气候变化领域集成服务门户(CCPortal): Do subsidies and R&D investment boost energy transition performance? Evidence from Chinese renewable energy firms

CCPortal

DOI	10.1016/j.enpol.2022.112909
	Do subsidies and R&D investment boost energy transition performance? Evidence from Chinese renewable energy firms
	Qi X.; Guo Y.; Guo P.; Yao X.; Liu X.
发表日期	2022
ISSN	0301-4215
卷号	164
英文摘要	To carry out the energy transition, the Chinese government's subsidy to renewable energy enterprises increased from 4.366 billion yuan in 2008 to 7.538 billion yuan in 2017, so what is the impact of government subsidies on the energy transition? Based on unbalanced panel data from 178 renewable energy listed companies in China for 2008 to 2017, this paper uses a two-way fixed effect model to analyse the relationship between government subsidies, research and development (R&D) investment and energy transition performance, as well as the moderating effect of government subsidies. The results show the following: (1) Government subsidies and R&D investment improve energy transition performance. For every 1 unit increase in government subsidies, energy transition performance improves by 0.689 units, and for every 1 unit increase in enterprise R&D investment, energy transition performance improves by 0.741 units. (2) In general, government subsidies negatively moderate the relationship between R&D investment and energy transition performance, and we find heterogeneity in the effect when we consider firm ownership, scale, industry and regional factors. Government subsidies have a significant negative moderating effect on state-owned enterprises, large enterprises, firms in the wind and photovoltaic power industries, and firms in the eastern region and a significant positive moderating effect on small and medium enterprises. Policy implications aimed at achieving the energy transition are discussed. © 2022 Elsevier Ltd
英文关键词	Energy transition; Government subsidies; R&D investment; Renewable energy
语种	英语
scopus关键词	Photovoltaic effects; Public policy; Chinese Government; Development investment; Energy transitions; Government subsidies; Moderating effect; Panel data; Performance; Renewable energies; Research and development; Research investment; Investments; alternative energy; energy market; governance approach; investment; renewable resource; research and development; China
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/256262
作者单位	College of Economic Management, Taiyuan University of Technology, Taiyuan, 030024, China; Department of Petroleum Engineering, Colorado School of Mines, Golden, CO 80401, United States; Department of Management, Taiyuan University, Taiyuan, 030032, China; Research Institute of Resource-based Economics, Shanxi University of Finance & Economics, Taiyuan, 030006, China
推荐引用方式 GB/T 7714	Qi X.,Guo Y.,Guo P.,et al. Do subsidies and R&D investment boost energy transition performance? Evidence from Chinese renewable energy firms[J],2022,164.
APA	Qi X.,Guo Y.,Guo P.,Yao X.,&Liu X..(2022).Do subsidies and R&D investment boost energy transition performance? Evidence from Chinese renewable energy firms.Energy Policy,164.
MLA	Qi X.,et al."Do subsidies and R&D investment boost energy transition performance? Evidence from Chinese renewable energy firms".Energy Policy 164(2022).