scholarly journals Financial Speculation or Capital Investment? Evidence From Relationship Between Corporate Financialization and Green Technology Innovation

2021 ◽  
Vol 8 ◽  
Author(s):  
Zhehao Huang ◽  
Xue Li ◽  
Shuanglian Chen
Keyword(s):  
Capital Investment ◽  
Technology Innovation ◽  
Capital Expenditure ◽  
External Environment ◽  
Green Technology ◽  
Mediating Effect ◽  
Effect Model ◽  
Financial Speculation ◽  
Decision Making Behavior ◽  
The Impact

In this paper, 3,493 non-financial listed companies in China from 2007 to 2018 are selected as samples to study the impact of corporate financialization on green technology innovation through the panel regression model as well as the mediating effect model, so as to identify whether enterprises tend to financial speculation or capital investment. The main conclusions are as follows. First, corporate financialization has a speculative tendency instead of strategic capital investment. Second, corporate financialization shows heterogeneous impact on green technology innovation, which is dominated by capital expenditure. Third, the heterogeneity is reflected in two aspects: attribute characteristics and external environment. The attribute characteristics of the enterprise includes whether the industry belongs to pollution industry and the ownership structure. The external environment includes the location of enterprise and the degree of financing constraints. Fourth, there are significant differences between attribute characteristics and external environment of enterprises in the impact of financialization decision-making behavior. The deviation caused by enterprise attributes is less than 10%, but the deviation caused by external environment is close to 80%.

scholarly journals Research on the Impact of Green Technology Innovation on Energy Total Factor Productivity, Based on Provincial Data of China

2021 ◽  
Vol 9 ◽  
Author(s):  
Mengxin Wang ◽  
Yanling Li ◽  
Gaoke Liao
Keyword(s):  
Total Factor Productivity ◽  
Industrial Structure ◽  
Technology Innovation ◽  
Threshold Model ◽  
Threshold Effect ◽  
Green Technology ◽  
Mediating Effect ◽  
Factor Productivity ◽  
Influence Mechanism ◽  
The Impact

Against the background of carbon peaking and carbon neutralization, green technology innovation plays an important role in promoting the energy total factor productivity (TFP). This study verifies the impact of green technology innovation on energy TFP in a complete sample and the subsamples by region, by constructing a panel threshold model, and analyzes its influence mechanism on the basis of the mediating effect test based on annual provincial data of mainland China from 2005 to 2018. The empirical results reveal the following: first, with the level of economic development as the threshold variable, there is a threshold effect in the impact of green technology innovation on the energy TFP; second, green technology innovation has an impact on the energy TFP through industrial structure upgrading; that is, industrial structure has a mediating effect in the influence mechanism; and third, there is heterogeneity in the impact of green technology innovation on the energy TFP among different regions in China, and the threshold effect only exists in the western region, since the central and eastern regions have crossed a certain developmental stage.

scholarly journals Rapid Transportation and Green Technology Innovation in Cities—From the View of the Industrial Collaborative Agglomeration

2021 ◽  
Vol 11 (17) ◽  
pp. 8110
Author(s):  
Shanlang Lin ◽  
Ziyang Chen ◽  
Ziwen He
Keyword(s):  
Local Governments ◽  
High Speed ◽  
Technology Innovation ◽  
Green Technology ◽  
Service Industries ◽  
Mediating Effect ◽  
Western China ◽  
High Speed Rail ◽  
Effect Model ◽  
Rail Services

This research uses a two-way fixed effect model to examine the correlation between the development of high-speed rail and the growth of green technology innovation by adopting the panel data of 284 Chinese cities between 2004 and 2013. The empirical results show that the supply of high-speed rail services has a significant promoting influence on the advance of urban green technology innovation capabilities. In particular, cities located in central and western China, along with those cities with relatively little government support or relatively backward public cultural infrastructure, have more chances to benefit from the supply of high-speed rail services. In addition, by employing a mediating effect model, this article finds that the industrial collaborative agglomeration plays an important mediating role between high-speed rail and regional green technology innovation. Therefore, this article suggests that the Chinese central government should continue to accelerate the construction of the rapid transportation network and expand the coverage of high-speed rail services in China to increase the growth of green technology innovation and achieve steady and sustained economic growth in China. Meanwhile, local governments should actively guide the collaborative agglomeration of manufacturing and related producer service industries under local conditions to stimulate the expansion of the green technology innovation market.

