CSR Performance, Technological Innovation, and Corporate Value: Evidence from NEVs Industry in China

Authors

  • Qing Wu Interdisciplinary Studies College, Payap University, Chiangmai, Thailand
  • Theeralak Satjawathee Interdisciplinary Studies College, Payap University, Chiangmai, Thailand
  • Zhan Wang College of Business and Economics, Shanghai Business School, Shanghai, China

Keywords:

CSR, Technological innovation, Corporate value, Mediating factor, NEVs industry

Abstract

In the current ever-changing business environment, corporate social responsibility (CSR) is viewed as an essential strategic approach for enterprises to achieve a lasting competitive edge. Investment in technological innovation is crucial for enhancing corporate value (CV) as it is a significant means for businesses to innovate their products and services while actively meeting their social responsibilities. By analyzing 385 listed Chinese new energy vehicle (NEVs) companies with empirical study, this paper examines (1) how CSR performance relates to technological innovation investment of these companies, and (2) whether technological innovation serves as a mediating role between CSR performance and corporate value of them. This study uses technological innovation investment data collected from the CSMAR database and related reports and analyzes them using descriptive statistics and regression analysis.

Results show that CSR performance positively impacts the technological innovation of Chinese-listed NEVs enterprises regarding their R&D intensity and R&D personnel. In addition, technological innovation is a mediating factor between CSR performance and the corporate value of these enterprises. These findings suggest that strengthening CSR can serve as a strategic lever to promote technological progress and enhance overall firm performance.

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29-12-2025

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Wu, Q., Satjawathee, T., & Wang, Z. (2025). CSR Performance, Technological Innovation, and Corporate Value: Evidence from NEVs Industry in China. Journal of Social Work and Social Administration, 33(2), 166–210. retrieved from https://so04.tci-thaijo.org/index.php/swjournal/article/view/275234

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Vol. 33 No. 2 (2025): July-December 2025

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