Technological Innovation Investment Research Articles

A Measurement and Analysis of the Growth of Urban Green Total Factor Productivity——Based on the Perspective of Energy and Land Elements

From the perspective of input and output differentiation, using the SBM directional distance function method and Luenberger productivity index, this paper calculates the index of the green total factor productivity (GTFP) growth of 280 cities in China, from 2004 to 2016. This study also analyzes the growth sources of urban GTFP and the decomposition situation of GTFP in four cases, as well as the factors that affect the growth of GTFP. Finally, the following conclusions are drawn: 1) the overall growth trend of GTFP under four different situations of elements input is basically consistent. As a whole, the growth trend can be divided into three stages. The first rising stage of GTFP growth was from 2004 to 2008; the next declining stage was from 2008 to 2012, and a further rising stage occurred from 2012 to 2016. 2) From the decomposition situation of GTFP growth, we can know that the main source of GTFP growth is in the scale efficiency (LSEC) of GTFP. The decomposition of inefficiency levels in four cases shows that the inefficiency of land resources is the highest among many factors. Land resource inefficiency is also the key factor determining the output efficiency; the input inefficiency and bad-output inefficiency between them account for about 50% of the overall inefficiency level. 3) Among the factors that influence GTFP growth, the negative effect of urban land and energy structure is mainly reflected in the pure technology growth (LPTP) and scale efficiency growth (LSEC) of GTFP. In addition, investment in scientific and technological innovation and foreign direct investment both have a significantly positive effect on GTFP growth, as well as in improving urban population density and road area per capita.

Coupling of Urban Economic Development and Transportation System: An Urban Agglomeration Case

Urban agglomeration is a new carrier of regional economic development, whose spatial structure can be reflected by the transportation system. The coordination between urban economic development and the transportation system is conducive to promoting balanced urban economic development. As an important urban cluster of China, the Harbin-Changchun urban agglomeration plays an important role in promoting the revitalization of northeast China. Targeting 11 cities of the Harbin-Changchun urban agglomeration, this paper adopts the coupling coordination degree model to study the coordination level of urban economic development and the transportation system. The results show that large differences exist among the cities, with Changchun at the outstanding position. A more developed transportation system exists in the western Harbin-Changchun urban agglomeration, while the east is in a worse condition. The coupling coordination degree of the urban economic development and transportation system shows obvious stratification. Further adjusting the industrial structure, expanding the degree of opening to the outside world, and increasing investment in transportation technological innovation are recommended to promote an integrated development pattern in the Harbin-Changchun urban agglomeration.

Research on Technological Innovation Investment, Financing Constraints, and Corporate Financial Risk: Evidence from China

Technological innovation is the source of generating new momentum. In the context of the financing constraints generally existing in China, it is particularly important to explore the impact of technological innovation investment on corporate financial risk, which also provides a risk identification perspective and development direction for enterprises. Based on the data of China’s small and medium-sized listed companies from 2010 to 2019, and from the perspective of moderating effect of financing constraints, this paper uses multiple regression analysis method to test the impact mechanism of technological innovation investment on corporate financial risk and the moderating effect of financing constraints in both. The results show that technological innovation investment can significantly reduce corporate financial risk, while financing constraints can significantly improve the level of financial risk. Financing constraints play a moderating role in technological innovation investment and financial risk. Heterogeneity test found that, compared with large-scale enterprises, small-scale enterprises’ technological innovation investment has a more significant impact on financial risk, and the moderating effect of financing constraints is also greater. Compared with private enterprises, state-owned enterprises’ technological innovation investment has less impact on financial risk, and the moderating effect of financing constraints is not significant.

Environmental decentralization, digital finance and green technology innovation

Financial development is an important driving force for promoting green technology innovation. However, traditional finance faces obstacles in supporting these innovations, and it is unclear how this dilemma can be solved. This paper seeks new solutions using digital finance to solve this dilemma. Using panel data on listed companies and cities in China, this paper analyzes the impact of digital finance on green technology innovation. The results show that (1) digital finance significantly promotes green technology innovation, and this finding holds even through serial robustness tests. The promotion effects are attributed to a reduction in corporate financing constraints, industrial structure upgrading and manufacturing development. (2) Digital financial development has a greater positive effect on green technology innovation in small-scale enterprises. Digital financial development can better promote green technology innovation in regions with higher pollutant emission intensity and where local government has stronger governance capacity. In addition, manufacturing and nonstate economic development help to better exploit the green technology innovation effect of digital finance. (3) With the improvement of environmental decentralization, digital finance strongly promotes green technology innovation, indicating that the downward trend of environmental responsibility will better alleviate the mismatch between the supply and demand of green innovation investments. In order to strengthen enterprises' green technology innovation capacity and solve serious environmental pollution problems, it is suggested that traditional financial institutions should actively embrace this digital trend. Meanwhile, government should develop differentiated innovation incentive policies to increase the technological innovation investment of manufacturing and private enterprises while also promoting the reform of the environmental decentralization system and strengthening supervision of central environmental protections.

