Mechanism Of Technological Innovation Research Articles

Research on the path of technological innovation and resource allocation optimization of state-owned enterprises from the perspective of ecological environment and biomechanics

In the evolving global landscape, competition among nations has increasingly centered on the allocation of innovation resources, which are crucial for enterprises to implement development strategies under supply-side reforms. The efficiency and rationality of resource allocation directly affect the innovation capacity and operational performance of enterprises. This paper examines the relationship between technological innovation and resource allocation in state-owned enterprises through the lens of the ecological environment, employing data from multiple sources and utilizing the Data Envelopment Analysis (DEA) model to assess resource allocation efficiency. The study reveals that the proportion of R&D personnel invested in enterprises in China increased significantly from 46.35% to 73.38%, while the proportion in research institutions and universities declined to 11.48% and 11.36%, respectively. These shifts underscore the growing dominance of state-owned enterprises in driving technological innovation. The findings highlight that aligning technological innovation mechanisms with ecological sustainability not only enhances innovation capabilities and competitiveness but also accelerates industrial development and contributes to the sustainable growth of the national economy.

Impact of Digital Economy on Carbon Emissions and Its Mechanism: Evidence from China

Advancing the digital economy while curbing carbon emissions is essential for fostering high-quality economic growth. Based on China’s provincial panel data from 2011 to 2021, this study adopts an empirical model to investigate the direct influence of digital economic development on carbon emissions and utilizes both a mediating effects model and a moderating effects model to explore the transmission mechanism of green technological innovation and the moderating effect of R&D investment. The research results indicate that the following: (1) The digital economy contributes to carbon emissions reduction. (2) The analysis of heterogeneity demonstrates that the impact of the digital economy on carbon emissions is pronounced in the eastern and central regions of China but is insignificant in the western provinces. Furthermore, the carbon mitigation effect of the digital economy is more potent in regions with high marketization compared to those with low marketization. (3) The mediation effect analysis shows that green technology innovation plays a transmitting role between the digital economy and carbon emissions reduction. (4) The moderating effect test reveals that R&D investment enhances the digital economy’s ability to reduce carbon emissions. The conclusions highlight the need to optimize digital economy development and strengthen green technology innovation to achieve carbon emissions reduction.

Financial Service and Performance of Chinese Private Companies: The Mediating Role of Technological Innovation

Financial performance is one of the key essential elements of financial management. Therefore, this research is to investigate the effects of financial service on the financial performance of private listed firms in China and looks at how firm technological innovation plays a mediating role in this relationship. This study includes 4,635 private listed companies in China from 2013 to 2022 and adopts a robust fixed effects model for benchmark regression. In the robustness test, two-stage least squares, alternative proxies and time segmentation are used to back up the findings. It is found that financial service is significantly and positively related to firm financial performance. Moreover, there is a potential mediating mechanism of corporate technological innovation along this path of the influence of financial service on firm financial performance. The findings provide empirical evidence for private firms and related groups such as policymakers in China.

Exploring the impact of sustainable finance on carbon emissions: Policy implications and interactions with low-carbon energy transition from China

With the increasing attention to environmental degradation and sustainable development goals, the low-carbon energy transition has emerged as a focal point in both academic and political realms. This research examines, under the framework of the Environmental Kuznets Curve, the impact of low-carbon energy transition, natural resource rents, and economic growth on environmental performance. Additionally, it delves into the regulatory role of green finance and transition finance in the nexus between low-carbon energy transition and environmental performance. The research findings reveal that the influence of low-carbon energy transition, economic growth, and natural resource rents on environmental performance exhibits distinct regional heterogeneity. The research also verifies the premise that the Environmental Kuznets Curve exists exclusively in the eastern area of China. Further investigation indicates that sustainable finance plays a crucial regulatory role in the relationship between low-carbon energy transition and environmental performance. According to these results, the paper suggests that provinces should establish dual environmental and economic goals and optimize financial policy design. Moreover, governments and enterprises should achieve sustainable development goals through means such as technological innovation, regulatory frameworks, and market mechanisms.

