Impact mechanism of corporate social responsibility on sustainable technological innovation performance from the perspective of corporate social capital

Based on social capital and stakeholder theories, this study examined the impact mechanism of corporate social responsibility (CSR) on technological innovation performance from the mediating effect of corporate social capital (CSC) and the moderating effect of market competition intensity. Moreover, with the development of environmentalism, the sustainable impact of environmental responsibility in the process of technological innovation is examined. First, Poisson panel regression is used to investigate the non-linear impact of CSR on technological innovation performance based on the data of 277 manufacturing companies in China from 2013 to 2018. Our results show that CSR has an inverted U-shaped impact on technological innovation performance and effectively promote technological innovation performance at a certain critical threshold. However, it will negatively influence technological innovation performance when the critical threshold is exceeded. Second, based on social capital theory, CSC is regarded as a mediator variable in the impact of CSR on technological innovation performance. Enterprises can accumulate CSC by implementing CSR, which then promotes technological innovation performance. Third, market competition intensity negatively regulates the effect of CSR on technological innovation performance. The impact of CSR in promoting technological innovation is further weakened when market competition intensity is high. Finally, given that the sustainable development of environment and technological innovation, the research demonstrated that the impact of environmental CSR on technological innovation is consistent with the impact of CSR.