Research on the Relationship between Corporate Social Responsibility, R&D Investment and Financial Performance

In recent years, some social hot issues such as environmental pollution, false donations, food hygiene, employee safety hazards and other social hot issues have pushed CSR to the forefront. The issue of corporate social responsibility has aroused wide concern in the state and the public, and it has become an irreversible trend that enterprises should bear more or even exceed the economic level of social responsibility. On the background of encouraging enterprises to fulfill social responsibility, the paper based on social responsibility theory, resource-based theory, stakeholder theory and social contract theory, using Stata16.0 to conduct empirical analysis on the samples of listed companies in A-share pharmaceutical, computer, communication and equipment manufacturing industry in China from 2018 to 2020. This paper studies the impact of CSR and R&D on financial performance and the moderating role of R&D in the relationship between CSR and financial performance. Research findings: CSR and financial performance is significantly positive correlation; R&D investment has a significant negative correlation with the current financial performance, but has a positive effect in the lagging period. R&D investment plays a positive moderating role in the positive correlation between CSR and financial performance. Based on the results, this paper puts forward targeted policies and practical suggestions for enterprises and the government from different dimensions, so as to promote the sustainable development of our enterprises by making them pay attention to their social responsibility and technological innovation capabilities.