Corporate Social Responsibility and Environmentally Sound Technology in Endogenous Firm Growth
| Autor: | Zhengning Pu, Angela C. Chao |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2017 |
| Předmět: |
Marginal cost
corporate social responsibility (CSR) media_common.quotation_subject Geography Planning and Development Institutional investor TJ807-830 Management Monitoring Policy and Law Cournot competition TD194-195 030226 pharmacology & pharmacy Renewable energy sources 03 medical and health sciences 0302 clinical medicine Market economy 0502 economics and business Economics GE1-350 050207 economics firm endogenous growth media_common Sustainable development Endogenous growth theory Environmental effects of industries and plants Renewable Energy Sustainability and the Environment 05 social sciences environmentally sound technology Subsidy Environmental sciences Corporate social responsibility Reputation |
| Zdroj: | Sustainability, Vol 9, Iss 2, p 234 (2017) Sustainability; Volume 9; Issue 2; Pages: 234 |
| ISSN: | 2071-1050 |
| Popis: | We have entered the “New Normal” economy, with more emphasis on economic growth driven by innovation than resource. This paper investigates the impacts of firms considering corporate social responsibility and environmentally sound technology by building a three-stage Cournot competition model with asymmetric cost. The sustainable development of economic and endogenous firm growth achieves the win–win result in the theoretical model. Using data from 31 firms in China, this paper empirically researches on the relationships among corporate social responsibility, environmentally sound technology and firm endogenous growth. The results show that: (1) Marginal cost decreased with the increase of innovation, as well as getting government research and development subsidy, which has a positive effect on firm growth. (2) Consumers respond positively to corporate social responsibility initiative, the reputation of the firm can be improved. At the same time, environmentally sound technology objectively reduces the marginal cost of competitors because of the technology spillover. (3) Profit of a firm undertaking corporate social responsibility partly decreases, which has a negative effect on firm growth. The contradiction between corporate social responsibility and profit of firm could be adjusted, such as socially responsible investment fund hosed by institutional investors. |
| Databáze: | OpenAIRE |
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