The Influence Of Corporate Social Responsibility On Corporate Innovation Performance

At present,China’s economy is in an important stage of transformation and upgrading,and enterprises are facing more and more fierce competition in the market,which is followed by a growing call for corporate innovation from the society.At the same time,the long-standing sloppy development method of unilateral pursuit of economic growth rate has also led to a series of social problems,and how to guide enterprises to fulfill their social responsibility has become a hot topic of concern for the whole society.The fulfillment of social responsibility by enterprises helps to establish good relationships with internal and external stakeholders and accumulate various social resources for enterprises,while enterprises need to consume a lot of resources to carry out innovation activities.Whether enterprises can promote their innovation performance through fulfilling social responsibility and through what mechanism they can influence their innovation performance are not yet conclusive in academic circles.The social capital of enterprises is a collection of resources held by enterprises in social networks,and it is controversial whether enterprises can obtain social capital to support innovation activities by fulfilling social responsibility.Therefore,this thesis focuses on the impact of social responsibility on innovation performance,and further explores the mechanism of its role.In order to address the above questions,this thesis firstly compares the relevant literature and theories on CSR and corporate innovation performance,and then constructs a theoretical model and an empirical model with CSR as the explanatory variable,corporate social capital as the mediating variable,corporate innovation performance as the explanatory variable and market competition intensity as the moderating variable,and then selects private A-share companies in Shanghai and Shenzhen from 2015 to 2020 as the research objects to construct a panel The panel data are constructed and the fixed-effects model is analyzed using multiple regressions for parameter estimation and empirical analysis.The empirical study finds that(1)CSR shows an inverted U-shaped influence on innovation performance;(2)in the process of inverted U-shaped influence of corporate social responsibility on innovation performance,corporate social capital plays a mediating role,and when corporate social capital is divided into different dimensions,market-based corporate social capital plays an obvious partial mediating role in the process,while institutional-based corporate social capital plays a less obvious mediating role in comparison.(3)the intensity of market competition as a moderating variable significantly and negatively moderates the inverted U-shaped effect of CSR on innovation performance,and the higher intensity of market competition makes the inverted U-shaped curve flatter.Finally,based on the findings of the empirical study and the development status of private enterprises in China,the thesis concludes with management implications: private enterprises in China should correctly understand the relationship between social responsibility and innovation performance and consider social responsibility as a long-term strategic investment and accumulate social capital for the enterprise through various channels.The shortcomings of this study are also summarized and future research is anticipated.