The Relationship Between Corporate Social Responsibility, Social Capital, and Financial Performance in the Context of Digital Health

Lu Yang
Business School, Jiyang College of Zhejiang A&F University, Shaoxing, Zhejiang, 312000, China.
Minming Qiu
Institute of Finance and Economics, Guangdong University of Science and Technology, Dongguan, Guangdong, 523000, China.

DOI:https://doi.org/10.5912/jcb1926

Abstract:

This paper firstly introduces corporate social capital based on population resource theory through the relationship between corporate social responsibility and financial performance under the concept of digital health, and explains the relationship between the three through population ecology theory. Secondly, taking biomedical companies as an example, CSR, financial performance and social capital are set as explanatory variables, interpreted variables and mediating variables respectively, and the relationship among the three is hypothesized and empirically explored. Finally, the hypotheses are verified through descriptive statistical analysis, correlation analysis and regression analysis of the relationships among the three components of biopharmaceutical companies. The empirical evidence shows that the direct effect coefficient of CSR on financial performance is significantly positive, and the mediating effect coefficient of social capital is 0.003, and the proportion of mediating effect reaches 21%, which indicates that social capital plays a partial mediating role between social responsibility and financial performance.