How to Improve the Corporate Sustainable Development?—The Importance of the Intellectual Capital and the Role of the Investor Confidence

In the era of intelligent economy, to achieve business development, companies have shifted from focusing on physical resources intangible and increasingly rely investment in assets. This phenomenon is a consensus. Intellectual capital skill that difficult for competitors replicate most significant asset modern firms. Research intellectual mainly focuses impact companies’ performance; however, this study sustainable development effects companies. Taking manufacturing Chinese A-share listings 2015 2020 as sample space adding innovation based traditional model, two-way fixed-effects model was used conduct empirical research relationship between corporate development. Meanwhile, conducted test whether investor confidence innovatively played an intermediary role. showed positively correlated with confidence. general, bridge connected The results provided basis can enhance their capabilities through investment. Managers should focus activities positive capital, increase high-quality,