A multi-Factor Analysis for Corporation’s CSR and Creativity: Evidence From Chinese Listed Companies

Abstract

This study applies the data of 2018-2022 Chinese listed companies in the Shanghai and Shenzhen stock market to examine the relationship between corporate social responsibility (CSR), female executives and directors, institutional environment, ownership, and company innovation. The results show that companies prioritizing CSR also emphasize innovation. Additionally, a higher proportion of female executives leads to increased focus on innovation investment, while the findings for female directors are opposite. A strong institutional environment promotes corporate innovation but weakens CSR contribution. The ownership also has a certain influence on both CSR contribution and innovation. However, it is important to note that the pathways of impact are not singular and multiple factors affect both CSR fulfillment and innovative behavior. Overall, this study arises attention that organizations need a comprehensive understanding of the complex relationship between CSR and innovative pursuits to foster sustainable progress and societal well-being.