Abstract
Using the data of high-tech listed companies in China from 2010 to 2017 as a sample, this paper explores the strategic influence path between corporate charitable giving and R&D investment, and introduces the degree of regional marketization to verify the moderating effect on the relationship between charitable giving and R&D investment. The results found that: (i) There is significant positive effect of charitable giving on R&D investment. (ii) There is a difference in the impact of marketization degree on the relationship between charitable giving and R&D investment, and low marketization degree plays an enhanced moderating role on the positive impact between charitable giving and R&D investment.The paper supports the strategic philanthropy theory and helps to understand corporate charitable giving and innovation behavior from the perspective of endogenous and exogenous corporate support.
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