The Correlation Analysis Between Financial Subsidy and Research and Development Investment of High-Tech Enterprises Under 6G Environment

In order to improve the competitiveness of high-tech enterprises, the investment in scientific and technological innovation of Chinese high-tech enterprises has been gradually improved. Therefore, the correlation between financial subsidies and research and development investment of high-tech enterprises is analyzed in 6G environment. The incentive form can promote the research and development investment of enterprises and improve the economic benefits of enterprises. Through the research on the relationship between the incentive of senior executives’ shareholding, the allocation of senior executives and the relationship between research and development investment and financial subsidy, the paper analyzes the incentive intensity and the relationship between incentive period and research and development investment. After using the correlation and regression analysis, we can see that incentive can promote research and development investment and strengthen the correlation between research and development investment and financial subsidy.

A Game-Theoretic Approach for CSR Emergency Medical Supply Chain during COVID-19 Crisis

The COVID-19 pandemic has caused high fluctuations in the demand for medical supplies. Therefore, emergency medical supplies enterprises have faced challenges in decision making and need to consider more corporate social responsibility (CSR) in production. At the same time, the government needs to take considerable measures to support emergency medical supplies enterprises. As such, our paper researches the decision and coordination problems for emergency medical supply chain considering CSR with the government, manufacturer, and retailer. The manufacturer produces emergency medical supplies. It has additional production technological innovation efforts to improve supply efficiency and assume CSR. The retailer faces uncertain demands and is responsible for undertaking CSR to meet the demands. The government must implement a certain degree of subsidies to ease the impact of the pandemic on emergency medical supply chain enterprises. Meanwhile, our paper further explores the obligations of the economy, society, and efficiency of enterprises under the COVID-19 pandemic and the decision making of enterprises for the implementation of CSR. Based on the principle of maximizing social welfare, we discuss decentralized decision making (without government and with government) and centralized decision making, respectively. On this basis, our paper not only designs a wholesale price–cost sharing joint contract coordination mechanism but also proves that a joint contract can achieve supply chain coordination under certain conditions. Through the analysis, we observe: (1) Government subsidies can improve the enthusiasm of supply chain members to undertake CSR; (2) With the improvement of the retailer’s CSR level, the profits of supply chain members and overall performance have improved to a certain degree; (3) To improve supply efficiency and assume social responsibility, the manufacturer implements technological innovation investment. However, it will impose some burden on the manufacturer. Government subsidies allow the manufacturer to balance between social responsibility and its profit.

Dilemmas of R&D investment risks and sustainability in the clean-tech economy: Evidence from Nasdaq clean edge index components

ABSTRACT Clean energy companies often require more costly investment in technology innovation than traditional energy companies, which poses higher technological risks. Therefore, many inconclusive debates have arisen concerning whether the R&D investment can generate sustained returns for such companies. This paper adopts progressive modeling steps to address the problem by using a modified Cobb-Douglas production function, System Generalized Method of Moments (SYS-GMM) approach, and fixed-effect panel threshold model. The role of R&D investment; the non-linear relationship between revenue, innovation, efficiency, and risk; as well as the corresponding threshold effects in clean and traditional energy companies are analyzed. 840 firm-year observations of clean energy companies from the NASDAQ Clean Edge Index are collected and screened, and compared with 280 firm-year observations of listed traditional energy companies in the U.S. Moreover, four types of clean energy companies, comprising green energy, wind power, water, and smart grid companies, are calculated and summarized separately. The results show that, for clean energy companies, long-term R&D intensity is beneficial to returns, shortening the cash conversion cycle (CCC) value, and reducing the financial leverage can produce a positive effect on return on assets (ROA), while different types of clean energy companies are advised with tailor-made portfolio strategies. For traditional energy companies, controlling the financial leverage while properly increasing CCC can help improve their ROAs. In this context, policy recommendations are provided for stakeholders to optimize their investment strategies in various clean and traditional energy enterprises according to the time-lag effect and threshold effect.

