企业成熟度、CSR和研发投入与财务绩效的关系研究

Research on the Relationship among Firm Maturity,CSR and R&D Investment and Financial Performance

企业成熟度能够显著影响企业社会责任和研发投入与财务绩效的关系.文中以信息技术行业上市公司为研究对象,收集2012-2015年数据,采用层次回归分析法,检验了企业成熟度对企业社会责任与财务绩效以及研发投入与财务绩效关系的调节作用.实证结果表明:企业社会责任正向影响企业的财务绩效;研发投入与财务绩效呈倒"U"关系;企业成熟度负向调节企业社会责任对财务绩效的影响,而正向调节研发投入与财务绩效间的倒"U"型关系.

Firm maturity has a significant impact on the relationship between corporate social responsibility and financial performance and on the relationship between R＆D investment and financial performance. With the listed companies in information technology industry as the example, the data from 2012 to 2015 were collected. The hierarchical regression analysis method was used to examine the regulating effects of firm maturity on the relationship between corporate social responsibility and financial performance and on the relationship between R＆D investment and financial performance. The empirical results show that corporate social responsibility has a positive influence on financial performance, that there is an inverted ＂U＂ relationship between R＆D investment and financial performance, and that firm maturity adjusts negatively the impact of corporate social responsibility on the financial performance,and regulates positively the ＂U＂-typed relationship between R＆D investment and financial performance.