Government subsidies, market competition and the TFP of new energy enterprises

被引：45

作者：

Lin, Boqiang ^{[1
]}

Zhang, Aoxiang ^{[1
]}

机构：

[1] Xiamen Univ, China Inst Studies Energy Policy, Sch Management, Fujian 361005, Peoples R China

来源：

RENEWABLE ENERGY | 2023年 / 216卷

基金：

中国国家自然科学基金;

关键词：

Government subsidies; New energy enterprises; Market competition; China; RESEARCH-AND-DEVELOPMENT; PRODUCTIVITY; SIZE; INNOVATION; FIRMS;

D O I：

10.1016/j.renene.2023.119090

中图分类号：

X [环境科学、安全科学];

学科分类号：

08 ; 0830 ;

摘要：

Exploring the relationship between government subsidies, market competition, and the total factor productivity (TFP) of new energy enterprises will help countries optimize renewable energy support policies in the context of carbon neutrality constraints and energy demand growth. Based on the panel data of 145 listed new energy enterprises from 2007 to 2020, this paper investigates how government subsidies affect the TFP of new energy enterprises and the moderating effects of market competition. Our main findings are as follows: (1) Government subsidies positively affect the TFP of new energy enterprises. Heterogeneity analysis suggests that government subsidies have a larger effect on the TFP of non-SOEs, midstream and upstream enterprises, and smaller enterprises. (2) Industry market competition negatively moderates the effect of government subsidies on TFP, while enterprise competition power has a positive moderating effect. The marginal effect of government subsidies is significantly positive only when the industry market competition is below a certain threshold or the enterprise competitive power exceeds a certain threshold. (3) Government subsidies enhance the TFP by promoting invention and utility model innovation of new energy enterprises. In addition, market competition significantly moderates the relationship between government subsidies and utility model innovation, thereby moderating the marginal effect of government subsidies on TFP. The findings contribute to a better understanding of the relationship between government support, market competition, and new energy development.

引用

页数：10

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