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Energy regulation and industrial robot adoption: The role of human capital 能源监管与工业机器人采用:人力资本的作用
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-04-15 DOI: 10.1016/j.eneco.2025.108499
Chien-Chiang Lee , En-Ze Wang
{"title":"Energy regulation and industrial robot adoption: The role of human capital","authors":"Chien-Chiang Lee ,&nbsp;En-Ze Wang","doi":"10.1016/j.eneco.2025.108499","DOIUrl":"10.1016/j.eneco.2025.108499","url":null,"abstract":"<div><div>Energy regulations play a crucial role in enhancing firms' energy efficiency and environmental performance. However, their unintended effects, particularly on the adoption of industrial robots, have received limited attention. This paper leverages the implementation of China's Top 10,000 energy-consuming enterprises (TECE) program as an exogenous shock and employs a difference-in-differences methodology to assess the impact of energy regulations on industrial robot adoption and its potential underlying mechanisms. Additionally, the study examines the moderating role of human capital in shaping this relationship. To this end, we constructed firm-level variables for industrial robot usage and the intensity of energy regulation by integrating multiple micro-level datasets. Our findings indicate that energy regulations significantly reduce the usage of industrial robots. Specifically, the TECE project decreased the probability of regulated firms adopting industrial robots by 0.09 percentage points. Given that only 2.8 % of firms in the sample period used industrial robots, this impact is considerable. The deterioration of financial performance and increased R&amp;D investment induced by energy regulations are likely channels for this effect. Furthermore, the energy regulation's negative impact is more pronounced for firms with higher levels of human capital. This is because such firms are more inclined to increase R&amp;D investment, thereby crowding out investment in industrial robots.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"146 ","pages":"Article 108499"},"PeriodicalIF":13.6,"publicationDate":"2025-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143858842","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Sanctions and inventories: Evidence from Russian energy firms 制裁和库存:来自俄罗斯能源公司的证据
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-04-15 DOI: 10.1016/j.eneco.2025.108497
Kiet Tuan Duong , Luu Duc Toan Huynh , Quan M.P. Nguyen
{"title":"Sanctions and inventories: Evidence from Russian energy firms","authors":"Kiet Tuan Duong ,&nbsp;Luu Duc Toan Huynh ,&nbsp;Quan M.P. Nguyen","doi":"10.1016/j.eneco.2025.108497","DOIUrl":"10.1016/j.eneco.2025.108497","url":null,"abstract":"<div><div>We examine how Russian energy firms respond to international sanctions imposed by Western countries and their allies. The primary aim of these sanctions is to prevent Russia from accessing global trade markets. Using the sample of 13,319 Russian firms from 1994 to 2022, we find that sanctioned Russian energy firms hold significantly higher inventory levels compared to non-sanctioned firms. Sanctions have heterogeneous impacts across different firm characteristics. Large firms hold more inventory after being sanctioned, while highly leveraged firms significantly reduce their inventory levels. We also find that corporate inventory turnover is not significantly impacted, likely because sanctioned energy firms cannot promptly sell their products in response to the sanctions.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"146 ","pages":"Article 108497"},"PeriodicalIF":13.6,"publicationDate":"2025-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143859430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Supply chain upstream shocks and downstream concentration in the new energy sector: Balancing diversification and centralization 新能源领域供应链上游冲击与下游集中化:多元化与集中化的平衡
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-04-15 DOI: 10.1016/j.eneco.2025.108510
Yuhao Wang , Pengfei Cheng
{"title":"Supply chain upstream shocks and downstream concentration in the new energy sector: Balancing diversification and centralization","authors":"Yuhao Wang ,&nbsp;Pengfei Cheng","doi":"10.1016/j.eneco.2025.108510","DOIUrl":"10.1016/j.eneco.2025.108510","url":null,"abstract":"<div><div>The rapid growth of the global new energy sector requires balancing supply chain diversification and centralization to manage policy uncertainty and market volatility. Using data from China's A-share listed new energy firms (2005–2022), this study finds that (1) upstream firms' perceptions of economic policy uncertainty significantly reduce downstream supply chain concentration, driving firms to adopt diversification strategies to mitigate risks; (2) mechanism analysis shows that risk tolerance and digital transformation amplify this effect, while cost control and innovation alleviate it; (3) further analysis reveals significant dynamic effects—firms initially diversify in response to short-term shocks but adjust strategies over time to balance efficiency and flexibility as uncertainty persists. Moreover, geopolitical risks intensify the diversification effects of policy uncertainty by increasing supply chain instability; (4) heterogeneity analysis highlights regional differences, ownership structures, and industry characteristics as key factors shaping supply chain adjustments. This research offers valuable guidance for resource-dependent industries to enhance resilience and support sustainable development amid global energy transitions.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"145 ","pages":"Article 108510"},"PeriodicalIF":13.6,"publicationDate":"2025-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143848176","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How does environmental disclosure impede regional carbon emissions? Insights from extensive and intensive margins 环境信息披露如何阻碍区域碳排放?来自广泛和密集边际的见解
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-04-14 DOI: 10.1016/j.eneco.2025.108486
Zhijiu Yang , Feiyun Zhang , Zhichun Zeng , Haijun Xu , Mengxu Li
