Research On The Effect Of China’s Solar PV Industrial Policy On Enterprises’ Innovation Performance

As China’s economy shifts from a high-speed growth stage to a high-quality development stage,more and more scholars have begun to study the mechanism and effect of industrial policies on enterprises’ innovation.In the past ten years or more,driven by market demand and policy incentives,China’s solar PV industry has expanded rapidly,the market share of all links in the industrial chain has continued to expand,and the technical progress of the solar PV industry has continued to accelerate.From a micro-level perspective,however,there are still some problems in China’s solar PV enterprises,such as lack of basic innovation ability,large gaps in product quality compared with foreign advanced levels,and the ability to avoid risks is still weak.Whether a series of solar PV industrial policies implemented in China has effectively promoted the improvement of solar PV enterprises’ innovation capabilities remains to be discussed.After the "531 New Policy" in 2018,the central goal of China’s solar PV industrial policy has shifted from expanding the market to paying attention to the improvement of quality and efficiency.Therefore,discussing the effect of solar PV industrial policy on enterprises’innovation can not only test the effectiveness of China’s solar PV industrial policy from the perspective of enterprises’innovation,but also will provide highlights for the future formulation of China’s solar PV industrial policy,which has both theoretical and practical significance.This paper first reviews the innovation theory and related theories of industrial policies,and analyzes their applicability in China’s solar PV industry;then,based on the development process and policy evolution process of China’s solar PV industry and the phased characteristics of China’s solar PV industrial policy in different periods,it makes in-depth studies on the role of China’s solar PV industrial policy support for enterprises’innovation based on the three-dimensional framework of "supply-demand-environment",the intermediary effect of R&D investment in solar PV industrial policy on enterprises’innovation performance is discussed at the same time.Building on this model,the application volume of enterprises’ invention patent is used to measure the innovation performance of the enterprises,and the effectiveness of the solar PV industrial policy is quantified from three dimensions--policy content,policy form and policy intensity.The Negative Binomial Regression Model studies the impact mechanism and effect of China’s solar PV industrial policy on enterprises’ innovation performance from 2007 to 2018.Finally,based on the results of empirical analysis,corresponding policy recommendations are made.The results show that from 2007 to 2012,under in the context where the domestic market has not yet fully started,and the development of China’s solar PV industry mainly relies on foreign market demand,and the domestic solar PV industrial policy direction was mainly export-oriented and industrialized support,the solar PV industrial policy have no significant effect on enterprises’ innovation performance;from 2013 to 2018,under the situation of the domestic application market continued to expand,and the solar PV industry chain tend to improve,and the government policy direction was gradually changed to promote technological progress and promote the standardized and orderly development of the solar PV industry,the solar PV industrial policy has significantly promoted the innovation performance of enterprises,and enterprises’ R&D investment has played an intermediary role in this process;the results of the heterogeneity test of enterprises show that the solar PV industrial policy has different impacts on the enterprises of different natures of ownership and enterprises in different market environments.The positive effect of solar PV industrial policy on enterprises’ innovation performance is only reflected in private enterprises and enterprises in the central and eastern regions.Drawing on the results,policy recommendations are:the government should focus on the cultivation of the domestic market,increase the intensity of supply-side policy,expand the financing channels for private enterprises and improve the market environment in the western region.