The effect of subsidy on innovation intentions and innovation behaviors of new energy enterprises

doi:10.12006/j.issn.1673-1719.2023.268

Abstract

Abstract:

New energy enterprises are the main forces of green innovation, and subsidy is a common instrument to encourage innovation. However, the effect of the subsidy on the innovation performance of new energy enterprises has not been systematically explored. This paper innovatively divides the innovation performance of new energy enterprises into innovation intentions and innovation behaviors. Taking the new energy listed companies in Shanghai and Shenzhen stock markets as research subjects, this paper explores the effects of the subsidy on innovation intentions and behaviors, and the moderation effect of the subsidy on innovation intentions transformation, with threshold regression model and moderation model. The results show that subsidy has a significant promotion effect on innovation intentions, an “S-shaped” effect on innovation behaviors, and a positive moderation effect on the transformation of innovation intentions. Besides, the positive effects of subsidy on innovation are more pronounced among small-scale, low-liability, and high-profit enterprises. The findings contribute to formulating and assessing subsidy policies for new energy enterprises.

Key words: Government subsidy, Innovation intentions, Innovation behaviors, Threshold regression

GUO Jian-Feng, YANG Xiao-Han, TAN Xian-Chun. The effect of subsidy on innovation intentions and innovation behaviors of new energy enterprises[J]. Climate Change Research, 2024, 20(3): 373-383.

Figures/Tables 14

Table 1 Definition and source of primary variables

Table 2 Sample selection and distribution

Table 3 Descriptive statistics of variables

Table 4 Spearman’s correlation coefficients of main variables

Table 5 Test results of the threshold models on the relationships between subsidy and innovation intentions and behaviors

Table 6 Regression results of models on the relationships between subsidy and innovation intentions and behaviors

Table 7 Regression results of the relationship between subsidy and innovation intentions transformation

Table 8 Robustness test results of the threshold models on the relationships between subsidy and innovation intentions and behaviors

Table 9 Robustness test results of the regression on the relationships between subsidy and innovation intentions and behaviors

Table 10 Robustness test results of the relationship between subsidy and innovation intentions transformation

Table 11 Subgroup regression results of the relationship between subsidy and innovation intentions

Table 12 Subgroup regression results of the relationship between subsidy and innovation behaviors

Table 13 Subgroup regression results of the relationship between subsidy and innovation intentions transformation

Fig. 1 Results of threshold models on innovation behaviors

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