Search Results (21)

China’s national strategies emphasize both achieving carbon peaking and neutrality (“dual carbon” objectives) and fostering high-quality economic development. This dual focus highlights the critical importance of the Green and Low-Carbon Transition (GLCT) of the economy and the development of New Quality Productive Forces (NQPF). Firms are central actors in this transformation, prompting the core research question: How does corporate engagement in GLCT contribute to the formation of NQPF? We investigate this relationship using panel data comprising 33,768 firm-year observations for A-share listed companies across diverse industries in China from 2012 to 2022. Corporate GLCT is measured via textual analysis of annual reports, while an NQPF index, incorporating both tangible and intangible dimensions, is constructed using the entropy method. Our empirical analysis relies primarily on fixed-effects regressions, supplemented by various robustness checks and alternative econometric specifications. The results demonstrate a significantly positive relationship: corporate GLCT robustly promotes the development of NQPF, with dynamic lag structures suggesting delayed productivity realization. Mechanism analysis reveals that this effect operates through three primary channels: improved access to financing, stimulated collaborative innovation and enhanced resource-allocation efficiency. Heterogeneity analysis indicates that the positive impact of GLCT on NQPF is more pronounced for state-owned enterprises (SOEs), firms operating in high-emission sectors, those in energy-efficient or environmentally friendly industries, technology-intensive sectors, non-heavily polluting industries and companies situated in China’s eastern regions. Overall, our findings suggest that corporate GLCT enhances NQPF by improving resource-utilization efficiency and fostering innovation, with these effects amplified by specific regional advantages and firm characteristics. This study offers implications for corporate strategy, highlighting how aligning GLCT initiatives with core business objectives can drive NQPF, and provides evidence relevant for policymakers aiming to optimize environmental governance and foster sustainable economic pathways. Full article

Reducing carbon dioxide emissions within carbon-intensive industries is a critical strategy to effectively combat global warming. The accelerated cultivation and enhancement of new quality productivity has created new momentum directed towards industrial low-carbon transformation. Using data from a sample of Chinese provinces and enterprises between 2011 and 2022, this study quantifies, evaluates, and explores the influence and mechanisms of new quality productivity on the low-carbon transformation of carbon-intensive industries. The research findings show that: (1) Fostering new quality productivity effectively promotes the low-carbon transformation of carbon-intensive industries and plays a positive, empowering role. Industrial innovation, digital stimulation, technological innovation, and green empowerment all support the low-carbon transformation of carbon-intensive industries, with their respective impacts gradually decreasing in turn. (2) Mechanism analysis confirms a chain transmission mechanism of “new quality productivity—environmental protection investment—green innovation—the transformation of carbon-intensive industries” at the macro-provincial level. In micro-level carbon-intensive enterprises, a positive U-shaped relationship between new quality productivity and low-carbon transformation of carbon-intensive industries is evident, and the main pathways include increasing low-carbon, energy-saving investment and improving the ESG performance of high-carbon emission enterprises. (3) Advancing transformation is more pronounced in central and western areas, high-carbon areas, non-carbon trading pilot areas, and non-energy-rich ecologically fragile areas. The government and enterprises should take advantage of the development opportunities of new quality productivity and adopt low-carbon behaviors to promote transformational development. Full article

In the context of global climate change and the escalating energy crisis, the development of new energy vehicles (NEVs) has become a critical strategy for China to foster green transformation and achieve its carbon neutrality goals. This study focuses on A-share-listed NEV companies in China from 2015 to 2023, specifically those listed on the Shanghai or Shenzhen Stock Exchange and subject to domestic regulatory standards and disclosure requirements. These firms were selected due to the representativeness, availability, and quantifiability of their data. A super-efficient-network SBM model based on undesirable outputs and the Malmquist index were employed to assess the static and dynamic green technology innovation efficiency of 260 NEV enterprises. Additionally, the Tobit regression model was applied to analyze the influencing factors. The findings reveal that the overall green technology innovation efficiency of Chinese NEV enterprises is relatively low and has exhibited a declining trend over the years. Furthermore, the efficiency of enterprises in the western regions surpasses that of those in the eastern and central regions. Key factors, including government support, enterprise scale, and R&D investment, significantly inhibit the green technology innovation efficiency of firms. Based on these findings, this paper recommends prioritizing the innovation of core technologies, addressing regional disparities in development, and implementing tailored policies to enhance the green technology innovation efficiency and economic performance of NEV enterprises. Full article

