ABSTRACT

Based on the resource-based view that identifies both CSR and innovation as resourceful and competitive advantage-generating activities, the current paper examines the effect of innovation spending on corporate social responsibility (CSR) decisions and how this relationship is affected by state ownership. Using firm-level data on India’s manufacturing sector from 2014 to 2016, the study examines the relationship between innovation and CSR spending in the period after the mandatory CSR provisions of the Companies Act, 2013 came into force. An instrumental variable approach is adopted to overcome the problem of endogeneity. To examine if the innovation-CSR spending association is affected by state ownership, the study draws firm-level data on two Indian industry groups from 2011 to 2016 and uses double robustness models. The results suggest that innovation spending affects CSR decisions positively. Additionally, the effect of innovation spending on CSR spending is stronger for private firms.

摘要

基于将企业社会责任和创新视为资源丰富和竞争优势产生活动的资源基础观点，本文研究了创新支出对企业社会责任 (CSR) 决策的影响，以及这种关系如何受到国家所有权的影响。该研究使用 2014 年至 2016 年印度制造业的企业级数据，研究了 2013 年《公司法》的强制性企业社会责任条款生效后创新与企业社会责任支出之间的关系。采用工具变量法来克服内生性问题。为了检验创新-企业社会责任支出关联是否受到国有股的影响，该研究提取了 2011 年至 2016 年印度两个行业组的公司层面数据，并使用了双重稳健性模型。结果表明，创新支出对企业社会责任决策产生积极影响。此外，对于私营企业来说，创新支出对企业社会责任支出的影响更大。