The Impact Of GEM Corporate Social Responsibility On Innovation Performance

GEM is the high-tech enterprises gathering support of our country,shouldering the heavy responsibility to nurture and develop high innovation capacity,high-growth,technology originality and other characteristics companies.With the complexity of innovation,rapidness of technical upgrading and diversification of market demand,the GEM listing companies are facing more and more challenges,so how to Jimprove the innovation performance and stay productive innovation efficiency of GEM listed companies become the focus of research scholars.However,a series of social responsibility events happened in recent years,the relevant enterprises had formed a serious impact.Those companies who ignore the social responsibility will be damaged or bankruptcy,therefore sustainable development of enterprises is inseparable from an active social responsibility.With the continuous development of the GEM listed companies,their social responsibility will become more important.Fulfill corporate social responsibility can not only recognized by the public,but also obtain the appropriate resources from the various stakeholders.And these resources are indispensable for enterprises enhance innovation performance.Therefore,companies access to resources and enhance innovation performance are need to fulfill the social responsibility.Based on the above analysis,we study the impact of GEM corporate social responsibility on innovation performance.Encouraging enterprises to actively fulfill their social responsibility,and also provide a new way of thinking of GEM listed companies to enhance innovation capability.Firstly,this paper reviews the documentation of corporate social responsibility,innovation performance and their relationship;secondly,from theoretical analysis the GEM listing corporate social responsibility perform on innovation performance.Based on stakeholder theory,corporate social responsibility is divided into three layers:currency layer,manpower layer and social layer,and construct the conceptual model and propose hypotheses;Finally,design the variables in the model,the dependent variable indicators are innovation technology performance and innovation financial performance,the independent variable indicators are various stakeholders social responsibility,the control variables are firm size,R&D investment and business areas,then conduct panel data regression analysis and putting forward the corresponding management suggestions combined the empirical analysis results.Conclusions of this research showed that:(1)GEM listed companies to fulfill their social responsibility positive impact on imovative technology performance and innovation financial performance,which most scholars conclusion is the same,and also the same with this paper assumptions;(2)on currency layer of social responsibility,GEM listed companies to fulfill their social responsibility to shareholders positive impact on innovative technology performance and innovation financial performance,to fulfill their social responsibility to creditors positive impact on innovation technology performance but not significantly and negative impact on innovation financial performance;(3)on manpower layer of social responsibility,GEM listed companies to fulfill their social responsibility to employees positive impact on innovation technology performance but negative impact on innovation financial performance;(4)on social layer of social responsibility,GEM listed companies to fulfill their social responsibility to customers negative impact on innovation technology performance but positive impact on innovation financial performance,to fulfill to the governments positive impact on innovation technology performance but not significantly and negative impact on innovation financial performance,to fulfill their social responsibility to suppliers negative impact on innovation technology performance but positive impact on innovation financial performance.