Green Process Innovation and Financial Performance in Emerging Economies: Moderating Effects of Absorptive Capacity and Green Subsidies
Green Process Innovation and Financial Performance in Emerging Economies: Moderating Effects of Absorptive Capacity and Green Subsidies
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新兴经济体的绿色流程创新和财务绩效：吸收能力和绿色补贴的调节作用
DOI：
10.1109/tem.2015.2507585
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发表时间：
2016-02
影响因子：
5.8
通讯作者：
Zhu Kevin Xiaoguo
中科院分区：
文献类型：
--
作者：
Xie Xuemei;Huo Jiage;Qi Guoyou;Zhu Kevin Xiaoguo
“绿色”是社会所向往的，但“绿色”是否值得尚不清楚。随着环境问题不断升级，这个问题对于制造业来说变得更加重要，特别是在新兴经济体。我们研究了绿色流程创新对制造业财务绩效的影响，重点关注政府补贴与行业自身吸收能力的调节作用。我们以二氧化硫排放量作为环境指标，利用中国28个环境问题严重且普遍认为政府补贴起到了作用的行业的十年面板数据建立了动态模型。结果表明，清洁技术和末端技术与行业层面的财务绩效呈正相关， 因此，“绿色”是值得的。此外，强大的吸收能力往往会增强这种关系，但令人惊讶的是，绿色补贴却削弱了这种关系。我们还发现清洁技术和堆尾技术之间的影响是不同的，这导致对这两种类型的技术及其采用有更细粒度的见解。我们的结论是，制造业可以通过利用其内部吸收能力从绿色流程创新中获得更多收益，而不是像人们普遍认为的那样依靠外部政府补贴。我们的研究结果为绿色流程创新的好处提供了更细致的见解，并为其他新兴经济体的绿色流程创新研究提供了启示。
Being “green” is socially, desirable, yet whether it pays to be “green” is unclear. This question has become more importanttomanufacturingindustriesasenvironmentalconcernsare escalating,particularlyinemergingeconomies.Weexaminetheeffects of green process innovation on the financial performance of manufacturing industries with a focus on the moderating effects of government subsidies versus industries’ own absorptive capability. Using sulfur dioxide emissions as an environmental index, we establish a dynamic model using ten years panel data from 28 industries in China where environmental concerns have been severeandgovernmentsubsidieshavebeencommonlybelievedtobe instrumental.Theresultsshowthatcleantechnologiesandend-ofpipetechnologiesarepositivelyrelatedtofinancialperformanceat the industry level, thus it pays to be “green.” Furthermore, strong absorptive capacity tends to enhance this relationship, but surprisingly green subsidies turn out to weaken this relationship. We also find the effects are different between clean technologies and end-of-pile technologies, which leads to finer grained insights into these two types of technologies and their adoption. We conclude that manufacturing industries can benefit more from green process innovation by leveraging their internal absorptive capability, as opposed to replying on external government subsidies as commonly believed. Our findings provide finer grained insights on the benefitsofgreen processinnovation,andshedlightonthestudyof green process innovation in other emerging economies.
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DOI：
10.1007/978-3-662-12069-9_4
发表时间：
2000
期刊：
Food Additives & Contaminants: Part B
影响因子：
--
作者：
R. Kemp;Keith Smith;G. Becher
通讯作者：
R. Kemp;Keith Smith;G. Becher
影响因子：
11.1
作者：
Fujii, Hidemichi;Managi, Shunsuke;Kaneko, Shinji
通讯作者：
Kaneko, Shinji
DOI：
10.1109/17.865906
发表时间：
2000
期刊：
IEEE Trans. Engineering Management
影响因子：
--
作者：
A. Presley;Joseph Sarkis;D. Liles
通讯作者：
A. Presley;Joseph Sarkis;D. Liles
影响因子：
6.1
作者：
F. Molina-Morales
通讯作者：
F. Molina-Morales
DOI：
10.2139/ssrn.1805765
发表时间：
2011-04
期刊：
ERN: Econometric Modeling in Microeconomics (Topic)
影响因子：
--
作者：
J. Horbach;C. Rammer;K. Rennings
通讯作者：
J. Horbach;C. Rammer;K. Rennings