This study examines the influence of digital transformation (DT) on green total factor productivity (GTFP) for A-share-listed energy enterprises from 2013 to 2022. The study findings demonstrate that DT can be advantageous in improving GTFP, and this conclusion remains valid even after performing the endogeneity treatment and the robustness test. The mechanism test suggests that improving green technology innovation and alleviating financing constraints are significant transmission paths. The heterogeneity analysis’ findings show that state-owned enterprises, large-scale enterprises, and new energy enterprises benefit more significantly from DT’s favorable efficacy in improving GTFP. By focusing on energy enterprises, this study expands upon the prior research on digital transformation in the micro field. Moreover, this study reveals the critical path of digital transformation in enhancing GTFP, thus enriching its theoretical connection. GTFP will be enhanced by the joint development of digital facilities by enterprises and the government, as well as using distinct digital strategies. Full article

In recent years, China has actively advanced the new energy vehicle industry to achieve its “dual carbon” objectives via a green revolution. The growth of green technical innovation by new energy vehicle enterprises has emerged as a significant national support project, and it has implemented a number of new energy vehicle promotion policies. Therefore, it is essential to investigate if promotional policies encourage the development of green technologies in businesses. China’s 2016 “New Energy Vehicle Promotion Catalogue” serves as the policy’s temporal shock point, and data from Chinese-listed new energy vehicle companies from 2011 to 2022 are used in this study. The effect and mechanism of the new energy vehicle promotion strategy on developing green technologies in businesses are investigated using a double difference model. As per the research, the promotion policy substantially enhances the green technological innovation of new energy vehicle firms. It can augment the level of R&D investment and alleviate financing constraints for enterprises, and enterprises’ social responsibility can act as a positive moderator for the promotion policy and enterprise green technological innovation. Finally, it has a more apparent positive impact on the green technological innovation of major companies and non-state-owned enterprises compared to state-owned firms. Additionally, it is more evident that enterprises are raising green technology innovation in the eastern and central regions. Full article

As the world accelerates efforts to combat climate change and transition toward a green, low-carbon economy, the new energy vehicle (NEV) industry has become a key driver of carbon reduction. Its ability to innovate efficiently is critical to long-term sustainable development. This study builds on the innovation value chain theory and introduces an evaluation framework that accounts for undesirable outputs such as energy consumption and pollutant emissions. Using a super-efficiency network SBM–Malmquist model and Tobit regression, we analyze the technological innovation efficiency of 272 A-share listed NEV enterprises in China from 2016 to 2023. Expanding beyond traditional overall assessments, we examine efficiency at different stages of the industry chain and find that: (a) overall technological innovation efficiency has declined, mainly due to weak pure technical efficiency, underscoring the need for better R&D management and resource allocation; (b) efficiency varies across the industry chain, with midstream firms performing better than those upstream and downstream, reflecting differences in technological accumulation and market conditions; (c) R&D tax deductions and market competition significantly boost innovation efficiency by creating pressure-driven incentives, while mismatched labor skills, the “welfare dependence” effect of tax incentives and financing constraints hinder progress. By introducing a two-stage innovation efficiency evaluation framework, this study not only pinpoints where efficiency losses occur along the industry chain but also provides empirical insights to guide targeted policy decisions, offering valuable implications for the sustainable growth of the global NEV industry. Full article

