Research On The Impact Of Government Subsidies On Green Innovation Of New Energy Enterprises

Green innovation provides technical possibilities for realizing the sustainable development of economy and society,and provides an important guarantee for the development of low-carbon economy.As a dense area of green innovation,new energy industry is one of the "seven strategic emerging industries" focused on development in China,which provides fertile soil for green innovation.Since the 19 th National Congress of the Communist Party of China,new energy enterprises have been more and more inclined to carry out green technology innovation to form their core competitiveness,promote the adjustment of industrial structure in the industry,promote the transformation to green economy,and form the peak of development.Although the development of new energy industry has been paid more and more attention by the government,its development still faces many challenges,such as unstable cash flow,insufficient R &D investment,high innovation risk,insufficient power of technological innovation,etc.the above problems will limit the development of new energy industry and can not break through the existing development pattern.This means that it is necessary to clarify the impact of government subsidies on Green Innovation of new energy enterprises and the differential impact of different government subsidies on Green Innovation of new energy enterprises.This article first summarizes government subsidy methods and their impact on innovation activities,the implications of green innovation,influencing factors and metrics,and the impact of government subsidies on green innovation.Next,externality theory,signaling theory,market failure,government intervention,and Schumpeter’s innovation theory show the need for government subsidies for new energy industry subsidies.Finally,the green patent data and financial data of China’s A-share listed new energy companies from 2010 to 2020 are selected,and the OLS multiple regression method is used to establish a basic regression model for examining the impact of government subsidies on the green innovation of new energy companies.In addition,this paper describes the differences in the impact of different government subsidy methods on green innovation for new energy companies,as well as the heterogeneity research on the degree of financial development and the growth of enterprises.Through empirical research,it is found that in the field of new energy industry,government subsidies have the effect of improving the performance of green innovation,and this effect is more significant for non-state-owned enterprises;for different government subsidies,financial appropriation has the most important role in promoting green innovation of new energy enterprises.Obviously,the second is finance;in regions where financial development is relatively lagging,fiscal discounts can promote green innovation of new energy companies more than companies in regions with more developed financial markets;furthermore,in the new energy industry,the effect of promoting rebates on the green innovation performance of taxable high-growth companies was found to be more important than that of low-growth companies.In conclusion,this paper puts forward the following suggestions: the government should insist on subsidizing the new energy industry,especially focusing on and increasing support for its green innovation projects;the government should take care of the subsidy of non-state-owned enterprises;considering three subsidy methods There are different adaptations to the incentive effect of green innovation.For key support projects or enterprises,the government should provide financial appropriation support,supplemented by financial interest discounts and tax rebates;for new energy enterprises in areas with relatively lagging financial development,governments at all levels can choose more subsidy methods of financial interest discounts to support new energy enterprises.Green innovation activities of energy companies;and for high-growth new energy companies,governments at all levels can choose more tax rebate methods to give full play to the combined incentive effect of the three subsidy methods.