scholarly journals How Does Green Technology Innovation Affect Urbanization? An Empirical Study from Provinces of China

2021 ◽  
Author(s):  
Yingzhi Xu ◽  
Ruijie Zhang ◽  
Xiaomin Fan ◽  
Qiutong Wang
Keyword(s):  
Industrial Structure ◽  
Technology Innovation ◽  
Estimation Method ◽  
Generalized Least Squares ◽  
Green Technology ◽  
Mediating Effect ◽  
Three Dimensions ◽  
Mediating Role ◽  
City Construction ◽  
The Impact

Abstract This paper investigates the impact of green technology innovation on urbanization using the panel data for 30 Chinese provinces during 2005–2016. First, using the panel Feasible Generalized Least Squares (FGLS) estimation method, we analyze the direct impact of green technology innovation on urbanization and its three dimensions, namely population urbanization, industrial urbanization and ecological urbanization. Results show that green technology innovation has significantly promoted the development of urbanization, particularly ecological urbanization. Then, we examine the indirect impact of green technology innovation on urbanization applying the mediating effect method. It is concluded that green technology innovation can indirectly affect urbanization through foreign investment effect, energy consumption effect and informatization development effect, while the mediating role of industrial structure optimization effect is not significant. Finally, we propose several recommendations in terms of innovative talents introduction, industrial upgrading, and smart city construction to better promote China’s urbanization through green technology innovation.

scholarly journals Does the Low-Carbon City Pilot Policy Promote Green Technology Innovation? Based on Green Patent Data of Chinese A-Share Listed Companies

2021 ◽  
Vol 18 (7) ◽  
pp. 3695
Author(s):  
Jintao Ma ◽  
Qiuguang Hu ◽  
Weiteng Shen ◽  
Xinyi Wei
Keyword(s):  
Technological Innovation ◽  
Technology Innovation ◽  
Objective Assessment ◽  
Green Technology ◽  
Low Carbon ◽  
Corporate Financing ◽  
Multiple Dimensions ◽  
Low Carbon City ◽  
The Impact ◽  
A Share

To cope with climate change and achieve sustainable development, low-carbon city pilot policies have been implemented. An objective assessment of the performance of these policies facilitates not only the implementation of relevant work in pilot areas, but also the further promotion of these policies. This study uses A-share listed enterprises from 2005 to 2019 and creates a multi-period difference-in-differences model to explore the impact of low-carbon city pilot policies on corporate green technology innovation from multiple dimensions. Results show that (1) low-carbon city pilot policies stimulates the green technological innovation of enterprises as manifested in their application of green invention patents; (2) the introduction of pilot policies is highly conducive to green technological innovation in eastern cities and enterprises in high-carbon emission industries; and (3) tax incentives and government subsidies are important fiscal and taxation tools that play the role of pilot policies in low-carbon cities. By alleviating corporate financing constraints, these policies effectively promote the green technological innovation of enterprises. This study expands the research on the performance of low-carbon city pilot policies and provides data support for a follow-up implementation and promotion of policies from the micro perspective at the enterprise level.

scholarly journals The Influence of Urban Sprawl on Air Pollution and the Mediating Effect of Vehicle Ownership

Processes ◽  
2021 ◽  
Vol 9 (8) ◽  
pp. 1261
Author(s):  
Aiping Tao ◽  
Qun Liang ◽  
Peng Kuai ◽  
Tao Ding
Keyword(s):  
Air Pollution ◽  
Urban Sprawl ◽  
Negative Impact ◽  
Empirical Support ◽  
Mediating Effect ◽  
Vehicle Ownership ◽  
Mediating Role ◽  
Effect Model ◽  
Significant Negative Impact ◽  
The Impact

