Research And Development Innovation,Corporation Social Responsibility And Corporate Value

With the rapid development of China's enterprises,after enterprise managers solving many of the company's internal management and governance issues,and gradually began to pay attention to the enterprise should bear the corporate social responsibility."Corporate Social Responsibility Blue Book(2016)" pointed out that the Chinese enterprises behave of the Top 300 social responsibility development index is 35.1.In 2009,China's top 300 social responsibility development index is 15.2 points,the overall stage is still in the spectator role.In 2012,the corporate social responsibility development index reached 23.1 points,the whole moved from the spectator stage into the start stage.In 2016,China's top 300 corporate social responsibility development index reached 35.1 points,increase by only 0.5 points in 2015,the overall is still in the initial stage.Over the past eight years,with the government,the media,the association and the enterprises themselves on the social responsibility of continuous attention,corporate social responsibility in our country continue to develop in depth,continuous improvement.In 2016,facing the external environment changes and the degree of emphasis on their own enterprises,China's corporate social responsibility development index continued to grow,but the growth rate showed a further downward trend.Since the reformation and opening up,relying on the expansion of fixed asset investment,expanding the scale of business and other economic growth has led the traditional model into a bottleneck effect,which turned out to be the lack of consumer purchasing power,inventory and overcapacity and a series of joint problems.China's well-known "Made in China" needs to change to "Invented in China" and "Intelligent manufacturing in China" to respond positively to the innovation-driven strategy which encourages public entrepreneurship and the development of innovation.To realize the sustained and steady growth of China's economy,this strategy gives us a bright direction and road.And the direction of all corporate behavior will eventually be settled at the value of the company,in the internal external resources availability and limited constraints,the efficiency of the company management to do business-related strategic decision-making basis.Research on the theoretical factors of the value of the company's research has been very extensive and in-depth,for the R&D investment and the relationship between the intrinsic value of the relevant research has also been a lot of scholars have carried out a more complete combing and exploration,this paper attempts to verify the way to influence the relationship between the two variables of innovation patent,and combine the relevant literature research to dig out mediating effect of corporate social responsibility and clarify the mechanism and path of action.This paper is divided into six parts:introduction,literature review,theoretical basis,research hypothesis and model construction,empirical test and result analysis and research conclusion.Using normative research and empirical research combined with accounting research methods.Through the normative research methods,a large number of collection and research at home and abroad well-known authoritative journals,newspapers,conference minutes and master's degree thesis,all in-depth grasp of R&D innovation,corporate social value and the relationship between the value of the relevant mechanism,Introduce the hypothesis of our own research.And then through the empirical research method of follow-up convergence,the use of econometrics and statistical knowledge to study the hypothesis of the actual study to 2011-2015 growth enterprises and medium and small-sized listed company.Finally,after the empirical study,the experimental results obtained in this paper are as follows:Corporate social responsibility is further concerned and attention,the overall commitment to the level of social responsibility gradually improved.In the stage of R&D innovation input-output,corporate social responsibility has enhanced the positive correlation between R&D investment and innovation output.R&D output value to achieve the stage,there is still a certain extent to promote obstacles.This paper will put forward four levels of suggestions according to the present situation and the conclusion of our research.First,we should implement the legal system of corporate social responsibility as soon as possible and build the appropriate institutional environment.Second,enterprises to strengthen their awareness of social responsibility and strengthen,establish a good corporate image and reputation.Third,clear the responsibility for social responsibility supervision departments,in strict accordance with the provisions of reward and punishment clear.Fourth,build a corporate social responsibility evaluation system by joint effort.The innovation that exists in this paper lies in the fact that the existing literature focuses on the relationship between R&D innovation,corporate society and corporate value,but there is not much literature to study the relationship between them.In this paper,we try to construct a two-stage structural model of R&D to explore the basic research hypothesis of R&D innovation and corporate value,which is based on corporate social responsibility as a factor of adjustment,enriching the research on corporate social responsibility.In this paper,a more reasonable proxy index is set for the variables and quantified,and the more explanatory variables and control variables are quoted.The final experimental results are more scientific and credible.The limitations and shortcomings pointed out by the text are provided for the future research.