Corporate social responsibility performance, R&D investment and financial performance-Based on the data of listed companies in China

Abstract

Abstract: Under the "new normal" economy, the corporate social responsibility has become one of the important factors in the competition. However, it is a problem that whether the corporate social responsibility can effectively promote the improvement of financial performance and the realization of enterprise value. This article selects listed companies in our country and the years from 2010 to 2015, a total of 3181 data sample. This paper studies the relationship between corporate social responsibility performance, R&D investment and financial performance under different mechanisms. The results show that:(1) The relationship between corporate social responsibility and financial performance is positively related;(2) Different mechanisms do not change the positive correlation between corporate social responsibility and financial performance;(3) The investment in technological innovation enhances the positive impact of corporate social responsibility on corporate financial performance. However, this result is mainly based on R&D investment and the implementation of the strategic social responsibility to maintain a consistent positive effect on Corporate Performance. However, R&D investment has no significant effect on altruistic social responsibility and financial performance.

Key words: corporate social responsibility, strategic social responsibility, altruistic social responsibility, R&D investment, financial performance

CLC Number:

F272

CUI Ye-guang, LI Bo. Corporate social responsibility performance, R&D investment and financial performance-Based on the data of listed companies in China[J]. , 2018(02): 60-69.

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