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Interaction between CSR activities and R&D Investment from a Corporate Sustainability Perspective

Research Project

Project/Area Number 19K01761
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Review Section Basic Section 07060:Money and finance-related
Research InstitutionWaseda University

Principal Investigator

Suto Megumi  早稲田大学, 商学学術院(経営管理研究科), 名誉教授 (10206568)

Co-Investigator(Kenkyū-buntansha) 竹原 均  早稲田大学, 商学学術院(経営管理研究科), 教授 (70261782)
Project Period (FY) 2019-04-01 – 2024-03-31
Project Status Completed (Fiscal Year 2023)
Budget Amount *help
¥2,860,000 (Direct Cost: ¥2,200,000、Indirect Cost: ¥660,000)
Fiscal Year 2021: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2020: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2019: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Keywords企業の社会的責任 / CSR / イノベーション / ステークホルダー / 持続的経営 / 人的資源 / シグナリング / ESG格付け / Work life balance / Diversity / TFP / Innovation / Sustainability rating / stakeholder engagement / ESG / R&D / CSR / innovation / diversity / work Life balance / ESG ratings / engagement / work-life balance / corporate sustainability / intangible assets / employees / stakeholder management / firm-specific risk / trust / investment performance / stakeholders / signaling / investor trust / management forecasts / idiosyncratic risk / market-based risk / 研究開発投資 / コーポレート・サスティナビリティ / 戦略的CSR / コーポレート・ファイナンス
Outline of Research at the Start

本研究は、コーポレート・サスティナビリティの観点から、CSR活動と研究開発投資の相互関連について、金融市場の評価の枠組みを用いて実証分析する。
信頼構築のためのCSR活動が資金調達リスクや金融制約を軽減し、研究開発力の向上を支える手段として機能しているかを検証し、研究開発とCSRへの戦略的取り組みが持続的経営に結び付く経路とメカニズムを解明して、戦略的CSR研究の新たな視点を切り開く。
さらに、制度・環境条件の違いが企業と投資家のCSR意識と市場の反応に反映され、研究開発戦略にどのような影響を与えるか分析することにより、企業の持続的成長に意義あるインプリケーションを導く。

Outline of Final Research Achievements

This study focuses on the linkage between CSR initiatives and innovation strategies from a corporate sustainability perspective in the context of Japanese firms, which have faced transformations in their business models and CSR activities in the face of global technological competition. Based on a multi-stakeholder approach, this study investigates whether and how stakeholder engagement influences organizational innovation capability through employee motivation for creativity in the organization and investor perceptions of CSR.
The novelty of this study is that it carefully identifies the channels that link internal and external stakeholder engagement to organizational outcomes and sheds light on the role of independent sustainability rating agencies in the linkages as information intermediaries.
This study contributes to providing a comprehensive understanding of the integration of CSR in innovation for long-term competitiveness in changing environmental and social circumstances.

Academic Significance and Societal Importance of the Research Achievements

企業経営にとって、ステークホルダーとの良好な関係と組織の研究開発力はともに企業の長期競争力の源泉であり、企業固有の無形資産である。本研究の学術的意義は、社会や投資家の信頼および従業員の意欲とコミットメントを高めるためのCSR活動と研究開発の戦略的統合こそが、企業の持続的経営の手段であり社会の持続性を高める条件であることを実証分析により明らかにしたことにある。社会的意義は、技術競争力の低下に直面する日本経済にとって、ステークホルダーとの関係性から企業経営と組織の在り方を再考する必要を明らかにしたことである。

Report

(6 results)
  • 2023 Annual Research Report   Final Research Report ( PDF )
  • 2022 Research-status Report
  • 2021 Research-status Report
  • 2020 Research-status Report
  • 2019 Research-status Report
  • Research Products

    (14 results)

All 2025 2023 2022 2021 2020 2019

All Journal Article (3 results) (of which Peer Reviewed: 3 results) Presentation (10 results) (of which Int'l Joint Research: 5 results) Book (1 results)

  • [Journal Article] Employee-oriented corporate social responsibility, innovation, and firm value2022

