Assessing the Relationship between Corporate Social Responsibility and R&D Effectiveness of Firms

IF 2.3 Q3 BUSINESS Global Business Review Pub Date : 2024-04-30 DOI:10.1177/09721509241245788
Elena Ochirova, Mikhail Miriakov, Yury Dranev, Nikita Kamunin
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Abstract

Practices of corporate social responsibility often generate synergetic effects and improve financial and overall firm’s performance. However, in the high-tech industries, research and development (R&D) efficiency remains a key element of development strategy, and a shift towards sustainable activities can be considered as a trade-off. This study investigates the empirical link between corporate social responsibility practices and R&D effectiveness in R&D-intensive industries. Specifically, this research assesses the impact of environmental, social, and governance information disclosure, the availability of third-party rating, and long-termism on R&D returns. We employ the Hausman–Taylor estimator to analyze three R&D-intensive industries, namely pharmaceuticals, biotechnology and software, for the period from 2012 to 2019. Empirical results show that, in general, higher values of corporate social responsibility metrics are associated with the weaker R&D returns. The findings of this research might be meaningful for managers in making informed decisions with respect to corporate social responsibility practices.
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评估企业社会责任与企业研发成效之间的关系
企业社会责任实践往往能产生协同效应,改善财务和公司整体业绩。然而,在高科技产业中,研发(R&D)效率仍是发展战略的关键要素,而转向可持续活动则可能被视为一种权衡。本研究探讨了企业社会责任实践与研发密集型行业研发效率之间的经验联系。具体来说,本研究评估了环境、社会和治理信息披露、第三方评级的可用性以及长期性对研发回报的影响。我们采用豪斯曼-泰勒估计法分析了三个研发密集型行业,即制药、生物技术和软件行业,时间跨度为 2012 年至 2019 年。实证结果表明,一般来说,企业社会责任指标值越高,研发回报率越低。这项研究的结果可能对管理者在企业社会责任实践方面做出明智决策很有意义。
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来源期刊
CiteScore
7.10
自引率
12.50%
发文量
107
期刊介绍: Global Business Review is designed to be a forum for the wider dissemination of current management and business practice and research drawn from around the globe but with an emphasis on Asian and Indian perspectives. An important feature is its cross-cultural and comparative approach. Multidisciplinary in nature and with a strong practical orientation, this refereed journal publishes surveys relating to and report significant developments in management practice drawn from business/commerce, the public and the private sector, and non-profit organisations. The journal also publishes articles which provide practical insights on doing business in India/Asia from local and global and macro and micro perspectives.
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