Can product specialization improve the internationalization level of enterprises? Empirical evidence from “SRDI” enterprises

AbstractCultivating “SRDI” (abbreviation for “Specialized,” “Refinement,” “Differential,” and “Innovation”) enterprises can help solve the current “bottleneck” problems faced by China, enhance the stability and competitiveness of the industrial chain and supply chain, and promote high‐quality economic development. Using the “SRDI” enterprises listed in Shanghai and Shenzhen A‐shares in 2011–2021 as samples, this paper empirically tests the effect of product specialization on the internationalization level of “SRDI” enterprises. The results show that the product specialization of “SRDI” enterprises can significantly improve their internationalization level. Heterogeneity analysis shows that under the conditions of executives with overseas experience, a low degree of financing constraint, and fierce competition in the product market, the product specialization of “SRDI” enterprises has a more significant effect on improving their internationalization level. Therefore, China's “SRDI” enterprises should focus on the core business, give full play to the advantages of specialized operation, actively promote the internationalization strategy, and attach importance to the internal training and external recruitment of overseas executives. Governments at all levels should improve the policy support system, strengthen the incentive mechanism of scientific and technological innovation, and alleviate the financing constraints of “SRDI” enterprises.

How Does Foreign Capital Impact Urban Green Development? Evidence from Central China

Background: Foreign capital, a significant component of the contemporary export-oriented economy, helps to solve ecological and environmental issues and encourages the green transformation of urban development techniques. This study develops an assessment framework for urban green development using panel data from 80 cities in Central China between 2007 and 2022. Simultaneously, the impact of foreign capital on urban green development was tested through the mechanism of green technological innovation using the panel mediating effect model, and the impact of economic development level on the impact of foreign capital on the same was tested using the threshold effect model. The primary research findings are as follows: (1) Foreign capital has greatly enhanced urban green development in Central China; (2) Green technology innovation acts as a major mediating variable in the process by which foreign capital influences urban green development; (3) Economic development has a single threshold effect on foreign capital influencing urban green development. This article suggests that the government focus more on the prudent use of foreign capital in light of the findings above. The study's findings offer an empirical foundation for more effectively encouraging urban green development as well as some theoretical direction for the long-term growth of human society in underdeveloped nations or areas. Objective: The objective of this study is to explore the key factors affecting urban green development in Central China, including the direct impact of foreign capital, the mediating effect of green technology innovation and the threshold effect of economic development, with the aim of improving urban green development in Central China. Theoretical Framework: This study mainly refers to Sustainable Development Theory and Schumpeterian Innovation Theory. Because urban green development belongs to the category of sustainable development, and the mediating analysis in this article is consistent with Schumpeterian Innovation Theory. Method: The entropy method is used to measure the degree of urban green development. Baseline regression is used to analyze the direct impact of foreign capital on urban green development. The mediating model is used to analyze the mediating role of green technology innovation in the impact of foreign capital on urban green development. The threshold model is used to analyze the threshold effect of economic development on foreign capital in affecting urban green development. Results and Discussion: The results confirmed the hypothesis. First, foreign capital has a positive impact on urban green development. Second, green technology innovation plays a mediating role in the process of foreign capital affecting urban green development. Third, economic development plays a single threshold effect in the process of green technology innovation affecting urban green development.However, this study still has certain limitations. Because there are certain differences between official statistics and reality, and the indicators selected in this article are limited, they cannot fully reflect the actual results. Research Implications: The practical and theoretical implications of this research are discussed, providing new ideas for urban green development in Central China from the perspective of foreign capital. And the role of green technology innovation and economic development cannot be ignored. This is not only in line with the world theme of green and sustainable development, but also conducive to accelerating the internationalization process of Central China. And this research also provides theoretical support for green development in developing countries or regions. Originality/Value: This study contributes to the literature by being based on official data from the National Bureau of Statistics of China and using a series of recognized empirical methods to study Central China's urban green development and key influencing factors. The value of this article is that it not only enriches the research on urban green development in Central China. It also provides a reference for green development and international development in other developing regions in China and other developing countries or regions around the world.

