Research On The Impact Of Corporate Social Responsibility On Green Innovation

Enterprises taking on necessary social responsibility is an opportunity to achieve mutual benefit and win-win situation between enterprises and society,and green innovation is a key way for enterprises to implement the national "dual carbon" strategy,green development,and sustainable development concept.Therefore,clarifying the relationship between the two helps to better grasp their internal mechanisms of action.However,there is controversy in the academic community regarding the impact of corporate social responsibility on green innovation.To further clarify the relationship between the two,this article uses viewpoints such as stakeholder theory and information asymmetry theory as theoretical support.747 A-share manufacturing listed companies in China from 2015 to 2020 were selected as research samples,and the social responsibility performance of listed companies was measured using the corporate social responsibility score published by Hexun.The number of green patent applications was used to measure green innovation,Explore the impact and mechanism of corporate social responsibility on green innovation.Firstly,the linear impact of corporate social responsibility on green innovation was analyzed;Secondly,using financing constraints as the mediating variable,the mediating mechanism of corporate social responsibility affecting green innovation was explored;Once again,this article uses a panel threshold regression model to explore the nonlinear relationship between corporate social responsibility and green innovation,and determines the relationship between the two within different threshold ranges;Finally,this article conducted a series of exploratory studies,including the economic consequences analysis of the green innovation effect of corporate social responsibility,as well as the heterogeneity analysis considering the nature of property rights and industry categories.Research has found that whether using a company’s social responsibility score from the current year or a lagging social responsibility score to measure social responsibility performance,corporate social responsibility contributes to promoting green innovation;Financing constraints have a partial mediating effect on the relationship between corporate social responsibility and green innovation,manifested as the ability of enterprises to undertake social responsibility and promote their own green innovation by alleviating financing constraints;The impact of corporate social responsibility on green innovation generally presents a "inverted N-shaped" dual threshold effect.The promoting effect of corporate social responsibility on green innovation occurs in the range of [0.894,3.099].If the level of corporate social responsibility exceeds this range,it will have a inhibitory effect on green innovation,which is generally manifested as a dynamic evolution of "inhibition promotion inhibition";Extensive research has found that corporate social responsibility can improve financial performance by promoting green innovation;Heterogeneity analysis found that in private enterprises and non heavily polluting enterprises,corporate social responsibility plays a more significant role in promoting green innovation.The research conclusions of this article also have certain enlightening effects: from the perspective of enterprises,the above research conclusions suggest that enterprises should change their inherent views,actively assume social responsibility,and integrate the idea of "green waters and green mountains are golden mountains and silver mountains" into their business philosophy.In addition,private enterprises and heavily polluting enterprises should actively build stakeholder networks,reduce information asymmetry,accumulate explicit and implicit resources,alleviate financing constraints,and provide driving force for enterprises to carry out green innovation.It is worth noting that enterprises should also allocate investment in social responsibility in a reasonable manner,avoiding damage to corporate reputation due to a lack of social responsibility,and also avoiding problems such as excessive investment in corporate social responsibility leading to R&D funds being squeezed out.From the perspective of the government,the research conclusions of this article have certain guiding significance for the government to take measures to help enterprises strengthen their sense of social responsibility.