Assessing the impact of technological innovation on environmental and financial performance of Chinese textile manufacturing companies

As the leader of green technological advancement, China has implemented policies and strategies for companies to use green technological innovations in their production line. Earlier studies focused on the investment in technological innovation, innovation-driven policies, and the relationship between competitiveness and technological innovation. There is a literature gap in examining the effect of technological innovation on environmental and financial performance for textile manufacturing companies listed in China. This study therefore seeks to address the literature gap by analysing the impact of technological innovation on environmental and financial performance for textile manufacturing companies listed in China. Panel data for 61 textile manufacturing companies from 1990 to 2020 was used for the empirical analysis. The authors utilised the generalised methods of moments (GMM) estimator. The findings from our study highlights how technological innovation is contributing to environmental and financial performance of firms.

Research on the Influence of Real Estate Investment on Industrial Enterprise Innovation

Inovation is the source power of enterprise development. In recent years, under the double squeeze of overcapacity and insufficient consumption, the phenomenon of industrial enterprises keen on real estate investment has become increasingly prominent. Based on Shanghai and Shenzhen two city industry listed companies in 2012-2021 data sets, using fixed effect model to estimate and mixed regression model to the regression analysis found that the enterprise of real estate investment will form apparent extrusion, the resources available to the enterprise, in turn, the impact of risk degree of stability of the enterprise, is not conducive to enterprise's own technology innovation investment. At the same time, using the proportion of academic directors among independent directors as a moderating variable, it is found that academic independent directors can inhibit industrial enterprises from investing in real estate.

Understand technological innovation investment performance: Evolution of industry-university-research cooperation for technological innovation of lithium-ion storage battery in China

The evolution characteristics of the core network of the patent collaboration network in the field of lithium battery storage are compared with other fields such as phase change materials (PCMs) and the overall storage field in China by using the data from the Patsnap. Based on the trend of patent quantity, this paper chooses 2009 as the starting year to discuss the patent network in three stages: 2009–2012, 2013–2016, and 2017–2020. After 2009, new enterprises and institutions are more inclined to cooperate with institutions with high centrality when entering the energy storage field. Nodes with high centrality are mostly state-owned organizations or institutions with key technologies, which control network resources and influence network development. However, at the same time, the status of state-owned energy enterprises/institutions and universities in the cooperation network fluctuates, and they do not occupy an absolute leading position in the fields of lithium battery. The industry-university-research (IUR) cooperative network of lithium battery industry has the characteristics of tight internal node connection and sparse node connection among communities. On the whole, there is no continuous single (few) center (s) pattern in the three stages. This trend is contrary to previous studies on the overall field of energy storage. The different results got here maybe helpful for future IUR technology investment and decision-making.

Mediating Role of Change Capability in the Relationship Between Transformational Leadership and Organizational Performance: An Empirical Research.

BackgroundImproving organizational performance for firms in developing countries like Vietnam by huge investments in technological innovation is not feasible, because the majority of firms in these nations are small and medium size, with a lack of capital, resources, and R&D capabilities. Given the important role of change capability for organizational performance, the purpose of this paper is to investigate the impacts of transformational leadership (TL) on organizational performance via the mediating role of organizational change capability in cases of Vietnamese enterprise.MethodsBased on the cross-sectional design method and empirical data, this study applied analysis of moment structures (AMOS) and structural equation modeling (SEM) to inspect the link between the latent variables in the proposal research model through the empirical data gathered from 302 participators in 125 Vietnamese firms.ResultsThe findings of this study show the significant and positive influences of TL on organizational change capability and organizational performance. Importantly, organizational change capability significantly mediates the influence of TL on operational and financial performance.ConclusionThis study contributes to filling the gaps in the literature and advancing the insights of how TL fosters specific aspects of change capability for improving two crucial components of organizational performance, namely operational and financial performance.

