: A main purpose of this study is to investigate the impact of intellectual capital and intellectual capital complementarity on a firm’s global initiatives. Sample was selected with a type of purposive sampling. The selection criteria were that companies had to locate in Taiwan, but competing globally. Altogether 324 firms took part in the study. Structural Equation Modelling technique was used in the data analysis. Based on the analyses results, some implications are provided. Firstly, the importance of intellectual capital is again highlighted. It is confirmed that intellectual capital does enhance a firm’s global initiatives. Secondly, some moderating effects of business environment are found between intellectual capital and global initiatives. Thirdly, the important role of intellectual capital complementarity is identified. It is found that intellectual capital complementarity has positive effect on global initiatives in both high dynamic and low dynamic contexts. As a result, the value of intellectual capital components can mostly be actualized only in terms of their dynamic interrelationships and conjoint interaction.