Corporate governance, technological innovation, and corporate performance: Evidence from China

Corporate governance plays an important role in achieving high-quality economic development and sustainable corporate development. In recent years, as listed companies face increasing challenges in social responsibility issues such as environmental pollution and financial fraud, corporate governance has received widespread attention from academics and practitioners. In particular, technological innovation has attracted much attention to the development of enterprises. This paper also explores the intermediary mechanism of technological innovation based on the output measurement method of technological innovation. This study selected data from companies listed on the A-share main board of the Shanghai and Shenzhen Stock Exchanges in China from 2012 to 2022, aiming to explore the relationship between corporate governance and corporate performance. At the same time, we further analyzed the impact of corporate governance on corporate performance based on the mediating role of technological innovation. The research results show that equity balance degree, board size, and executive incentives all have a positive impact on corporate performance. Technological innovation has a certain mediating effect on independent variables (equity balance degree, board size, and executive incentives) and corporate performance. This study clarifies the controversy about the relationship between corporate governance and corporate performance and deepens the understanding of this relationship. It also provides empirical support for listed companies to pay attention to and improve corporate governance levels and enhance innovation capabilities. By exploring the interplay between governance mechanisms, innovation processes, and performance outcomes, researchers can gain a deeper understanding of how organizations can leverage governance practices to drive innovation-led growth and sustainable success.

Digital inclusive finance, green technological innovation, and carbon emissions from a spatial perspective

Based on the panel data of 276 prefecture-level cities in China from 2011 to 2020, this study explores the impact of digital inclusive finance (DIF) on carbon emissions and the intrinsic mechanism of green technological innovation from a spatial perspective by constructing a spatial econometric model, a mediating effect model, and a threshold model. The results show that DIF significantly inhibits carbon emissions, exhibiting a spatial spillover effect. The transmission mechanism from a spatial perspective shows that green technological innovation plays a partial mediating role between DIF and carbon emissions, with the mediating effect accounting for approximately 59.47%. The heterogeneity analysis suggests that the impact of DIF on the reduction of carbon emissions is more pronounced in large and medium-sized cities and eastern regions. Further discussion reveals that the carbon reduction effect of DIF is also influenced by green technological innovation and industrial structure upgrading, showing threshold effects with marginal decreases and gradual increases, respectively.

The Effects of Urbanization on Urban Land Green Use Efficiency of Yangtze River Delta Urban Agglomeration: Mechanism from the Technological Innovation

It is urgent and essential to explore the facilitating mechanism of urban land green use efficiency (ULGUE) in promoting the coordinated development of humans and land. In this study, the SBM-DEA model was used to measure ULGUE from 26 cities across the Yangtze River Delta Urban Agglomeration (YRDUA) in China from 2006 to 2019. Desired (eco-friendly) outputs and undesired (non-eco-friendly) green outputs were considered in the selection of ULGUE indicators. This study explored the impact of the mechanism of green, digital, and transportation technological innovation on ULGUE in the process of urbanization by the mediation model. The results showed that urbanization has a positive effect on ULGUE and technological innovation, and for every 1% increase in urbanization, ULGUE increases by 0.048%. The results are still significant after robustness tests. The findings suggest that the improvement of social and economic benefits brought by urbanization in the YRDUA is greater than its negative impact. A mechanistic analysis showed that green, digital, and transportation technological innovation can amplify the positive impact by curbing the growth of energy consumption and alleviating pollution. Therefore, the government should promote ULGUE with technological innovation, construct an ULGUE assessment mechanism, incorporate the promotion of green land use into the planning of targets and incentives for technological innovation, and promote the efficient use of land.

Unlocking the carbon emission efficiency improvement path of technological innovation: a perspective on industrial restructuring and R&D element flows.

