Post-Innovation CSR Performance and Firm Value

41 Pages Posted: 24 Apr 2015

See all articles by Dev R. Mishra

Dev R. Mishra

University of Saskatchewan - Edwards School of Business

Date Written: January 23, 2015

Abstract

Analyzing a sample of 13,917 U.S. firm-years from 1991 to 2006, we find that more innovative firms demonstrate high corporate social responsibility (CSR) performance subsequent to a successful innovation. These high-CSR innovative firms enjoy significantly higher valuation post-innovation. These findings imply that firms with demonstrated potential growth opportunities, as evident from the number of registered patents and their citations, benefit by strategically investing more in CSR activities; that is, CSR investment entails ‘doing well by [strategically] doing good’.

Keywords: Patents, Citations, Innovation, Corporate Social Responsibility, Tobin’s Q

JEL Classification: O3, G1, G3, D8

Suggested Citation

Mishra, Dev R., Post-Innovation CSR Performance and Firm Value (January 23, 2015). Available at SSRN: https://ssrn.com/abstract=2597882 or http://dx.doi.org/10.2139/ssrn.2597882

Dev R. Mishra (Contact Author)

University of Saskatchewan - Edwards School of Business ( email )

Edwards School of Business
Saskatoon, Saskatchewan S7N 5A7
Canada
306-966-8457 (Phone)
306-966-2515 (Fax)

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