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| Comparison of the Impact of Green and Non-green Technologies on Subsequent Innovation："Favor One over the Other" or "Win-win Strategy" |
| Gong Hong1,2,Jiang Junlin1 |
| (1.Economics and Management School of Wuhan University,Wuhan 430072,China; 2.Research Center of Strategic Emerging Industries of WuhanUniversity,Wuhan 430072,China) |
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Abstract Green technology is considered an important tool for addressing the challenges to climate change and sustainable development. Many countries have introduced policies to encourage green technology research and development. Although green technology has always been considered to have broad development prospects, the diffusion rate of green technology among enterprises is very low. On the one hand, non-green technological innovation is directly related to products and can bring actual economic benefits to enterprises, while the benefits brought by green technological innovation will be obtained by other stakeholders. On the other hand, the complexity and novelty of green technology innovation make many enterprises that lack technical reserve and foresight choose to develop along the existing technology route. Therefore, it is urgent to design more effective policies to encourage enterprises to carry out green technology innovation.#br#However, due to the limited resources, the development of green technologies will potentially take away the resources of other non-green technologies. If the knowledge spillover generated by green technology is greater than the technology it replaces, then the R&D incentive policy on green technology is reasonable. Therefore, from the perspective of knowledge spillover, this paper compares the differential impact of green technology and non-green technology on subsequent innovation through patent data, and provides support for the government's green technology policy. Previous studies have shown that energy consumption level and enterprise nature will have an impact on enterprises' green technology r&d policy and thus affect the diffusion of green technology. This paper will also discuss the role of these two factors in the knowledge spillover of green technology.#br#This paper uses a patent dataset from CNRDS for analysis, which contains patent data of Listed Chinese manufacturing companies from 1992 to 2019. For the missing data in this data set, we used the patent data platform PatSnap to supplement it. We test the hypothesis by defining variables and constructing multiple linear regression models. In order to verify the robustness of the empirical results, we conducted robustness tests by changing dependent variables and using subsamples.#br#The results show that, compared with non-green technologies, green technologies have more forward citations, stronger knowledge spillover effect and greater positive impact on the subsequent innovation of the whole society. In addition, as the energy consumption level of the industry increases, the knowledge spillover advantage of green technologies compared with non-green technologies gradually becomes smaller. In high energy consumption industries, the knowledge spillover level of green technologies is even lower than that of non-green technologies.Finally, compared with non-state-owned holding enterprises, green technology of state-owned holding enterprises has a more significant positive impact on subsequent innovation.#br#This paper integrates the research results in the field of externality theory and green innovation. Unlike previous literature that focuses on how green technologies can help firms achieve a paradigm shift in management to achieve a balance of economic, environmental and social values, this paper explores the role of green technologies in the management input stage from a knowledge spillover perspective. The empirical results support the research hypothesis of this paper and provide support for the government to design green innovation incentive policies. In addition, the government also needs to fully consider the energy consumption level and ownership nature of enterprises when designing green innovation support policies. Enterprises with high energy consumption may be reluctant to carry out green technology innovation due to conversion cost, their own knowledge structure and other reasons, which become the weak link of the whole society to achieve green development. Therefore, the government should give more support to green technology research and development of enterprises with high energy consumption. The green technology innovation of state-owned holding listed companies has shown positive social impact, and the government should further guide state-owned holding enterprises to carry out more high-quality green technology innovation.#br#
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Received: 25 January 2021
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