|
|
|
| Dynamic Incentive Effect of Government Environmental R&D Subsidies for Chinese New Energy Enterprises |
| Shang Hongtao,Song Yaxi |
| (School of Economics and Management,Beijing University of Technology,Beijing 100124,China) |
|
|
|
|
Abstract This paper selects the panel data of 122 listed companies in China's new energy industry from 2011 to 2017,establishing the panel vector autoregressive model (PVAR) to study the dynamic interaction between government environmental subsidies,enterprise R&D investment and environmental performance，investigating the incentive effect of government subsidies on enterprise innovation and the feedback effect of enterprise innovation on government subsidies. The research results show that,on the one hand,government environmental subsidies have an impact on enterprises' R&D investment and environmental performance with a lag of 1-4 years. Subsidies promote enterprises' R&D investment,and the promotion effects in non-state-owned enterprises are more significant than in state-owned enterprises,and the effect of subsidies on environmental performance is quite different among enterprises with different property rights,the subsidies significantly inhibit the environmental performance of state-owned enterprises and effectively promote the environmental performance of non-state-owned enterprises. On the other hand,R&D investment and environmental performance of enterprises can promote the follow-up government subsidies with a lag of 1-4 years and 1-2 years respectively,and the government pays more attention to the "result-oriented" policy with environmental output as the reference in the subsidy decision of state-owned enterprises,while the evaluation of non-state-owned enterprises is "process-oriented" with R&D investment as the main indicator. The research results can provide references for adjusting the environmental subsidy policies of China's new energy enterprises and improving the level of environmental R&D and environmental performance of new energy enterprises.
|
|
Received: 13 December 2019
|
|
|
|
|
|
| [1] 马富萍，郭晓川，茶娜.环境规制对技术创新绩效影响的研究——基于资源型企业的实证检验[J].科学学与科学技术管理，2011,32(8):87-92.[2] PORTER M E,LINDEC V D. Toward a new conception of the environment -competitiveness relationship[J]. The Journal of Economic Perspectives，1995，9(4):97-118.[3] BURNETT，ROYCE D．HANSEN，DON R．Eco－efficiency: defining a role for environmental cost management[J]．Accounting,Organizations and Society,2008,33(6): 551-581.[4] 何平林,石亚东,李涛. 环境绩效的数据包络分析方法——一项基于我国火力发电厂的案例研究[J]. 会计研究,2012(2):11-17.[5] KLASSEN R,MCLAUGHLIN C P. The impact of environmental management on firm performance [J].Management Science,1996,42(8):1199-1214.[6] MANSFIELD,EDWIN,SWITZER,et al. Effects of federal support on company-financed R and D: the case of energy[J]. Social Science Electronic Publishing,2017,30(5):562-571.[7] 褚德银,杨姗,宋根苗.财政补贴、税收优惠与战略性新兴产业创新投入[J].财贸研究,2016，27(5):83-89.[8] 余菲菲,钱超.政府科技补助对企业创新投入的门槛效应[J].科研管理,2017,38(10):40-47. [9] GUELLEC D,POTTERIE B V P. The impact of public R & D expenditure on business R&D [J]. Economics of Innovation and New Technology,2003,12(3): 225-243.[10] ARROW K J. The economic implications of learning by doing[J]. Review of Economic Studies,1962,29(3):155-173.[11] 王闽,候晓红.经济不确定性、政府补贴与企业技术创新投入[J].华东经济管理,2015,29(12):95-100.[12] NIESSEN,ALEXANDRA,STEFAN RUENZI. Political connectedness and firm performance: evidence from Germany[J]. German Economic Review,2010,11(4):441-464.[13] 吴成颂，黄送钦.基于企业社会责任视角的政府补贴效果研究——来自中国沪市 A股制造业的经验证据[J].南京审计学院学报，2015，12(2):92-103.[14] 尚洪涛，祝丽然.政府环境研发补贴、环境研发投入与企业环境绩效——基于中国新能源企业产权异质性的数据分析[J].软科学，2018，32(5):40-44.[15] 耿强,胡睿昕. 企业获得政府补贴的影响因素分析———基于工业企业数据库的实证研究[J]. 审计与经济研究,2013(6):80-90.[16] 江涛,傅新红,蒋谦. 四川省财政科技投入与自主创新关系的协整分析[J]. 科技管理研究,2008,28(12):27-29.[17] 尚洪涛,黄晓硕.政府补贴、研发投入与创新绩效的动态交互效应[J].科学学研究,2018,36(3): 446-455+501.[18] 安同良,周绍东,皮建才.R&D补贴对中国企业自主创新的激励效应[J].经济研究,2009,44(10):87-98+120.[19] 李溪.政治关联、财政补贴与企业环境绩效[J].财会通讯,2017(18):40-44.[20] 胡曲应.上市公司环境绩效与财务绩效的相关性研究[J].中国人口·资源与环境,2012,22(6):23-32. |
|
|
|
