Post-innovation CSR Performance and Firm Value

Dev Mishra ()

Journal of Business Ethics, 2017, vol. 140, issue 2, No 6, 285-306

Abstract: Abstract Analyzing a sample of 13,917 US firm–years from 1991 to 2006, we find that more innovative firms demonstrate high corporate social responsibility (CSR) performance subsequent to a successful innovation. These high-CSR innovative firms enjoy significantly higher valuation post-innovation. These findings imply that firms with demonstrated potential growth opportunities, as evident from the number of registered patents and their citations, benefit by strategically investing more in CSR activities; that is, CSR investment entails ‘doing well by [strategically] doing good.’

Keywords: Patents; Citations; Innovation; Corporate social responsibility; Tobin’s Q (search for similar items in EconPapers)
JEL-codes: D8 G1 G3 O3 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (65)

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DOI: 10.1007/s10551-015-2676-3

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