Post-innovation CSR Performance and Firm Value

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• 作者：Dev R. Mishra
• 关键词：Patents ; Citations ; Innovation ; Corporate social responsibility ; Tobin’s Q
• 刊名：Journal of Business Ethics
• 出版年：2017
• 出版时间：January 2017
• 年：2017
• 卷：140
• 期：2
• 页码：285-306
• 全文大小：
• 刊物类别：Humanities, Social Sciences and Law
• 刊物主题：Ethics; Business and Management, general; Management; Business Ethics; Quality of Life Research;
• 出版者：Springer Netherlands
• ISSN：1573-0697
• 卷排序：140

文摘

Analyzing a sample of 13,917 US firm–years from 1991 to 2006, we find that more innovative firms demonstrate high corporate social responsibility (CSR) performance subsequent to a successful innovation. These high-CSR innovative firms enjoy significantly higher valuation post-innovation. These findings imply that firms with demonstrated potential growth opportunities, as evident from the number of registered patents and their citations, benefit by strategically investing more in CSR activities; that is, CSR investment entails ‘doing well by [strategically] doing good.’