Technological Capital and Corporate Social Responsibility: Optimal Strategies forSustainable Financial Performance
DOI:
https://doi.org/10.18046/j.estger.2025.175.7321Keywords:
technological capital, corporate social responsibility, innovation, sustainable financial performance, sustainabilityAbstract
This study aims to assess the joint effect of technological capital and Corporate Social Responsibility on corporate financial performance. A dynamic model using data from 434 Standard & Poor firms (2009–2017) confirms an inverted U-shaped relationship: moderate technological investment generates benefits, while excessive investment leads to diseconomies. Corporate social
responsibility mitigates these risks and amplifies the financial and social value of innovation. It is recommended that firms, particularly in regulated sectors, strategically manage technological capital in alignment with sustainable practices to optimize
outcomes and minimize reputational risks. This study contributes to literature by extending absorptive capacity theory, introducing corporate social responsibility as a moderator of the technological capital-performance relationship.
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