Research On The Impact Of Corporate Social Responsibility And R&D Investment On Financial Performanc

In the context of high quality development,biopharmaceutical companies not only need to continue research and development,but must also actively assume their due social responsibility.With the vigorous promotion of green and intelligent manufacturing,the relationship between corporate social responsibility and technological innovation has become increasingly close.The development of enterprises should not only focus on economic benefits,but should also organically combine the innovative development of enterprises with the implementation of corporate social responsibility,so as to achieve sustainable and coordinated development of enterprises with many stakeholders,such as the government and the public.Based on this,this paper relies on stakeholder theory,signalling theory,reputational capital theory and technological innovation theory to analyse the impact of corporate social responsibility on financial performance of listed companies in the biotechnology industry from 2011 to 2021,and to investigate whether there is a positive moderating effect of R&D investment between the two.Firstly,a multiple regression model was used to verify that CSR has a direct positive effect on financial performance,then it was further tested that R&D investment enhances the positive effect of CSR on financial performance,and finally a robustness test was conducted by replacing the indicators.At the same time,this paper also selected Kangtai Bio as a case study,and analysed its CSR implementation,R&D investment status and evaluation of financial performance level,and concluded that the implementation of Kangtai Bio’s social responsibility can effectively promote the improvement of financial performance level.In the context of promoting corporate social responsibility,it is more beneficial for enterprises to take the initiative to undertake social responsibility and thus positively contribute to financial performance by continuously increasing R&D investment for technological innovation,improving production efficiency,reducing production costs,enhancing corporate reputation,attracting investors’ attention and expanding market scale and share.This paper helps to provide substantive evidence on the fulfillment of social responsibility by biopharmaceutical companies,while further broadening the scope of the study and providing some valuable reference on the implementation of social responsibility by similar companies in the same industry.