The impact of industrial policy and its combinations on the innovation quality of wind power enterprises: A study from the perspective of financing modes

Wang, Xiaozhen; Liu, Shan; Tao, Ziyang; Cao, Qun

doi:10.1016/j.renene.2022.02.057

Cited by 25 publications

(6 citation statements)

References 43 publications

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“…In addition, the industrial policy had an effect on innovation. Wang et al [36] studied the industrial policy's effect on innovation, and the research was based on the wind-power enterprises. The results indicated that industrial policy would be beneficial to enterprise innovation.…”

Section: Industrial Policymentioning

confidence: 99%

“…Industrial policy has obvious resource effects and can allocate financial resources to fit the development needs of enterprises. Wang et al [36] found that enterprises supported by industry have a higher level of investment compared to those not supported by industrial policy. In terms of fiscal policy, industrial policy has a distinctive "supporting hand" role, and enterprises supported by industrial policy are able to receive more government subsidies.…”

Section: Industrial Policy and Firms' Cross-border Manda Decisionsmentioning

confidence: 99%

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Industrial Policy’s Effect on Cross-Border Mergers’ Decisions—Theoretical and Empirical Analysis

Chen

2022

Sustainability

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To explore the relationship between industrial policy and cross-border M&As in Chinese enterprises, the PSM method and a two-way fixed model were used. Using a sample of A-share listed companies during the period 2005–2019, we theoretically and empirically analyzed the mediating role of financial constraints and the moderating role of political connections between the companies. It was found that industrial policy has a significant positive effect on cross-border M&As and that firms’ financial constraints mediate the relationship between industrial policy and M&As. Political connections moderate the relationship between industrial policy and M&As. This study enriches the research on the relationship between industrial policy and firms’ M&A decisions from a micro perspective, and provides evidence of industrial policy promoting cross-border M&As through alleviating the financial constraints of the firms.

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Section: Industrial Policymentioning

confidence: 99%

Section: Industrial Policy and Firms' Cross-border Manda Decisionsmentioning

confidence: 99%

Industrial Policy’s Effect on Cross-Border Mergers’ Decisions—Theoretical and Empirical Analysis

Chen

2022

Sustainability

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“…Liu and Kokko 3 believed that the pricing policy would be one of the three major issues in the future development of wind power in China. In detail, relevant perspectives on enterprises are as follows: Wang et al 4 reported that the wind power industry policy has a positive impact on the innovation performance of enterprises and propose the implementation of a differentiated innovation‐driven policy. Hsiao et al 5 explored the transmission process from financing policies to enterprises and considered that there are some problems, such as positioning deviation of wind power R&D financing policies.…”

Section: Literature Reviewmentioning

confidence: 99%

Wind power policies in China: Development themes, evaluation, and recommendations

Jichang

Zhou

2022

Energy Science & Engineering

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The scale of wind power generation in China is increasing, and China has become the largest producer of wind power in the world. This is mainly due to government policy support, providing investors with sufficient incentive to invest. With the saturation of the market, the development of the wind power industry has encountered a bottleneck. Strengthening the market facilities will be the focus of the development of the wind power industry in China in the future. We collected wind power policies in China in the past 20 years, used a latent Dirichlet allocation theme model to find themes in the process of wind power policy continuation, and then constructed the policy modeling consistency index model to quantitatively evaluate the effects of these policies. Finally, we discuss the changes needed for China's wind power policy in the future. We suggest that to achieve the market-oriented construction goal of wind power in China, future policy needs to strengthen the importance of market allocation, optimize the business environment, and improve the efficiency of resource utilization.

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“…For instance, the development of credit and stock markets is not instrumental in innovation, unless at a certain threshold. Wang et al [13] identified the differential effect of various financial models on wind power industry policy and TIC, whereas internal financing inhibits the role of industry policy on TIC, and external financing does the reverse. Based on the upper echelon theory, Shouming et al [14] discovered that in the technology, media, and telecom (TMT) sector, the impact of executive team attention to innovation (TMTAI) on TIC activities is regulated by the characteristics of corporate governance.…”

Section: Tic-affecting Factorsmentioning

confidence: 99%

Venture Capital and Chinese Firms’ Technological Innovation Capability: Effective Evaluation and Mechanism Verification

Song

Jin

2022

Sustainability

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Making the financial industry a solider mainstay of the real economy is of great concern for China in the midst of economic reform. For China, leveraging venture capital (VC) to enhance a firm’s technological innovation capability (TIC) is an important means of actualising its innovation and development strategy, as well as a must-do to realise sustainable development. In this study, firms that went public from 2010 to 2020 on the A-stock market were used as samples to study the effects of VC on TIC and the relevant mechanism based on the difference-in-differences (DID) method. As research findings show, VC can improve TIC through the medium of the internal incentive and external constraint easing effects. The contributory role of VC in TIC varies with firm size, ownership, and industry type. A range of robustness tests, including the PSM, variable substitution, and instrumental variable methods, further strengthened the reliability of the conclusions. This study can enlighten policymakers on how to implement comprehensive resource factor market reform to build a favourable innovation environment that materialises the role of marketisation.

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The impact of industrial policy and its combinations on the innovation quality of wind power enterprises: A study from the perspective of financing modes

Cited by 25 publications

References 43 publications

Industrial Policy’s Effect on Cross-Border Mergers’ Decisions—Theoretical and Empirical Analysis

Industrial Policy’s Effect on Cross-Border Mergers’ Decisions—Theoretical and Empirical Analysis

Wind power policies in China: Development themes, evaluation, and recommendations

Venture Capital and Chinese Firms’ Technological Innovation Capability: Effective Evaluation and Mechanism Verification

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