Do Corporate Social Responsibility Categories Distinctly Influence Innovation? A Resource-Based Theory Perspective

Abstract

Despite the existing vast literature on corporate social responsibility (CSR), there is a lack of research on the influences of CSR categories (i.e., employees; suppliers, customers, and consumers; environment; and social welfare). The objective of this paper is to investigate the influences of distinct CSR categories on firm innovation from a resource-based theory perspective. Based on a sample of Chinese A-share listed firms from 2010 to 2017, we find that employee-, supplier, customer, and consumer-, and environment-related CSR promotes innovation, while society welfare-related CSR reduces firm innovation. We also examine the distinct mechanisms of distinct CSR categories to influence innovation. Our findings mainly contribute to the literature on the association between CSR and innovation by considering the different influences of distinct CSR categories.