The new energy transition creates favorable opportunities for popularizing green technologies, while the new energy demonstration city (NEDC) policy provides pivotal platforms for propelling China’s energy transition. Using panel data for listed companies in China, this study ascertains the impact of the NEDC policy on green innovation. The results indicate that the NEDC policy has a positive effect on fostering corporate green innovation. The beneficial impact of the policy is primarily attributed to heightened R&D investment, enhanced human capital, and the mitigation of financial constraints. The NEDC policy exerts a more pronounced influence on green innovation for non-state-owned enterprises, high-energy-consuming enterprises, and those located in the mid-west or in non-resource-based cities. Further, the NEDC policy exhibits negative spillover effects across regions, but positive spillover effects within industries. The regional spillover effects exhibit heterogeneity, with inhibitory effects being more significant in the eastern regions and non-resource-based cities. Full article

This research examines the impact of digital transformation on green innovation across different regions in China, using data from the Shanghai and Shenzhen stock markets from 2007 to 2022. The study reveals that digital transformation significantly enhances green innovation in enterprises, with notable regional disparities. The effects are most pronounced in the economically advanced eastern coastal areas, followed by central regions, while the western regions lag behind. This spatial pattern underscores the importance of tailored policies and strategies to address specific regional barriers and opportunities. Integrating digital technologies such as AI and big data has empowered companies to enhance their innovation activities, particularly in energy efficiency, pollution mitigation, and eco-friendly manufacturing. However, challenges such as lack of motivation for innovation and inadequate greener technologies persist, necessitating new strategies to revive eco-friendly innovations. This research provides valuable insights for policymakers, highlighting the need for regional cooperation, knowledge sharing, and technology transfer to promote sustainable economic development. By leveraging digital transformation, regions can improve their green innovation capabilities, contributing to the broader goals of China’s “dual carbon” initiative and sustainable development. This study emphasizes the critical role of digital technologies in driving green innovation and calls for comprehensive strategies to enhance digital infrastructure, digital literacy, and environmental consciousness across all regions of China. Full article

Against the backdrop of increasing global environmental pollution and energy consumption, green innovation is necessary to achieve green transformation. As an industry with a huge demand for resources and energy consumption, the construction industry shoulders the mission of the times to promote green innovation to enhance the ability of sustainable development. Digital technology provides new opportunities for green innovation in the construction industry. However, the impacts and mechanisms of digital transformation driving green innovation have not been thoroughly studied. In this paper, 121 listed companies in China’s construction industry are selected as a sample from 2011 to 2021, and a total of 1331 annual observations are obtained, and the impact and mechanism of digital transformation on construction enterprises’ green innovation are empirically analyzed by establishing regression models. The study indicates that digital transformation can facilitate green innovation in construction companies by enhancing corporate risk-taking and improving corporate governance. Compared with non-state-owned enterprises, state-owned enterprises have more endogenous incentives for green transformation based on multiple pressures, which to some extent weakens the driving role of digital transformation. The driving effect of enterprises’ digital transformation is more significant when the intensity of regional environmental regulation is high. This paper examines how the digitization of construction enterprises can lead to new greening ideas from the perspective of green innovation. It provides an important theoretical basis and decision-making reference to support the construction industry in its digital transformation and realize the goal of “dual carbon”. Full article

The “technological dividends” brought by AI development provide a new model for the country to achieve green governance, enhance enterprises’ ability to manage pollutant emissions during production and operations, and create a new driving force for improving environmental quality. In this regard, this paper systematically examines the impact of AI on environmental quality in China by employing provincial panel data spanning from 2000 to 2020. Focusing on energy conservation, carbon reduction, and emissions mitigation, the analysis is conducted through the application of a two-way fixed-effects model and mediation effects model to explore both the effects and the mechanisms of AI’s influence on environmental quality. The findings indicate that the development and implementation of AI contribute positively to China’s efforts in energy conservation, carbon reduction, and emissions mitigation, ultimately leading to an enhancement in environmental quality. This conclusion remains valid after multiple robustness checks. Mechanism tests reveal that the optimization of regional energy structures, advancements in green technological innovation, and upgrades in industrial structures serve as crucial pathways through which AI facilitates energy conservation, carbon reduction, and emissions mitigation. Heterogeneity analysis uncovers a notable “path dependence” effect in China’s AI development; regions characterized by higher material capital investment, more advanced technological market development, and greater levels of marketization experience a relatively more pronounced impact of AI on the enhancement of environmental quality. This study offers direct references and practical insights for countries globally to foster AI development, enhance environmental quality, and advance high-quality economic growth amid the ongoing wave of digital and intelligent transformation. Full article