Based on the panel data of 224 prefecture-level and above cities in China from 2003 to 2016, this paper empirically studies the impact of urban sprawl on air pollution and introduces a mediating effect model to test the mediating role of vehicle ownership concerning the impact of urban sprawl on air pollution. The research in this paper arrives at three conclusions. First, urban sprawl has a significant positive effect on air pollution, and this conclusion is still valid after solving the endogeneity problem and conducting a robustness test. Second, the results of mediating effect test show that urban sprawl indirectly affects air pollution through the partial mediating effect of vehicle ownership. By removing the mediating effect, urban sprawl has a significant negative impact on air pollution, indicating that the mediating effect of vehicle ownership is higher concerning the impact of urban sprawl on air pollution. Third, further panel quantile regression results show that the higher the level of air pollution, the weaker the mediating effect of vehicle ownership and the stronger the direct effect of urban sprawl on air pollution. These conclusions can provide some empirical support for solving the air pollution problems caused by urban sprawl in China.

scholarly journals Do the Green Credit Guidelines Affect Corporate Green Technology Innovation? Empirical Research from China

2021 ◽  
Vol 18 (4) ◽  
pp. 1682
Author(s):  
Min Hong ◽  
Zhenghui Li ◽  
Benjamin Drakeford
Keyword(s):  
Technology Innovation ◽  
Green Technology ◽  
Debt Financing ◽  
Financing Constraints ◽  
Difference Model ◽  
Financing Constraint ◽  
Important Means ◽  
Regulatory Commission ◽  
The Impact ◽  
Innovation Policies

Green technology innovation is regarded as an important means to achieve sustainable development. Countries all over the world mainly implement green technology innovation policies from the aspects of environmental regulation and financing constraints. The effect of financing constraint policy on enterprise green technology innovation remains to be investigated. Based on the event of “green credit guidelines” issued by China Banking Regulatory Commission in 2012, this paper collects the panel data of China’s 2825 listed companies from 2007 to 2018, constructs a difference-in-difference model, and studies the impact of green credit guidelines on corporate green technology innovation and its mechanism. The empirical results show: First, green credit guidelines can promote corporate green technology innovation on the whole. Second, the mechanism of green credit on enterprise green technology innovation is identified. Green credit guidelines mainly limited green technology innovation through reducing debt financing, rather than through financing constraints. Third, the impact of green credit guidelines on green technology innovation is heterogeneous. Green credit guidelines have a significant effect on the green technology innovation of state-owned and large enterprises, but have no effect on the green technology innovation of non-state-owned and small ones.

scholarly journals The Heterogeneous Effects of Different Environmental Policy Instruments on Green Technology Innovation

2019 ◽  
Vol 16 (23) ◽  
pp. 4660 ◽  
Author(s):  
Yi ◽  
Fang ◽  
Wen ◽  
Guang ◽  
Zhang
Keyword(s):  
Environmental Policy ◽  
Technology Innovation ◽  
Policy Instruments ◽  
Threshold Effect ◽  
Fixed Effect Model ◽  
Green Technology ◽  
Environmental Policy Instruments ◽  
Heterogeneous Effects ◽  
Different Types ◽  
The Impact

Environmental regulation is an important driving force of green technology innovation. In this paper, environmental policy instruments are classified into three categories: command-control, market-incentive and social-will. Based on the panel data of 30 provinces in China from 2010 to 2017, a fixed effect model and a panel threshold regression model are used to test the heterogeneous effects of different types of environmental policy instruments on the green technology innovation in China. The results show that: (1) Overall, China’s environmental policy instruments do not provide sufficient impetus for green technology innovation; (2) The impact of command-control environmental policy instruments on green technology innovation has a single threshold effect. When its intensity exceeds a certain threshold, green technology innovation is improved. The impact of market-incentive environmental policy instruments on the green technology innovation shows a double threshold effect, that is to say, only when its intensity maintained within a reasonable interval, can green technology innovation be promoted by it; (3) There is significant spatial difference in the impact of different types of environmental policy instruments on green technology innovation. In order to induce green technology innovation, it is necessary to formulate a combined and differentiated environmental policy system, while rationally adjusting the strength of different types of environmental policy instruments.

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