    • Author(s)
      Megumi Suto and Hitoshi Takehara
    • Journal Title

      Corporate Social Responsibility and Environmental Review

      Volume: EarlyCite Issue: 4 Pages: 1-14

    • DOI

      10.1002/csr.2232

    • Related Report
      2021 Research-status Report
    • Peer Reviewed
  • [Journal Article] Impact of corporate social responsibility intensity on firm-specific risk and innovation: evidence from Japan2021

    • Author(s)
      Megumi Suto,Hitoshi Takehara
    • Journal Title

      Social Responsibility Journal

      Volume: -

    • Related Report
      2020 Research-status Report
    • Peer Reviewed
  • [Journal Article] Corporate social responsibility intensity, management earnings forecast accuracy, and investor trust: Evidence from Japan2020

    • Author(s)
      Megumi Suto and Hitoshi Takehara
    • Journal Title

      Corporate Social Responsibility and Environmental Management

      Volume: 27 (6) Issue: 6 Pages: 30473059-30473059

    • DOI

      10.1002/csr.2022

    • Related Report
      2020 Research-status Report
    • Peer Reviewed
  • [Presentation] Stakeholder Perceptions of CSR and Organizational Innovation Capability: Role of ESG Rating Agencies as Information Intermediaries2023

    • Author(s)
      Megumi Suto
    • Organizer
      CSR, Sustainability, Ethics and Governance 9th International Conference 2023
    • Related Report
      2023 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Stakeholder Perceptions of CSR and Organizational Innovation Capability: Role of ESG Rating Agencies as Information Intermediaries2023

    • Author(s)
      Megumi Suto
    • Organizer
      CSR, Sustainability, Ethics and Governance 9th International Conference
    • Related Report
      2022 Research-status Report
    • Int'l Joint Research
  • [Presentation] Diversity in the Workplace, Work-life Balance, and Organizational Productivity: Role of Innovation Capability2022

    • Author(s)
      首藤 惠
    • Organizer
      日本ファイナンス学会30年記念大会
    • Related Report
      2022 Research-status Report
  • [Presentation] Employee-Oriented CSR, Innovation, and Firm Value2021

    • Author(s)
      首藤惠
    • Organizer
      日本ファイナンス学会第29回大会報告
    • Related Report
      2021 Research-status Report
  • [Presentation] Employee-Oriented CSR, Innovation, and Firm Value2021

    • Author(s)
      Megumi Suto
    • Organizer
      Corporate Social Responsibility, Sustainability, Ethics and Governance GCCI 2021, Lisbon
    • Related Report
      2021 Research-status Report
    • Int'l Joint Research
  • [Presentation] Employee-Oriented CSR, Innovation, and Firm Value2021

    • Author(s)
      首藤惠
    • Organizer
      日本ファイナンス学会
    • Related Report
      2020 Research-status Report
  • [Presentation] Employee-Oriented CSR, Innovation, and Firm Value2021

    • Author(s)
      Megumi Suto
    • Organizer
      GCGI Lisbon 2021 Virtual Conference
    • Related Report
      2020 Research-status Report
    • Int'l Joint Research
  • [Presentation] Innovation, CSR Intensity, and Firm-specific Risk: Evidence from Japan2020

    • Author(s)
      首藤惠
    • Organizer
      日本ファイナンス学会
    • Related Report
      2020 Research-status Report
  • [Presentation] Management Earnings Forecasts and Investor Trust: Signaling Effect of Corporate Social Responsibility2019

    • Author(s)
      首藤 惠
    • Organizer
      日本金融学会
    • Related Report
      2019 Research-status Report
  • [Presentation] Innovation, CSR Intensity, and Market-based Risk: Evidence from Japan2019

    • Author(s)
      Megumi Suto
    • Organizer
      5th Annual ICGS Conference
    • Related Report
      2019 Research-status Report
    • Int'l Joint Research
  • [Book] Stakeholder Engagement and Innovation in Japan2025

    • Author(s)
      Megumi Suto and Hitoshi Takehara
    • Total Pages
      220
    • Publisher
      Springer
    • Related Report
      2023 Annual Research Report

URL: 

Published: 2019-04-18   Modified: 2025-01-30  

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