期刊
MANAGERIAL AND DECISION ECONOMICS
卷 43, 期 2, 页码 339-355出版社
JOHN WILEY & SONS LTD
DOI: 10.1002/mde.3386
关键词
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资金
- China Postdoctoral Science Foundation
This paper examines how CSR disclosure impacts innovation in Chinese firms. It finds that increased CSR disclosure leads to more R&D investments and patents. Firms with high CSR disclosure nurture innovation by engaging less in short-termism activities. Additionally, CSR disclosure promotes optimal allocation of R&D expenditure and innovation through information and human capital channels.
This paper examines how corporate social responsibility (CSR) disclosure impacts innovation using a sample of Chinese firms. We find that an increase in CSR disclosure leads firms to invest more in R&D investments and generate more patents. Additionally, our findings reveal that firms with high CSR disclosure nurture innovation by engaging less in short-termism activities that crowd resources for innovation. Furthermore, we uncover that CSR disclosure promotes the optimum allocation of R&D expenditure by allocating risky capital towards good investment opportunities and away from poor investment opportunity sets. In addition, we show that CSR disclosure promotes innovation through information and human capital channels.
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