Technological innovation is regarded as an important means to improve carbon efficiency. However, there is no consensus on this view. Meanwhile, few studies have considered how technological innovation affects carbon efficiency. To this end, this study investigates the influencing mechanism and effects of technological innovation on carbon emission efficiency from the perspectives of industrial restructuring and R&D element flow. It establishes the influencing and mechanism model and then deeply studies the impact and paths of technological innovation on carbon emission efficiency, using panel data from 30 provinces in 1999-2020. Results show that (1) technological innovation improves carbon emission efficiency. (2) Regional differences in the impact effects of technological innovation are evident, with a greater contribution to carbon emission efficiency in eastern region. (3) Innovation improves carbon efficiency through two paths: advanced industrial structure and industrial structure rationalization. (4) The moderating effect demonstrates that the technological innovation's influence is gradually enhanced with the interregional mobility of R&D personnel and capital. Hence, decision-makers should correctly guide the orderly flow of R&D factors and further improve the carbon emission reduction effect by increasing innovation support and helping optimize the industrial structure.

Research on the impact mechanism of scientific and technological innovation on the high-quality development of the marine economy

Promoting the high-quality development of the marine economy is an inevitable choice for building a maritime power, and technological innovation can provide strong impetus for the high-quality development of the marine economy. Therefore, it is urgent to clarify the impact mechanism of technological innovation on the high-quality development of the marine economy, and promote the high-quality development of the marine economy. This study employs panel data from 11 coastal provinces and municipalities (autonomous regions) in China, spanning the years 2006 to 2020. The objective is to empirically evaluate the mechanism through which scientific and technical innovation impacts the high-quality development of the marine economy. This is achieved by utilizing the PVAR model and the mediation effect model. The research findings indicate that there is a noteworthy impact of enhancing scientific and technological innovation on the marine economy of China. Moreover, there exists a significant reciprocal relationship between scientific and technological innovation and the pursuit of high-quality development in the marine economy. It is observed that scientific and technological innovation not only has a positive influence on the high-quality development of the marine economy by enhancing green total factor productivity and optimizing the industrial structure, but it also facilitates the advancement of the marine economy through the chain mediation path of “improving green total factor productivity and optimizing industrial structure”.

The dynamic mechanism of scientific and technological innovation in China’s marine biomedical industry

As one of the important forces promoting the development of the marine economy, the marine biomedical industry (MBI) shows typical knowledge and technology-intensive characteristics. It is of great significance to explore the industrial innovation dynamic mechanism for breaking through the bottleneck of innovative development as well as achieving high-quality development. This paper constructed a system dynamics model for scientific and technological innovation (STI) in the MBI and then explored the dynamic mechanism of STI in the industry through simulation. The study found that, in the innovation environment subsystem, the two factors of the intellectual property protection intensity and the government’s scientific research funding input had the most significant positive driving effects on STI of the MBI; the promotion of government education funding input showed a significant strengthening trend over time, while the marine environmental regulation intensity had comparatively little effect on the level of STI. In the subsystem of innovation input, both innovation funding input and innovation personnel input were the direct driving forces for the improvement of the STI level. And enterprises played a dominant role in STI because the STI level of the MBI was more sensitive to the changes in enterprise innovation input. Compared with the individual factor input, the synergistic promotion effect of multiple factors is more significant. In addition, it was found that there was a low conversion rate of scientific research achievements in China’s MBI by analyzing the influence of various factors changing on technological output and economic output. Based on the research results, this paper puts forward corresponding policy suggestions in order to provide theoretical support and a practical basis for promoting the technological innovation level of China’s MBI as well as references for other countries.

Reinforcing green business strategies with Industry 4.0 and governance towards sustainability: Natural‐resource‐based view and dynamic capability

