| Title | Government subsidies, dual-credit policy, and enterprise performance: Empirical evidence from Chinese listed new energy vehicle companies |
|---|---|
| ID_Doc | 31109 |
| Authors | Pei, LL; Kong, H; Xu, YY |
| Title | Government subsidies, dual-credit policy, and enterprise performance: Empirical evidence from Chinese listed new energy vehicle companies |
| Year | 2023 |
| Published | Chinese Journal Of Population Resources And Environment, 21, 2 |
| Abstract | The development of the new energy vehicle industry has become a key force driving the goals of carbon peak and carbon neutralization. To better guide future strategies, this study investigates the dual impact of subsidy and dual-integral policies on the performance of new energy vehicle enterprises. This study first theorizes the influential mechanism according to the institutional-based approach and technical innovation theory, and then collects data from listed companies in the new energy vehicle industry from 2016 to 2020. The hypotheses are examined using a two-way fixed-effects model. The findings show that: (1) subsidy policies are can still improve enterprise performance, but not through green technology innovation; (2) the dual-credit policy can improve enterprise performance through green technology innovation; and (3) under current policy conditions, with subsidies declining annually, the interaction effects between the subsidy and dual-integral policies will also decrease. Thus, this study suggests that non-monetary industrial policy, represented by the dualcredit policy is a more effective alternative to government subsidies. |
| https://doi.org/10.1016/j.cjpre.2023.06.004 |
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