社会责任履行对企业创新投入的分层影响机制研究——基于中国上市公司的经验证据

新时代,中国企业高质量发展离不开企业的创新投入,而承担社会责任已成为企业发展的重要驱动力。文章根据企业利益相关者对企业社会责任进行划分,即分别为货币资本层、人力资本层、社会资本层,系统地研究企业社会责任所涵盖的三个层级对企业创新投入的影响,基于上市公司2010-2017年的面板数据,运用面板模型进行实证检验发现:企业社会责任承担分层影响着企业创新投入。其中,货币资本层社会责任和人力资本层社会责任对企业技术创新具有正效应,而社会资本层社会责任则对企业技术创新产生了负效应。总体而言,企业承担社会责任仍能够促进企业创新投入的提升。进一步对变量进行相对重要性分析发现,对于中小规模企业,人力资本层社会责任的履行是最为重要的,企业员工因素是企业创新投入提升的核心推动力。另外两个层面的社会责任履行,对于企业创新投入的影响要弱于人力资本层社会责任。

Research on the Hierarchical Influencing Mechanism of Social Responsibility Performance on Enterprise Innovation Ability: Empirical Evidence Based on Chinese Listed Companies

Under the background of the new normal economy, the high-quality development of Chinese enterprises can not be separated from the innovation ability of enterprises, and social responsibility has become the driving force for the development of enterprises. It is of theoretical and practical significance to clarify the influence mechanism of CSR on innovation ability of enterprises. Based on the panel data of listed companies from 2010 to 2017, this paper divides corporate social responsibility into three levels:monetary capital level, human capital level and social capital level. It systematically studies the impact of the three levels covered by corporate social responsibility on corporate innovation ability. It affects the innovation ability of enterprises. Among them, the social responsibility of the monetary capital layer and the social responsibility of the human capital layer have a positive effect on enterprise innovation, while the social responsibility of the social capital layer has a negative effect on enterprise technological innovation. Generally speaking, corporate social responsibility can still promote the improvement of enterprise innovation ability. Further analysis of the relative importance of variables found that, for small and medium-sized enterprises, the fulfillment of social responsibility at the human capital level is the most important. The employees of the enterprise are the core driving force for the improvement of the innovation capability of the enterprise. The other two levels of social responsibility performance are less important to the innovation ability of enterprises than the social responsibility of human capital.