企业社会责任信息披露与R&D投资

以创业板上市公司2011-2013年数据,对企业社会责任信息披露与RD投资之间的关系进行研究。在本文研究过程中,借助中间量融资约束,并且以Almain现金流量模型为融资约束衡量基础。研究结果表明企业社会责任信息披露与融资约束负相关;企业的融资约束导致RD投资不足;企业较好的现金流可以减缓融资约束程度,促进企业进行R的投资,最后本文针对两者之间的关系,提出加大企业RD投资的建议。

Research on the Corporate Social Responsibility Information Disclosure and R&D Investment

Based on the gem listed companies during 2011 -2013 data, the information disclosure of corporate social responsibility and to study the relationship between R&D investment. In the process of this study, with the aid of intermediate amount of financing constraints, and Almain model for financing constraints based on cash flow. The results show that corporate social responsibility information disclosure is negatively related to the financing constraints: Enterprise financing constraints lead to insufficient R&D investment: Enterprise good cash flow can reduce degree of financing constraints, promote enterprises to carry out R&D investment, at the end of the paper according to the relationship between the two, increase the enterprise R&D investment Suggestions are put forward.