A Research on the Influence of MNEs Fulfilling Social Responsibility on Green Innovation

With the increasingly severe global climate change and ecological environment problems, corporate social responsibility and green innovation play a vital role in promoting sustainable development. This paper takes the listed companies of Shanghai and Shenzhen A-shares in China from 2010 to 2020 as samples, and uses the OLS fixed effect model and empirical analysis methods to explore the impact of multinational corporations' fulfillment of social responsibility on green innovation, and particularly examines the moderating role of financing constraints. The study finds that there is a significant positive correlation between corporate social responsibility and green innovation, indicating that the positive performance of corporates in fulfilling social responsibility can effectively promote the improvement of their green innovation capabilities. However, this positive correlation is negatively affected by financing constraints. That is, among corporates facing greater financing constraints, the relationship between social responsibility and green innovation is weaker. In addition, the heterogeneity analysis reveals that the relationship between social responsibility and green innovation is more significant in manufacturing multinational corporations and samples from the central and eastern regions.