A Study On The Relationship Between Corporate Social Responsibility, R & D Investment And Financial Performance From The Perspective Of Multi Dimensions

Nowadays,with the development of social economy and the satisfaction of material life,people begin to pay more attention to a series of social problems caused by economic development.In modern society,stakeholders of enterprises are not satisfied with the traditional social responsibility of enterprises,and pay more attention to the social innovation of enterprises.Social innovation is the combination of corporate social responsibility and R & D investment,to improve the performance and value of enterprises.In the process of the development of enterprises,on the one hand,should pay attention to fulfill the social responsibility of the enterprise,to improve the social reputation,won the trust of stakeholders,on the other hand,the enterprise should innovate constantly research and development activities to obtain products and services,to increase the market competitiveness of enterprises.More and more practice has shown that corporate social responsibility is closely related to R & D investment,so it is important for enterprises to coordinate the strategic relationship between social responsibility and R & D investment.However,not all social responsibility activities can improve the financial performance of enterprises,so the choice of corporate social responsibility dimension is also crucial.In addition,the impact of corporate R & D investment and corporate social responsibility on corporate financial performance is often lagging behind time,and it is necessary to make a long-term and short-term division of financial performance.Therefore,this paper divides corporate social responsibility into four dimensions of responsibility management,market responsibility,social responsibility,environmental responsibility according to one of the four theory,financial performance is divided into two dimensions of long-term performance and short-term performance,explore these dimensions in the effect of R & D investment and the existing.In this context,the research idea of this paper is followed by theoretical analysis and empirical analysis,and then the research conclusions and policy recommendations are carried out.First of all,this article introduces the research background,research ideas,research methods and innovation of this article,.Then in the study of domestic and foreign literature,the interests of enterprises based on resource based theory,stakeholder theory,three line theory and four in one theory,analysis of the influence ofcorporate social responsibility performance,R & D investment of enterprise long-term financial performance,and fulfill corporate social responsibility,joint R & D investment impact on financial performance,and empirical research,finally draws the conclusion,and puts forward the policy suggestion.This article selects the 2014-2016 "China corporate social responsibility report" issued by the China 300 companies as the research sample,to study the effects of long-term and short-term financial performance in various dimensions of corporate social responsibility,research.Finally,the empirical study found that: first,R & D investment has a positive impact on the long-term financial performance;second,the four dimensions of corporate social responsibility,the social responsibility in the dimensions to have positive effect on long-term financial performance and corporate social responsibility activities,all dimensions of short-term financial performance are not there is a significant correlation;third,corporate social responsibility,R & D investment will weaken each other to promote enterprise long-term financial performance.That is,the dimensionality of social responsibility will weaken the impact of R & D investment on financial performance,and R & D investment will also weaken the impact of social responsibility on long-term financial performance.Finally,based on the research conclusions,this paper puts forward some policy suggestions:(1)increase government support.As the government regulation of national macro economy,should be to improve the investment environment of corporate R & D activities reasonably,and from the aspect of policy guidance and encourage risk sharing that enterprises exist in R & D activities,support enterprise development activities,to bring long-term benefits for the enterprise,and guide enterprises to carry out reasonable development activities.(2)reasonable planning of corporate R & D investment strategy.For the projects with long development cycle,enterprises should increase the absorption and innovation of the imported technology,formulate reasonable and effective development strategy,and arrange the R & D projects of enterprises reasonably.(3)perfect the mode of resource allocation.For those enterprises with limited resources,they should optimize the allocation of resources reasonably and customize the enterprise development strategy.