Study on value Co-creation and evolution game of low-carbon technological innovation ecosystem

Abstract

As climate change becomes more and more serious, governments and enterprises have gradually attached great importance to achieving value creation through low-carbon technology innovation. However, the low innovation capability of low-carbon technology, the need to improve government regulation, and the low investment of financial institutions make value creation face great challenges. In this paper, a game model of value co-creation evolution in a low-carbon technological innovation ecosystem is constructed with enterprises, governments, and financial institutions as the main body. The results show that: (1) The best optimal evolutionary stabilization strategy is (collaborative innovation, loose regulation and support), that is, the optimal strategic goal of value co-creation; (2) When the comprehensive expenditure for collaborative innovation of low-carbon technologies and independent innovation of enterprises is less than the comprehensive income, the expansion of R&D costs, carbon emission gap, liquidated damages, synergistic advantage benefits and collaborative innovation support can promote the collaborative innovation of low-carbon technologies of enterprises; (3) In the absence of public credibility, the government can expand the subsidy for collaborative innovation of low-carbon technologies of enterprises or appropriately reduce the regulatory costs, so as to achieve the effect of loose regulation; (4) If the return on investment obtained by financial institutions from supporting low-carbon technology innovation is more than that of non-support, the return on investment ratio and penalty coefficient of low-carbon technology innovation can be increased, and the financial institution's willingness to invest in the collaborative innovation of low-carbon technologies shall be enhanced.