Finance Research Letters ( IF 10.4 ) Pub Date : 2023-03-23 , DOI: 10.1016/j.frl.2023.103822 Nemiraja Jadiyappa, Yogesh Chauhan
This study examines the impact of mandatory CSR regulation on the innovations of Indian firms using the CSR regulation implemented in 2014 as a quasi-natural experiment setting. By employing the Difference in Differences approach, we show that CSR regulation positively impacted firm innovations, proxied using R&D intensity. Moreover, the results remain robust for various specifications and sample selection procedures. This positive relationship is consistent with the resource-based view that CSR is an intangible resource that firms use to gain specialized knowledge about the stakeholders, positively affecting innovations.
中文翻译:
强制性企业社会责任监管和研发投资:来自准自然实验的证据
本研究使用 2014 年实施的企业社会责任监管作为准自然实验设置,检验强制性企业社会责任监管对印度企业创新的影响。通过采用“差异中的差异”方法,我们表明企业社会责任监管对企业创新产生了积极影响,以研发强度为代表。此外,对于各种规格和样本选择程序,结果仍然稳健。这种积极的关系与基于资源的观点一致,即企业社会责任是一种无形资源,企业可以利用它来获得有关利益相关者的专业知识,从而对创新产生积极影响。