Abstract
The development of green energy is an important tool to balance economic growth and environmental protection. Using 27,043 data observations from A-share listed companies on the Shanghai and Shenzhen stock exchanges in China during 2007–2018, this study examines the relationship between renewable energy policies and total factor productivity of energy firms. Our study shows that renewable energy policies promote the total factor productivity of energy firms and that the promotion effect from policy implementation is somewhat persistent. Our findings are robust to several measures of total factor productivity. Further study suggests that the boosting effect from implementing renewable energy policy may be overshadowed by its effects on resource allocation efficiency and technological innovation. In addition, differences in firms' type, external environment, and geographical location make the impact of renewable energy policies on total factor productivity heterogeneous. For example, renewable energy policies tend to suppress the total factor productivity of state-owned firms, large-scale firms, and firms with high equity concentration.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
