Extruding Or Enabling:The Effect Of Corporate Social Responsibility On Technical Innovation Inputs

Technological innovation is an important source for enterprises to gain competitive advantage and create value,at the same time,corporate social responsibility behavior is gaining more and more public attention.Enterprises should integrate the conception of performing the social responsibility into the enterprise competition strategy and transform the corporate social responsibility into a part of the competitive advantage,which helps improve technological innovation ability.In China,technology innovation level has not yet reached the same leading level with the same field.In the condition of giving priority to the pursuit of economic benefits,our country advocates enterprises to fulfill their social responsibility.Some enterprises are forced to disclose the social responsibility report.Therefore,the influence of the concept of social responsibility and the practice of the social responsibility on the technological innovation is uncertain.There may be two effects:"crowding-out effect and facilitating effect".Therefore,the paper studies the following aspects.In the enterprises,will CSR performance affect technical innovation?What are the differences under the different information disclosure regulations?How do the mechanism and the approach work?This paper based on the theoretic foundation of resource-based view,principal-agent theory,information disclosure perspective and social capital theory,this paper takes A-shares of manufacturing enterprises as the sample,and systematically explores the effect and the mechanism of CSR performance on R&D investment intensity.The results show that CSR performance has negative effect on the R&D intensity,which shows that CSR has obvious crowding-out effect rather than facilitating effect on technological innovation.And compared with the CSR-regulated enterprises,the enterprises that proactively disclose information have the more significant crowding-out effect.Furthermore,grouped by the intensity of external market competition,political connections and the degree of managerial ownership,this paper found that the allocation choice of competitive resources and the agent's behavior selection under conflicts are indeed the main roots of crowding-out effect.The rest of this paper is arranged as followed.The second part is the literature review;the third part is the theoretical analysis and hypothesis;the fourth part is the research design;the fifth part is the empirical test and results analysis;the sixth part is the mechanism analysis;the seventh part is the robustness test;the eighth part is the conclusions,recommendations and prospects.