The high-quality development of energy is the basis for and premise of achieving the high-quality development of the economy, and energy enterprises, as the main body of the microeconomy, are the “carrier” of its success. The national strategy of dual carbon and energy security requires energy enterprises to achieve sustainable development. In the context of global sustainable development, ESG is an evaluation technology that comprehensively measures the environmental sustainability, social value and governance ability of enterprises and improves the sustainable development ability of enterprises by focusing on the non-financial performance of enterprises and the co-creation and sharing of stakeholder value. As an important energy producer and consumer, China has not yet established an ESG evaluation system for energy enterprises that is in line with international standards and national conditions. Therefore, this paper constructs an ESG evaluation model framework of energy enterprises and studies the high-quality development performance evaluation of energy enterprises under the sustainable development strategy from the two dimensions of theoretical enrichment and empirical analysis. The model framework includes a factor structure model, performance evaluation index system, index weight model and performance evaluation model. First, integrating the new development concept and the safe development concept, the ESG connotation of China’s energy enterprises was defined by localization. Second, using the Delphi method, an ESG evaluation system with 3 sub-target layers, 14 criteria layers and 40 index layers was constructed. Third, the weights of each index in the ESG evaluation system were established by using an AHP–entropy combination weighting method. Fourth, based on the statistical data of 2021, 79 key pollutant energy enterprises listed in China were selected. The TOPSIS method was used to establish an evaluation model to empirically evaluate the comprehensive level of ESG and the performance of the E, S and G dimensions of the sample companies, and the evaluation results were analyzed. The results show that the weight ratio of E, S and G is relatively balanced; and the weight of social responsibility ranks first at the target level, environmental response ranks first at the criterion level and energy supply guarantee ranks first at the index level. The overall ESG performance of the sample companies is average, and the G performance is not ideal. The ESG synthesis and the performance of all dimensions are significantly polarized, and the development of different dimensions of E, S and G is mostly unbalanced and uncoordinated. The results demonstrate the following: (1) Using the Delphi method, the ESG structural dimension model of energy enterprises is constructed by selecting evaluation indicators reflecting the concepts of innovation, coordination, green, open, sharing and safety, which enriches the connotation and extension theory of ESG. (2) The AHP–entropy combination weighting method model can scientifically obtain the weights of indicators at each level in the ESG evaluation system. (3) The proposed ESG evaluation index system can effectively measure the high-quality development level of energy enterprises. This research can provide regulatory authorities with sustainable development policy suggestions for strengthening the top-level design of ESG; building an ESG-healthy ecosystem; and integrating ESG investment with energy security, carbon-neutral goals and corporate strategies to promote the high-quality development of enterprises. Full article

Against the backdrop of increasingly serious global carbon emissions and environmental challenges, new energy vehicles (NEVs), as important low-carbon means of transport, play a crucial role in reducing carbon emissions, enhancing energy efficiency, and promoting sustainable development. However, green technological innovation is under considerable pressure from economic policy uncertainty (EPU), and the exact effects are not well understood. Using panel data on listed companies’ green technological innovation from 2012 to 2022, this study examines the relationship between EPU and green technological innovation in Chinese NEV enterprises. The findings reveal that rising EPU has a significant negative impact on green technological innovation in these companies; however, company ESG performance and government financial subsidies can effectively mitigate this negative impact. Notably, in provinces where public environmental concerns are high, the moderating effect of government subsidies is weaker; while facing EPU, NEV manufacturers rely more on government subsidies for green technological innovation than do parts manufacturers. These findings provide critical insights for guiding NEV enterprises in coping with EPU, advancing green technological innovation, and offering appropriate support and incentives to policymakers. Full article