A non-convex metafrontier DEA model with natural and managerial disposability for pollutant tax levels and environmental efficiencies analysis

Efficiency analysis is an important step in the environmental performance evaluation research, especially in the context of the implementation of the Environmental Protection Tax Law in China. In this paper, we first consider regional heterogeneity and divide regions into high, medium, and low-cost groups based on pollution tax levels. Then, we construct a non-convex metafrontier Data Envelopment Analysis (DEA) model that can solve the heterogeneity problem well and measure the environmental efficiency of each region. In addition to considering natural disposability, we further discuss managerial disposability here. The empirical results show the difference between the efficiency and the benchmark test based on the convex or non-convex metafrontier assumption. Besides, middle and low-cost groups are encouraged to increasing environmental protection expenditure under managerial disposability. Finally, we summarize the improvement methods of provincial administrative regions under different tax rates: high-cost groups develop a green environmental economy and control pollution emissions; middle-level groups optimize industrial structure and increase investment in technological innovation; the low-tax groups increase the tax on pollutants and strengthen government control.

Resource curse and green economic growth

The implementation period of the “Sustainable Development Plan of Resource-based Cities in China (2013–2020)” is drawing to a close. Objective evaluation of the effect of the policy is of great theoretical and practical significance for China's resource-based cities in their quest to transform their economic development models and realize sustainable development. However, there are few literatures to analyze the resource curse phenomenon from the perspective of policy evaluation. In this paper, the panel data of 285 cities in China from 2003 to 2018 are used to empirically analyze the impact of the plan on the green economic growth of resource-based cities by using the Difference-in-Differences (DID) method. The results show that after a series of robustness tests, the plan can significantly promote green economic growth in resource-based cities and effectively alleviate the “resource curse” phenomenon in these cities. In addition, this paper also explores the transmission mechanism of the plan to promote urban green economic growth. The study shows that the plan significantly improves the green economic efficiency of resource-based cities by increasing investment in scientific and technological innovation, promoting the development of the manufacturing industry, improving system quality and strengthening environmental regulations. Therefore, the development of resource-based cities of the future can better avoid the “resource curse” and achieve sustainable development if their rich resource advantages can be used to focus on scientific and technological innovation, increases in investment in the manufacturing industry and improvements in system quality and environmental regulation.

The Impact of Public-Private Partnership Investment in Energy and Technological Innovation on Ecological Footprint: The Case of Pakistan

This novel research looked into the role of public-private partnership investment in energy in affecting Pakistan’s long-term environmental sustainability. Employing time series data from 1992 to 2018 and utilizing the autoregressive distributive lag model (ARDL) model, we found a long-term equilibrium association of ecological footprint with public-private partnership investment in energy, technological innovation, economic growth, and trade openness. Our outcomes showed a significant positive association between public-private partnership investment in energy and ecological footprint in the long-run and the short-run, specifying that the increase in public-private partnership investment in energy affects the environmental sustainability of Pakistan. Similarly, our study confirmed that technological innovation, economic growth, and trade openness increase the ecological footprint in Pakistan. It demonstrates that these factors are unfavorable to the sustainable environment in Pakistan. Furthermore, robustness check findings are analogous to the results of ARDL estimates, utilizing dynamic ordinary least squares and fully modified ordinary least squares. On the basis of the research conclusions, a multi-pronged sustainable development goal (SDG) model was proposed that addresses SDG 8 and SDG 13 while incorporating SDG 17 as a medium.

Temporal and spatial evolution and obstacle diagnosis of resource and environment carrying capacity in the Loess Plateau.

Natural resources are scarce in the Loess Plateau, and the ecological environment is fragile. Sustainable development requires special attention to resource and environmental carrying capacity (RECC). This study selected 24 representative cities in five natural areas of the Loess Plateau; used the entropy-weight-based TOPSIS method to evaluate and analyze the RECC of each city and region from 2013 to 2018; established a diagnosis model to identify the obstacle factors restricting the improvement of RECC; and constructed the theoretical framework of the RECC system mechanism. The results show that the RECC of the Loess Plateau is increasing in general but is relatively small. The environmental and social subsystems have the highest and lowest carrying capacities, respectively. There is an evident contradiction between economic development and the environment. Population density, investment in technological innovation, per capita sown area, and per capita water resources are the main obstacles affecting the improvement of RECC in the Loess Plateau. Such evaluations and diagnoses can support ecological civilization and sustainable development.

Research on the Impact of Government Investment on Enterprise R&D Innovation——Based on the Mediation Effect Model

Although government procurement is used as a demand-side innovation policy tool in many countries, how government procurement affects corporate technological innovation is still controversial, and its mechanism has not been empirically tested. The research in this paper finds that, from the perspective of enterprises, government procurement should be measured from the scale of government procurement contracts obtained by enterprises and the degree of support from government purchasers. The scale of procurement contracts obtained by enterprises and the degree of support obtained by enterprises from purchasers have an impact on the input and output of enterprise technological innovation. It has a significant positive role in promoting, and technological innovation investment plays an intermediary role in it.

