TY - JOUR
T1 - The Technological Innovation Efficiency of China’s Renewable Energy Enterprises
T2 - An Estimation Based on a Three-Stage DEA Model
AU - Chen, Yuanyuan
AU - Song, Jung Hyun
N1 - Publisher Copyright:
© 2023 by the authors.
PY - 2023/4
Y1 - 2023/4
N2 - The advantages of clean, ecologically friendly, and renewable energy have drawn considerable attention from all nations in the world. The growth of the renewable energy industry has frequently been elevated to the status of national policy. By evaluating the technical innovation effectiveness of China’s renewable energy sector, the energy crisis may be alleviated, and the innovation potential of renewable energy can be boosted. At present, the research content of domestic renewable energy enterprises mainly adopts DEA and Cobb–Douglas production functions. Moreover, there is limited literature on the factors impacting efficiency, and most research results center on efficiency assessment. This study employs a three-step DEA method to determine the technological innovation efficiency for China’s A-share renewable energy firms from 2016 to 2020. To investigate the factors influencing technological innovation’s effectiveness, the panel Tobit model is then developed. In light of the empirical data, the main conclusions of this paper are as follows: First, despite a slow but steady improvement, Chinese renewable energy companies still need to increase their technological innovation efficiency. Pure technical efficiency is the main factor contributing to low innovation efficiency. Second, environmental laws such as reliance on global commerce, industrial structure, and local science and technology affect the innovation effectiveness of listed renewable energy enterprises. After excluding environmental factors, the comprehensive technical efficiency of listed renewable energy companies has decreased. Finally, the innovation and technological efficiency of renewable energy firms are positively impacted by government subsidies, top operational revenue, and enterprise scale.
AB - The advantages of clean, ecologically friendly, and renewable energy have drawn considerable attention from all nations in the world. The growth of the renewable energy industry has frequently been elevated to the status of national policy. By evaluating the technical innovation effectiveness of China’s renewable energy sector, the energy crisis may be alleviated, and the innovation potential of renewable energy can be boosted. At present, the research content of domestic renewable energy enterprises mainly adopts DEA and Cobb–Douglas production functions. Moreover, there is limited literature on the factors impacting efficiency, and most research results center on efficiency assessment. This study employs a three-step DEA method to determine the technological innovation efficiency for China’s A-share renewable energy firms from 2016 to 2020. To investigate the factors influencing technological innovation’s effectiveness, the panel Tobit model is then developed. In light of the empirical data, the main conclusions of this paper are as follows: First, despite a slow but steady improvement, Chinese renewable energy companies still need to increase their technological innovation efficiency. Pure technical efficiency is the main factor contributing to low innovation efficiency. Second, environmental laws such as reliance on global commerce, industrial structure, and local science and technology affect the innovation effectiveness of listed renewable energy enterprises. After excluding environmental factors, the comprehensive technical efficiency of listed renewable energy companies has decreased. Finally, the innovation and technological efficiency of renewable energy firms are positively impacted by government subsidies, top operational revenue, and enterprise scale.
KW - influencing factors
KW - renewable energy
KW - technological innovation
KW - three-stage DEA
KW - Tobit model
UR - http://www.scopus.com/inward/record.url?scp=85153759811&partnerID=8YFLogxK
U2 - 10.3390/su15086342
DO - 10.3390/su15086342
M3 - Article
AN - SCOPUS:85153759811
SN - 2071-1050
VL - 15
JO - Sustainability (Switzerland)
JF - Sustainability (Switzerland)
IS - 8
M1 - 6342
ER -