Journal
JOURNAL OF CLEANER PRODUCTION
Volume 245, Issue -, Pages -Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.jclepro.2019.118786
Keywords
Innovation; Green innovation; Governmental subsidies; Local state-owned enterprise (LSOE); Central state-owned enterprise (CSOE); Privately-owned enterprise (POE)
Categories
Funding
- National Natural Science Foundation of China [71602176, 71471042]
- China Postdoctoral Science Foundation [2017T100274, 2016M600288]
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Governments often turn to subsidies to boost enterprises' innovation activities, which gives subsidized enterprises room for allocating the subsidies among different innovation activities. Taking insights from institutional logic theory, this paper proposes that enterprises exhibit different subsidy-allocation behaviors between nongreen and green innovations and that the positive effect of subsidies on nongreen innovation is greater than that on green innovation due to the double-spillover problem that is pertinent to green innovation. Further, this paper argues that innovation intensity varies from privately-owned enterprises to local and central state-owned enterprises and that the underlying reason for this phenomenon is that enterprises with different ownership structures behave with different institutional logics, face different environmental and innovation pressures, and hold different innovative resource and capability endowments. We test these hypotheses by using longitudinal data (2010-2015) on 175 publicly-traded firms in the pharmaceutical industry in China. Overall, the results support most of the hypotheses. (C) 2019 Elsevier Ltd. All rights reserved.
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