Abstract

This study employs a novel perspective to assess corporate social responsibility (CSR) as a way of advertising by focusing on the biohealth industry. The biohealth industry is emerging as an important contributor to society, as its business operations directly affect people’s lives. The industry is based on intensive research and development (R&D). Based on CSR’s positive role in building brand equity, we examine whether the effect of CSR performance is positively associated with firm valuation and the effects of R&D. Further, we assess the interplay between CSR performance and R&D in the biohealth industry. The study also examines the moderating role of CSR performance on the interacting effect of traditional advertising and R&D on firm valuation. This highlights the relationship between R&D as strategic investment, strategic employment of CSR as advertising, and traditional advertising.

摘要

本研究采用一种新颖的视角来评估企业社会责任 (CSR) 作为一种广告方式，重点关注生物健康行业。生物健康产业正在成为社会的重要贡献者，因为其业务运营直接影响人们的生活。该行业以密集的研究和开发 (R&D) 为基础。基于企业社会责任在建立品牌资产方面的积极作用，我们检验了企业社会责任绩效的影响是否与公司估值和研发的影响正相关。此外，我们评估了生物健康行业的企业社会责任绩效与研发之间的相互作用。该研究还考察了企业社会责任绩效对传统广告和研发对公司估值的相互作用的调节作用。这突出了研发作为战略投资之间的关系，