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The Effect of Corporate Social Responsibility on the Technology Innovation of High-Growth Business Organizations

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  • Jun Huang

    (Business School, Hunan University, Changsha 410082, China)

  • Peijun Xie

    (Business School, Hunan University, Changsha 410082, China)

  • Yating Zeng

    (Business School, Hunan University, Changsha 410082, China)

  • Yun Li

    (Business School, Hunan University, Changsha 410082, China)

Abstract

The implementation of innovation-driven strategy requires business organizations to actively conduct technological innovation activities. Corporate social responsibility (CSR) performance is an important factor to promote technological innovation, and venture capital (VC) as a matching capital with technological innovation also affects technological innovation. Using Chinese listed companies on the Growth Enterprise Market (GEM) during the 2014–2018 period as a sample, we study the role of corporate social responsibility performance in technological innovation and the impact of venture capital on the relationship between the two. We find that social responsibility performance can effectively promote innovation, which is promoted significantly by the shareholder responsibility and employee responsibility dimensions of social responsibility. We also find that venture capital inhibits the promotion of social responsibility to technological innovation. This work will guide VC institutions to pay more attention to business organizations social innovation projects.

Suggested Citation

  • Jun Huang & Peijun Xie & Yating Zeng & Yun Li, 2021. "The Effect of Corporate Social Responsibility on the Technology Innovation of High-Growth Business Organizations," Sustainability, MDPI, vol. 13(13), pages 1-17, June.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:13:p:7286-:d:584856
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    Cited by:

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    2. Rongbin Ruan & Wan Chen & Zuping Zhu, 2022. "Linking Environmental Corporate Social Responsibility with Green Innovation Performance: The Mediating Role of Shared Vision Capability and the Moderating Role of Resource Slack," Sustainability, MDPI, vol. 14(24), pages 1-20, December.
    3. Martina Gogolova & Lukas Vartiak & Erika Kovalova, 2023. "Identification of the Starting Points of the Environmental Responsibility of a Transport Company Based on Multi-criteria Analysis," International Journal of Energy Economics and Policy, Econjournals, vol. 13(4), pages 120-129, July.

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