Figure 1
The diagram illustrates the conceptual framework linking circular intellectual capital (CIC) to circular disclosure capital (CDC). The CIC is divided into three antecedent dimensions: circular human capital (CHC), circular structural capital (CSC), and circular relational capital (CRC). These dimensions are represented as boxes connected by arrows to the CDC, indicating hypothesized associations labeled H1, H2, and H3. The sector is represented as an institutional boundary condition, influencing these relationships. A dashed arrow labeled H4 (exploratory) indicates an exploratory conceptual relationship. The CDC is depicted as the dependent variable, representing organizational disclosure capability. Solid arrows indicate the hypothesized associations H1–H3, while the dashed arrow represents the exploratory relationship hypothesized in H4.Conceptual framework: CIC dimensions and circular disclosure capital. Source: Authors’ own work