Corporate Social Responsibility,Financing Constraints and Enterprise Innovation
Corporate social responsibility is the fundamental driving force for high-quality development of enterprises,and technological innovation is the fundamental path for high-quality development of enterpri-ses.In order to explore the relationship between corporate social responsibility and corporate innovation,after combing literature,empirical research method is adopted to study the A share listed companies in Shanghai and Shenzhen from 2016 to 2020.The results show that enterprises'active fulfillment of social responsibility positively promotes enterprise innovation,and financing constraint is the intermediary path of the promotion mechanism.Enterprises can alleviate financing constraint and promote enterprise innova-tion through active fulfillment of social responsibility.Based on the heterogeneity of enterprise nature,it is found that the promotion effect is effective in both state-owned enterprises and non-state-owned enterpri-ses,and it is more obvious in non-state-owned enterprises.The conclusion of this study provides experi-ence and suggestions on how to improve the innovation ability of enterprises and governments from the as-pect of social responsibility.
corporate social responsibilityenterprise innovationfinancing constraints
万方数据
维普
