Corporate social responsibility and knowledge capital: does corporate social responsibility promote accumulating knowledge capital?

Shih-Wei Hung ()
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Shih-Wei Hung: National Kaohsiung University of Science and Technology

Review of Quantitative Finance and Accounting, 2025, vol. 64, issue 3, No 13, 1452 pages

Abstract: Abstract This study investigated the effects of corporate social responsibility (CSR) on the accumulation of knowledge capital, investment in research and development (R&D), and financial performance. The empirical results revealed that CSR engagement can enhance the accumulation of knowledge capital and R&D investment. Nonetheless, engaging in external CSR, disclosing CSR-related information, and having third-parties authenticate CSR reports is important to avoid agency problems and greenwashing. It is also important that firms establish internal CSR-related policies and measures governing environmental protection and employee and supplier rights to ensure innovative development, the accumulation of knowledge capital, and R&D investment. The resources invested in knowledge capital, R&D, or CSR promotion can negatively impact profitability; however, these effects were shown not to dampen investors’ optimism about future competitive advantage or financial performance.

Keywords: Corporate social responsibility; Knowledge capital; Research and development; Financial performance (search for similar items in EconPapers)
JEL-codes: G34 G39 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s11156-024-01336-7

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