Purpose: In practice, an increasing number of economic entities have begun to consider strategic corporate social responsibility (CSR) as an opportunity to create a win-win situation for the organisation and the society. The existing literature has yet to soundly corroborate the role of strategic CSR in corporate innovation. This study examines the relationship between strategic CSR and innovation.Design/methodology/approach: The empirical regression models are estimated to analyse the data collected from 2817 firms yielding 18 845 firm–year observations from 2001 to 2014 in the United States.Findings/results: The findings indicate that firms with strategic CSR generate more and better innovation outputs. The positive effect is more pronounced when institutional ownership is lower, when firm size is larger, and when product market competition is more intense. In terms of economic consequences, firms with strategic CSR actually have higher commercial value and are less likely to suffer loss from failed innovation.Practical implications: To establish a sustainable relationship with stakeholders and realise the long-term development of business and society, enterprises should engage in strategic CSR in a planned manner based on their own resources and professional expertise.Originality/value: The study sheds light on a growing body of literature that investigates the real consequences of firms’ strategic CSR, and explains the growing recognition of the importance of strategic CSR.

中文翻译：

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战略性企业社会责任能否推动企业创新？

目的：在实践中，越来越多的经济实体开始将战略性企业社会责任（CSR）视为为组织和社会创造双赢局面的机会。现有文献尚未充分证实战略性企业社会责任在企业创新中的作用。本研究考察了战略 CSR 与创新之间的关系。设计/方法/方法：估计经验回归模型以分析从 2001 年至 2014 年在美国收集的 2817 家公司产生的 18845 家公司年度观察数据。结果/结果: 研究结果表明，具有战略性 CSR 的公司会产生更多更好的创新产出。当机构所有权较低、企业规模较大、当产品市场竞争更加激烈时。在经济后果方面，具有战略性企业社会责任的企业实际上具有更高的商业价值，并且不太可能因创新失败而遭受损失。现实意义：要与利益相关者建立可持续的关系，实现企业和社会的长期发展，企业应根据自己的资源和专业知识，有计划地参与战略 CSR。原创性/价值：该研究揭示了越来越多的文献，这些文献调查了公司战略 CSR 的真正后果，并解释了人们对重要性的日益认识战略企业社会责任。