AbstractThe study explores the influence of contextual factors surrounding production planning and green strategic investment decision‐making practices (GSIDMP) in UK companies. We utilize a mixed‐method approach as a research methodology to study the current trend of production planning and GSIDMP. This study's conceptual model is rooted conspicuously in the resource‐based theory (RBT), natural‐resource‐based view, and dynamic capabilities. We empirically examine the nexus among GSIDMP, technological innovation, dynamic capability, and companies' performance. Our study was based on a sample selected from UK‐listed companies, FTSE ALL‐Share Index for the period (2012–2021). Also, the study utilizes data from the UK Innovation Survey (2018–2020) and corporate disclosure through companies' annual reports as a complementary approach for data collection. Findings of this study explore the interdependencies among company dynamic capability, advanced technological innovation and governance mechanisms, and their mediation influence on the nexus between GSIDMP and companies' performance. This study sheds lights on current business innovation strategies. Findings reveal how current practices of production planning and GSIDM in large UK companies shaped by boardrooms absorptive and adaptive capabilities, knowledge‐generating and knowledge‐collaboration capabilities, technological adoption, and corporate governance mechanisms. This study offers insight regarding boardrooms proactive engagement in exploration and exploitation activities to strengthen ambidexterity through various innovation trajectories associated with green production and GSIDMP towards sustainability. We provide managerial implications for decision‐makers, regulators, investors, scholars, and other stakeholders.

Discussion on financial technology innovation and regulatory mechanism in the digital economy environment

Discussion on financial technology innovation and regulatory mechanism in the digital economy environment

Environmental insurance and green productivity: A firm-level evidence from China

Green transformation is currently a major challenge for both developed and developing economies, while the role of environmental insurance (EI) in green productivity in developing economies remains unclear. Using firm-level data from Chinese A-shape listed companies, this study investigates the relationship between EI on green total factor productivity (GTFP) along the period 2010–2019. To do so, a slack-based measurement model integrated with Global Malmquist-Luenberger approach (SBM-GML) is applied in GTFP calculation, and then a time-varying difference-in-difference (DID) setup is employed for empirical analysis, as well as its combination with propensity score matching method (PSM-DID) to overcome the sample self-selection bias. We find that EI significantly promotes firm's GTFP by about 0.22 units, which is mainly driven by the improvement of technical efficiency rather than technological progress. Further analysis exploring channels suggests that EI promotes GTFP by alleviating financing constraints and stimulating green innovation. However, the heterogeneity analysis shows that both financing constraint mechanism and technological innovation mechanism are mainly observed in heavily polluting and non-state-owned enterprises (non-SOEs). Our findings provide a new insight for policy-makers that utilizing environmental insurance can promote green productivity, but which should be focused more on those enterprises who are difficult to absorb external financing and technological innovation resources.

Effect of digital finance on inclusive green growth through technological innovation

ABSTRACT Inclusive green growth is crucial for sustainable economic development. Through subjective and objective comprehensive evaluation methods, this study measures the level of inclusive green growth for 30 provinces in China from 2011 to 2019. On this basis, the study uses multiple empirical methods to analyze the effect of digital finance on inclusive green growth. The results reveal that digital finance significantly promotes inclusive green growth through the mechanism of technological innovation. In addition, the threshold regression model indicates that digital finance has a marginally increasing effect under single threshold constraints of its development level and coverage breadth. However, digital finance has a marginally decreasing effect under the single threshold constraint of traditional finance development level. Finally, a heterogeneity test indicates that digital finance significantly promotes inclusive green growth in regions with low per capita GDP, those with a high agricultural GDP percentage, and central and western regions.

The role of renewable energy investment and energy resource endowment in the evolution of carbon emission efficiency: spatial effect and the mediating effect.

