The Influence Of Social Responsibility Fulfillment On Green Technology Innovation Of Enterprises From The Perspective Of Financing Constraint

In recent years,China’s economic development is facing increasingly prominent problems of resources and environment.It is urgent to improve the high-quality development of the economy.The importance of ecological environment protection and green development in the economic development of enterprises is getting higher and higher.Enterprise development is an important part of the development of market economy,enterprises should not only focus on the speed of development,but also pay attention to the environmental problems in the development of enterprises to promote high-quality development.As an important hub for the coordination between economic development and environmental performance,green technology innovation has also become one of the important ways for enterprises to build a green development system and realize sustainable development.However,in terms of the development of most manufacturing enterprises in our country,the traditional development model at the expense of the environment still exists,and the problems of lack of green development awareness and low innovation enthusiasm of enterprises are always accompanied,which is very unfavorable to the overall economic development of our country.Therefore,activating the new momentum of the development of manufacturing enterprises and enhancing the innovation enthusiasm of enterprises are the top priorities of contemporary economic development.Social responsibility,as a whole which contains five dimensions of society,economy,environment,stakeholders and initiative,plays an important role in the green technological innovation activities of enterprises,and is also an important means for enterprises to achieve green sustainable development,social and economic development and environmental performance coordination.Then,in order to meet the demand of high-quality and sustainable economic development,whether an enterprise can fulfill its social responsibility to promote the level of green technological innovation of the enterprise,and if so,what ways social responsibility promotes the green technological innovation of the enterprise,which is also the content of this paper to be studied.On the basis of combing the relevant literature,this paper defines the related concepts of social responsibility and green technological innovation,combines the stakeholder theory,information non-countermeasure theory,principal-agent theory,reputation theory and sustainable development theory,and selects the data of A-share manufacturing enterprises in Shanghai and Shenzhen from 2011 to 2021 as the research object by using the methods of literature analysis,empirical analysis and intermediary effect research.This paper analyzes the impact of manufacturing enterprises’ social responsibility on their green technological innovation,analyzes the path of the impact of financing constraints as an intermediate variable,and analyzes the impact of social responsibility on green technological innovation in different nature and different scale enterprises through different groupings.The research results show that:(1)manufacturing enterprises can actively fulfill social responsibility to promote the level of green technological innovation,and in terms of enterprise nature,This kind of promotion exists in both state-owned enterprises and non-state-owned enterprises,but it is more influential in non-state-owned enterprises.As far as the enterprise scale is concerned,this promotion only exists in large-scale enterprises,but not in small-scale enterprises.(2)In the process of corporate social responsibility to promote the level of green technology innovation,financing constraints play a partial intermediary role,that is,corporate social responsibility is to promote the level of green technology innovation by alleviating the financing constraints faced by enterprises.In this paper,the introduction of social responsibility in the process of discussing the green technological innovation of enterprises,based on social responsibility,is conducive to stimulating the enthusiasm of enterprises to actively perform social responsibility in green technological innovation,promoting the green and sustainable development of enterprises,and has certain reference value for realizing the high-quality development of enterprises and China economy.