Impact of Corporate Social Responsibility on R&D Investment Based on Multiple Regression Analysis — The Dual Moderating Effect of Media Attention and Marketization Process

Abstract

Using multiple regression analysis, this paper investigates the relationship between corporate social responsibility and R&D investment, and examines the moderating effect of media attention and marketization process. The study shows that: (1) Corporate social responsibility can promote R&D investment. (2) Under higher media attention,
corporate social responsibility can better promote R&D investment. (3) Under higher marketization process, media attention will create stronger moderating effect on corporate social responsibility and R&D investment. (4) Compared with state-owned companies, non-state-owned companies’ performance of social responsibilities brings more obvious positive impact on R&D investment. This study provides theoretical support for corporate
performance of social responsibilities, which also provides a new perspective for revealing the impact mechanism of corporate R&D investment, and at the same time offers a certain reference for related practices.