Social Responsibility and Corporate Innovation -Selfdefeating or all Gets Sorted Out

Social responsibility and corporate innovation are the most popular research topics in recent years, but the current research rarely explores the relationship between the two topics. Therefore, this paper attempts to explore the relationship and the path between the two topics. The study found that corporate social responsibility is conducive to enhancing the innovation capacity of enterprises, and this relationship is more significant in the high-tech industries and private enterprises. The above conclusions are still robust after controlling endogenous. Path checks show that in the financial accounting perspective, social responsibility through reduce the real earnings management to enhance the level of enterprise innovation, in the corporate governance perspective, corporate social responsibility will enhance employee loyalty and thus promote enterprise innovation, and financing constraints and agency costs did not play a mediating role ; Further studies have found that there are differences in the impact of different subjects on social responsibility for innovation. The responsibility of the enterprise to the employees and the public can significantly promote the innovation of the enterprise, and the effect of the investor and the supplier to fulfill the responsibility of innovation is not obvious. The conclusion of this paper expands the influencing factors of innovation ability, and enriches the related research on the social consequences of social responsibility.