Review of transition paths for coal-fired power plants

The energy sector has an essential role in limiting the global average temperature increase to below 2 °C. Redirecting and advancing technological progress contribute to carbon-free transition solutions. Energy transition is currently one of the most debated issues in the world. This paper reviews and summarizes the current policy projections and their assumptions organized by some major countries in the energy sector, particularly in the coal sector, and provides a detailed discussion on specific and significant socio-technical pathways taken by countries to achieve zero-carbon targets. Their implementation involves restructuring the existing energy system and requires appropriate policy support and sufficient investment in infrastructure development and technological innovation. Some basic principles and countermeasures that have already been implemented by some major emitters, such as India and China, are also discussed, with different transformation pathways. Critical suggestions are also provided, such as implementing best practice policies at the national level, moving to more efficient transition strategies, national and regional cooperation, cross-border energy grid integration, and private sector involvement to reduce carbon emissions from coal-fired power plants, not only by reducing coal consumption but also by introducing various low carbon technologies.

The Complexity of Technological Innovation Decision-Making in Emerging Industries

It is well known that innovation-driven emerging industries have gradually become the main driving force of global economic recovery and growth. Technological innovation decision-making is a complex and dynamic system, which is affected by various factors inside and outside an enterprise. In this dynamic system, how to make the optimal technological innovation investment decisions is a key concern for enterprises and governments. As an investment activity, technological innovation largely depends on the amount of external financing obtained by enterprises. However, financial constraints have increasingly become an obstacle to enterprises’ technological innovation. At the same time, technological innovation is also affected by the external political and economic environment, such as changes in economic policy, government subsidy policies, and institutional environmental policies. Can these external environments reduce the negative impact of financing constraints on technological innovation? In this study, based on the data of listed companies in China’s strategic emerging industries, we adopt a panel negative binomial regression model to investigate the complexity of technological innovation decision-making from the perspective of financing constraints. Our main findings include the following. First, financing constraints significantly inhibit the input and output of technological innovation in emerging industries. Second, the inhibition effect on the output of substantive innovations is more pronounced than that on the output of strategic innovations. Third, based on the analysis of enterprise heterogeneity in different dimensions, we show that this inhibition has a selective effect among different industries. Finally, we show that economic policy and marketization can help alleviate the inhibition effect of financing constraints on technological innovation.

Imposing versus Enacting Commitments for the Long‐Term Energy Transition: Perspectives from the Firm

Imposing versus Enacting Commitments for the Long‐Term Energy Transition: Perspectives from the Firm

Coupling and coordination of socioeconomic and ecological environment in Wenchuan earthquake disaster areas: Case study of severely affected counties in southwestern China

The Chinese government established a counterpart support mechanism and ecological civilization construction to promote socioeconomic development and ecological protection after the Wenchuan earthquake. However, the contradiction between the ecological environment and socioeconomic is still has not changed fundamentally. How to coordinate the relationship between the socioeconomic and ecological environment in the disaster area has become a key issue to the sustainable development after the Wenchuan earthquake. The purpose of this paper is to research the coupling and coordination relationship between socioeconomic and ecological environment to provide reference for Wenchuan earthquake disaster area to achieve regional sustainable development goals (SDGs) and high-quality development. Based on this, the dynamic deviation maximization (DM) method and coupling coordination model (CCD) were used to calculate the indicator weight and the overall coordination relationship between socioeconomic (SE) and ecological environment (EE) in Wenchuan earthquake disaster area by using the data from 2005 to 2018. The results showed that the CCD of the Wenchuan earthquake disaster area has increased from 2005 to 2018. From the spatial characteristics, the comprehensive evaluation score of CCD decreased from northeast to southwest in the disaster area, and there is still a significant spatial difference in the disaster area. Besides, the interesting finding is that post-disaster reconstruction and recovery capacity are closely related to location factors, population factors and altitude factors. On this basis, the causes of regional differences are analyzed, and some corresponding concrete suggestions are proposed, involving strengthen the policies to prevent labor loss, expand the characteristic industries of each country according to local conditions, and increase investment in technological innovation.