Research on the Heterogeneous Impact of Government Subsidies on Technological Innovation of China's New Energy Enterprises

Abstract

With the proposal of the concept of carbon peaking and carbon neutralization, the development of low-carbon economy has become a consensus. In order to deal with a series of environmental problems caused by the greenhouse effect, countries all over the world have begun to take actions to develop the new energy industry. Under the background of China's “14th Five-Year Plan” and innovation driven strategy, the new energy industry has become a strategic emerging industry to accelerate development and innovation. At the same time, the government also adopts financial subsidy policies actively, in order to help new energy enterprises improve their independent innovation ability, but this method is still controversial. According to the above background, The heterogeneous impact of government subsidies on technological innovation in new energy firms will be investigated in this research. It shows that government subsidies have an overall positive influence on the technological innovation of new energy firms. The influence of government subsidies on new energy technology innovation is more remarkable in large and medium-sized firms, according to the heterogeneity analysis, the effect on new energy technology innovation in the eastern region is more clear.