promoting proactiveness and risk-taking attitudes that promote innovation and organizational renewal (Marinelli et al., 2022; Chaudhary et al., 2023). This intricate interaction between IC and EO has prompted recent studies (e.g. Hanifah et al., 2022; Chaudhary et al., 2023; Grande et al., 2023) to call for further research to acquire a better understanding of the relationship between these dynamic capabilities. According to Basco et al. (2020), while the connection between the components of IC and EO is a significant and continuously developing area of research, few studies have produced conclusive findings about this aspect, and further research is needed.
Scholars confirm that the direct association between IC and EO may not fully capture the underlying mechanisms by which these dynamic capabilities interact (Anwar et al