Research On The Influence Of Corporate Social Responsibility On Corporate Technological Innovation

In recent years,China’s economy has developed rapidly,and the rapid development of enterprises has brought negative externalities to economic life.Some enterprises focus too much on maximizing short-term profits,which leads to the inflow of a large number of inferior products into the market,ecological environment destruction,falsification of false financial reports and other malicious incidents,which seriously damage the rights and interests of members of society.If enterprises can shoulder social responsibility and meet the reasonable needs of various interest groups,they can obtain resources from internal and external stakeholders.However,the implementation of CSR activities will inevitably consume limited resources of enterprises,so will the reallocation of resources affect the independent R&D and innovation activities of enterprises,and if so,how does the specific impact mechanism operate?To this end,this thesis uses data related to third-party CSR scores and the number of various types of patent applications of A-share listed companies in China during2010-2019 to analyze the impact of CSR on corporate technological innovation activities;secondly,given that more and more researchers have noticed that various social responsibility scores have an impact on many aspects of corporate governance,this thesis includes corporate financing constraints and employee Finally,this thesis discusses the relationship between CSR and financing constraints as a mediating variable and executive compensation incentives as a moderating variable.The main empirical findings of this thesis are:(1)the active fulfillment of corporate social responsibility is beneficial to the improvement of corporate technological innovation level;(2)the active fulfillment of corporate social responsibility can reduce the pressure of corporate financing constraints and employee turnover rate,thus indirectly promoting the improvement of innovation level;(3)executive compensation incentives positively moderate the positive impact of corporate social responsibility performance on innovation level;(4)further analysis shows that the phenomenon of active corporate social responsibility facilitates the improvement of corporate innovation level,which has a significant positive contribution in both state-owned and non-state-owned companies,as well as companies that voluntarily disclose their social responsibility reports.Moreover,enterprises actively fulfill their social responsibility to all kinds of stakeholders are conducive to the improvement of technological innovation.The innovations of this thesis are:(1)In exploring the relationship between CSR and technological innovation and the intrinsic influence mechanism,it differs from the previous focus on short-term development indicators such as financial indicators,while paying less attention to non-financial performance such as corporate innovation results and reputation.In this thesis,corporate innovation is included in the scope of the study,and the relationship between the two is studied more comprehensively from the perspective of non-financial performance.At the same time,an attempt is made to analyze the impact of CSR on corporate innovation from the perspectives of both monetary capital and human capital,which complements their intrinsic linkages.(2)this thesis includes executive compensation incentives as a moderating variable in the scope of the study,which enriches the theory in corporate governance.The theoretical significance of this thesis is that it improves the original theoretical model by building a theoretical framework and mechanism of the effect of CSR on technological innovation,and also complements the existing related literature;the practical significance is that it provides an empirical reference for enterprises to correctly treat the fulfillment of CSR,and also provides an empirical basis for the government to strengthen the supervision of CSR in practice.