Journal
EMERGING MARKETS REVIEW
Volume 46, Issue -, Pages -Publisher
ELSEVIER
DOI: 10.1016/j.ememar.2020.100746
Keywords
Corporate social responsibility (CSR); Innovation; Patents citations; Emerging countries
Categories
Funding
- Telfer School of Management, CPA Canada Accounting and Governance Research Centre
- Social Sciences and Humanities Research Council of Canada
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The study finds that corporate social responsibility (CSR) performance has a positive impact on corporate innovation, particularly through its environmental and social dimensions. This impact is weaker in emerging countries, primarily driven by the environmental dimension of CSR, while civil-law countries show a more significant influence of CSR on innovation compared to common-law countries.
Whether corporate social responsibility (CSR) affects corporate innovation remains controversial in the literature. We re-examine this issue using a newly available comprehensive innovation database on 20 countries and find support for the view that CSR performance fosters innovation. This effect of CSR is reflected on corporate innovation through its environmental and social dimensions. We also show that the effect of CSR on corporate innovation is less pronounced in emerging countries, but this is driven only by the environmental dimension of CSR. Finally, in comparison to common-law countries, we report a more positive impact of CSR on innovation in civil-law countries.
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