This study provides quantitative evidence on the positive effect of spending on socially responsible causes on the long-term growth of U.S technology companies. Maximizing shareholder wealth remains the overarching principle driving organizational strategies, but this has always conflicted with other stakeholders’ interests. Because of these conflicting priorities, entrenching the principles of social responsibility has become imperative. We leverage content analysis, fixed-effects and pooled regression models to examine the effect of engaging in CSR on tech companies’ corporate financial performance in the U.S. The empirical study consists of panel data of the top 100 tech companies listed on the S&P 500 for the period 2017 and 2019. We examine the link between corporate financial performance and CSR proxies. The main results indicate that tech companies that spend more on CSR experience a corresponding increase in revenue and profitability. Contrary to previous studies, we observe insignificant evidence to support a relationship between CSR and Tobin’s Q.

这项研究提供了定量证据，表明支出对社会负责的原因对美国科技公司的长期增长具有积极作用。最大化股东财富仍然是驱动组织战略的首要原则，但这始终与其他利益相关者的利益相冲突。由于这些优先事项相互冲突，因此确立社会责任原则变得势在必行。我们利用内容分析，固定效应和汇总回归模型来检验参与企业社会责任对美国科技公司的公司财务绩效的影响。实证研究包括标准普尔500指数中排名前100位的科技公司的面板数据。在2017年和2019年期间。我们研究了公司财务业绩与CSR代理之间的联系。主要结果表明，在企业社会责任上投入更多的科技公司的收入和盈利能力相应增加。与以前的研究相反，我们观察到了微不足道的证据来支持企业社会责任与托宾Q之间的关系。