One of the most important factors in fostering the sustainable growth of the world economy is the global green low-carbon transition. With its effective use of resources, its high technological requirements, and its high added value, the new energy vehicle industry exemplifies the potential for sustainability. Its growth satisfies the requirements of China’s transition to an economic growth mode. This study performs an empirical analysis, using panel data from 154 new energy vehicle companies for the years 2015 to 2020. It examines the role of research and development (R&D) intensity in the impact relationship between government subsidies, R&D intensity, and innovation performance. The study’s results reveal that government subsidies have a significant positive influence on the innovation performance of enterprises, with this effect being more pronounced in non-state-owned and large-scale enterprises. Moreover, the mechanism analysis indicates that R&D intensity serves as a mediator between government subsidies and innovation performance. Based on this, this paper proposes that the government should refine the subsidy policy and should scientifically classify the enterprise standards and that enterprises should enhance their R&D capability and should develop innovation mechanisms. Full article

The advancement of technological capabilities within lithium battery enterprises crucially facilitates the high-quality development of the new energy industry. This study aims to empirically investigate the impact of mergers and acquisitions (M&A) on the technological innovation capacities of these enterprises, with a specific focus on the lithium battery sector in China. Utilizing data from 34 publicly listed companies spanning the period from 2012 to 2022, we employ the multi-period double-difference method for comprehensive analysis. Researchers have observed that the implementation of merger and acquisition (M&A) strategies by new energy companies leads to an approximately 1.5 percentage point increase in their technological innovation level. However, the improvement in the green technological innovation level is not significant. After a series of robustness tests, the aforementioned conclusion remains valid. Additionally, with the enhancement of firms’ knowledge absorption capacity and regional intellectual property protection, M&A activities can further promote technological innovation in new energy companies and contribute to the enhancement of green technological innovation. Heterogeneity analysis has revealed that technological M&A crucially facilitates the improvement of technological innovation levels among listed companies in the lithium battery industry. Implementing M&A strategies not only benefits the enhancement of firms’ technological innovation levels but also significantly fosters green technological innovation. Furthermore, further research has indicated that changes in the level of green technological innovation after the implementation of M&A strategies by new energy companies facilitate the reduction of industrial wastewater and sulfur dioxide emissions. The main innovation of this study, which utilizes new energy companies as the research object, is as follows: it reveals the causal relationship and regulatory mechanism between M&A, technological innovation, and green technological innovation in new energy companies. Furthermore, the study analyzes the mechanism that promotes green technological innovation in new energy companies from the intellectual property protection perspective. Moreover, it assesses the heterogeneous impacts of changes in both technological innovation levels and green technological innovation levels on environmental governance after the implementation of M&A activities. Full article

A firm’s embedding structures in a technology competition network can influence its propensity for innovation ambidexterity. Using PCT (patent cooperation treaty) patent data of wind energy companies between 2010 and 2019, we adopted social network analysis and fixed-effects panel negative binomial regression to examine the impacts of network structural features on firm innovation ambidexterity. The results show that competitor-weighted centrality contributes to a firm’s propensities for both incremental and radical green innovation. In contrast, a firm’s embeddedness in small-world clusters can moderate the effect of the firm’s competitor-weighted centrality positively on its incremental innovation but negatively on its radical innovation. The study makes three theoretical contributions. First, it enriches the understanding of how the competition network affects innovation ambidexterity. Second, it provides new insights into the relationship between competition network structures and technology innovation strategy. Finally, it contributes to bridging the research on the social embeddedness perspective and green innovation literature. The findings of this study have important implications for enterprises in the wind energy sector regarding how competitive relationships affect green technology innovation. The study underscores the importance of considering the competitiveness of a firm’s rivals and the embedded structural features when devising green innovation strategies. Full article