Journal
JOURNAL OF CLEANER PRODUCTION
Volume 233, Issue -, Pages 819-829Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.jclepro.2019.06.107
Keywords
Green innovation; Government R&D subsidy; Energy-intensive firms; Propensity score matching
Categories
Funding
- Ministry of Education of China [15YJC630002]
- National Bureau of Statistics of China [2014LY023]
- Anhui province [AHSKQ2015D40]
- National Natural Science Foundation of China [71573069]
- Project of Key Research Institute of Humanities and Social Science in University of Anhui Province
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Energy-intensive industries are a priority for achieving low-carbon economic growth in China, and a large number of government R&D subsidies have been injected into energy-intensive firms to support green innovation in recent years. Most of the existing literature has studied the impacts of R&D subsidies on the general innovation of high-tech firms or emerging enterprises. This paper explores the impacts of government R&D subsidies on the green innovation of energy-intensive firms. By employing propensity score matching with 527 samples of listed companies from 2010 to 2015, the empirical results show that government R&D subsidies increase the green innovation of energy-intensive firms, specifically their tendency and performance, by 107.3% and 54.1%, respectively. Heterogeneity analyses show that the impact is stronger in state-owned enterprises and in small and medium enterprises. Finally, some practical implications are put forward that may help to improve the efficiency of government R&D subsidies and promote the green innovation of energy-intensive firms. (C) 2019 Elsevier Ltd. All rights reserved.
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