The Impact of Value Cocreation on CSR Innovation and Economic Performance

Abstract

Based on the resource-based view (RBV) and value cocreation theories, this study investigated how supplier value cocreation, intracompany value cocreation, and customer value cocreation influence corporate social responsibility (CSR) innovation and economic performance. We collected data from 200 manufacturers to test the proposed relationships. The results showed that value cocreation had different positive impacts on CSR; intracompany value cocreation had the greatest impact, followed by customer and supplier value cocreation. CSR did not have a significant positive effect on economic performance. Companies’ innovation capacities completely mediated the relationship between CSR and economic performance. The findings of the analysis have theoretical and practical implications. Theoretically, this study broadens the research scope on CSR innovation and value cocreation. Practically, it helps companies realize that by sharing information, establishing cooperative relations, and conducting interactions with stakeholders, which can promote the implementation of CSR innovation practices, economic performance can be improved.