The Effect of Corporate Social Responsibility on the Technology Innovation of High-Growth Business Organizations

Jun Huang, Peijun Xie, Yating Zeng and Yun Li
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Jun Huang: Business School, Hunan University, Changsha 410082, China
Peijun Xie: Business School, Hunan University, Changsha 410082, China
Yating Zeng: Business School, Hunan University, Changsha 410082, China
Yun Li: Business School, Hunan University, Changsha 410082, China

Sustainability, 2021, vol. 13, issue 13, 1-17

Abstract: The implementation of innovation-driven strategy requires business organizations to actively conduct technological innovation activities. Corporate social responsibility (CSR) performance is an important factor to promote technological innovation, and venture capital (VC) as a matching capital with technological innovation also affects technological innovation. Using Chinese listed companies on the Growth Enterprise Market (GEM) during the 2014–2018 period as a sample, we study the role of corporate social responsibility performance in technological innovation and the impact of venture capital on the relationship between the two. We find that social responsibility performance can effectively promote innovation, which is promoted significantly by the shareholder responsibility and employee responsibility dimensions of social responsibility. We also find that venture capital inhibits the promotion of social responsibility to technological innovation. This work will guide VC institutions to pay more attention to business organizations social innovation projects.

Keywords: growth enterprise; CSR; technological innovation; VC (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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