With climate change caused by massive greenhouse gas emissions emerging as an issue of global concern, it is urgent to improve carbon emission efficiency (CEE) for countries along the Belt and Road (BRI). Considering the resource endowment characteristics of green development in BRI countries, the super-efficiency slacks-based measure (SBM) model is adopted to evaluate the current status and tendency of CEE in 60 BRI countries, while the Global Malmquist-Luenberger (GML) index to quantify the spatial and temporal variation and dynamic evolution of CEE. Subsequently, from the perspective of energy development and utilization, the spatial Durbin model (SDM) and the mediating effect model are employed to empirically examine the spillover effects and driving mechanisms of renewable energy investment and energy resource endowment on CEE. Empirical results reveal that (1) from a static perspective, the CEE of BRI countries is generally poor and unevenly distributed in terms of temporal and spatial dimensions, with significant room for enhancement. (2) Referring to the dynamic level, the GML index featured a U-shaped fluctuation, with technological progress contributing to the improvement of CEE. (3) There is a significant positive effect of renewable energy investment on CEE in the home country and neighboring countries, while energy resource endowment presents a remarkable adverse correlation. Consequently, it is suggested that inter-regional cooperation among BRI countries should be strengthened to reinforce renewable energy investment, exert the technology and knowledge spillover effect sufficiently, and break the resource curse in the environmental field. (4) The mediating effect model confirms the significant mediating mechanism of technological innovation. Renewable energy investment can enhance the CEE of BRI members by promoting the positive mediating effect of technological innovation, while energy resource endowment can inhibit the local level of technological innovation and indirectly inhibit the CEE of BRI members. The findings provide new ideas on the green development and ecological sustainability of the energy industry in BRI members and other economies.

Financial Development and Environmental Pollution Control - An Analysis of Intermediary Effect Based on Technological Innovation

Abstract Based on the rapid development of green finance and the panel data of 30 provinces in China (excluding Tibet, Taiwan, Hong Kong and Macao) from 2007 to 2020, to deeply discuss the relationship between financial development (FD), technological innovation and environmental pollution (EP) control is the centre of this article by using panel fixed-effect and intermediary effect model. The influence of FD on EP is tested by building a benchmark regression model. In addition, the intermediary effect model is adopted to explore how FD affects EP control through technological innovation mechanism. The conclusions show that China’s FD can effectively promote regional EP control on the whole, and FD can improve EP through technological innovation mechanism, but there is significant regional heterogeneity: compared with high government intervention areas, FD can promote EP control through technological innovation in low government intervention areas. Therefore, it is suggested that all regions promote the construction of financial infrastructure, upgrade the level of regional financial marketisation, speed up the realisation of regional technological innovation and EP control. This work is conducive to the formulation of appropriate government policies to promote the improvement of the financial system and the establishment of innovative mechanisms, and the reasonable reduction of government intervention and the improvement of the efficiency of financial resource allocation based on the needs of financial market players.

The Impact of Carbon Emission Trading on Industrial Green Total Factor Productivity

The impact of carbon emission trading (ETS) has been widely investigated. In contrast to the existing studies, this article explores for the first time the theoretical relationship between the ETS and industrial green total factor productivity (IGTFP) and tests it empirically. Furthermore, the article investigates the mediating mechanisms and possible regional heterogeneity of the influence of the ETS on IGTFP. To this end, a time-varying difference-in-differences technique is employed, drawing on panel data of 276 cities in China from 2005 to 2019. The results show that the ETS significantly and robustly increases IGTFP in pilot regions. Green technological innovation and industrial structure have a significant mediating effect on the nexus of the ETS and IGTFP. However, there exists no mediating mechanism of general technological innovation. In addition, economic development and energy consumption positively moderate the effect of the ETS on IGTFP, and industrial dependence negatively moderates such an effect.

Digital economy and green total factor productivity-based on the empirical research on the resource-based cities.

Green economy is the core content of the high-quality economic development, and the digital economy is the new driving force to accelerate the realization of high-quality economic development. In this regard, this paper selects 248 resource-based cities in China from 2011 to 2019 as the research objects and uses the fixed effect model and mediation effect model to test the relationship between digital economy and regional green total factor productivity. We get the following conclusions: First, there is the nonlinear relationship between digital economy and regional green total factor productivity, and this relationship shows the inverted U-shape. Secondly, digital economy can influence regional green total factor productivity through the path transmission mechanism of regional technological innovation, industrial structure, and environmental regulation. Finally, the effect of digital economy on regional green total factor productivity is heterogeneous, especially in the eastern region and cities with high human capital level. Based on the digital economy, the findings of this paper provide theoretical basis and reference suggestions for promoting the green development of regional economy. The government should attach importance to regional green development, actively guide the digital economy to promote green development, accelerate the development of the digital economy, and achieve high-quality economic development finally.