{"title":"How does environmental disclosure impede regional carbon emissions? Insights from extensive and intensive margins","authors":"Zhijiu Yang ,&nbsp;Feiyun Zhang ,&nbsp;Zhichun Zeng ,&nbsp;Haijun Xu ,&nbsp;Mengxu Li","doi":"10.1016/j.eneco.2025.108486","DOIUrl":"10.1016/j.eneco.2025.108486","url":null,"abstract":"<div><div>This paper examines the causal effect of environmental information disclosure (EID) on regional carbon emissions through the lens of extensive and intensive margins of industrial development. We find that, on average, EID reduces regional carbon emissions by 5.4 % in treated cities relative to the control group following the launch of the Pollution Information Transparency Index (PITI). We then decompose regional carbon emissions into those of new industrial entrants (i.e., the extensive margin) and incumbent industrial firms (i.e., the intensive margin). We find that EID not only deters the entry of industrial firms but also inhibits the entry of manufacturing and carbon-intensive firms. At the intensive margin, we find that EID reduces corporate carbon emissions mainly through cutting industrial output rather than improving energy efficiency. Further analyses indicate that the mitigation effect on carbon emissions is much more prevalent in regions with stringent enforcement, strong legal environments, and high Internet penetration rates. This study highlights the importance of informal regulation in mitigating climate change.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"146 ","pages":"Article 108486"},"PeriodicalIF":13.6,"publicationDate":"2025-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143858841","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Is energy system resilience improved in the energy transition? Evidence from China 能源系统弹性是否在能源转型中得到改善?来自中国的证据
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-04-14 DOI: 10.1016/j.eneco.2025.108485
Xiaomeng Zhao , Jun Zhao , Farhad Taghizadeh-Hesary
{"title":"Is energy system resilience improved in the energy transition? Evidence from China","authors":"Xiaomeng Zhao ,&nbsp;Jun Zhao ,&nbsp;Farhad Taghizadeh-Hesary","doi":"10.1016/j.eneco.2025.108485","DOIUrl":"10.1016/j.eneco.2025.108485","url":null,"abstract":"<div><div>Improving energy resilience, as a crucial strategy to resist the risk associated with energy systems in the context of increasing uncertainty, is a meaningful research direction whether it can be realized during the energy transition phase. This study empirically assesses the correlation between energy transition and energy resilience. It also explores their heterogeneity and the potential impact mechanisms using balanced panel data for 30 provinces in 17 years in China. The results are as follows: (i) Energy transition can enhance the resilience of the energy system; (ii) there is regional heterogeneity in this positive boosting effect, and the differences are due to the different types of renewable energy sources; (iii) green technology innovation and green finance are effective mediators between energy transition and energy resilience. Some effective and practical policy suggestions are proposed, and policymakers should uphold the principle of adapting to local conditions and a systematic regional differentiation policy.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"146 ","pages":"Article 108485"},"PeriodicalIF":13.6,"publicationDate":"2025-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143850404","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
When renewable energy technology products exports meet geopolitical risks: Can environmental policies sweeten the bitter pill of the trade? 当可再生能源技术产品出口面临地缘政治风险时:环境政策能让这颗苦药丸变甜吗?
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-04-14 DOI: 10.1016/j.eneco.2025.108498
Yanmin Shao , Junlong Li
{"title":"When renewable energy technology products exports meet geopolitical risks: Can environmental policies sweeten the bitter pill of the trade?","authors":"Yanmin Shao ,&nbsp;Junlong Li","doi":"10.1016/j.eneco.2025.108498","DOIUrl":"10.1016/j.eneco.2025.108498","url":null,"abstract":"<div><div>Amid escalating global geopolitical risks (GPR) and intensifying energy transition competition, strategic rivalry in the energy sector has shifted from traditional resource contention to dominance over renewable energy technologies. While renewable energy technology products (RETP) are recognized as critical to global green transformation, the inhibitory effects of GPR on their international trade remain underexplored. This study addresses this gap by analyzing observations from 42 economies (1998–2020) using a gravity model. Our findings reveal a significant negative impact of GPR on RETP exports. Crucially, we identify conflicting fiscal policies: Environmental taxes exacerbate this negative effect by increasing compliance costs, whereas environmental expenditures mitigate it by reducing external costs. These results highlight the dual role of state intervention in energy technology wars, providing timely insights for policymakers navigating intertwined GPR and energy transition risks. Grounded in resource dependence theory, we propose a theoretical framework that leverages government intervention to help businesses reduce reliance on GPR. This framework repositions environmental policies as geopolitical hedging tools for RETP trade.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"145 ","pages":"Article 108498"},"PeriodicalIF":13.6,"publicationDate":"2025-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143844550","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Innovation by regulation: Smart electricity in Great Britain and Italy 监管创新:英国和意大利的智能电力
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-04-14 DOI: 10.1016/j.eneco.2025.108368
Beatriz Couto Ribeiro , Tooraj Jamasb
{"title":"Innovation by regulation: Smart electricity in Great Britain and Italy","authors":"Beatriz Couto Ribeiro ,&nbsp;Tooraj Jamasb","doi":"10.1016/j.eneco.2025.108368","DOIUrl":"10.1016/j.eneco.2025.108368","url":null,"abstract":"<div><div>With the rise of renewable and distributed energy sources, electricity distribution and transmission utilities are facing increasing demand by regulators to innovate and adopt new technologies and transit to smart grids. However, these regulated natural monopolies often lack economic incentives to develop and adopt new technologies. To overcome this barrier, some regulatory authorities have introduced the so-called “innovation-stimuli” regulations to foster experimentation, technological adoption and innovative solutions. We analyze and compare the effectiveness of two different innovation-stimuli regulations, the cost-pass through and WACC approaches, in Great Britain (GB) and Italy, respectively. To assess the impact of these different regulations on innovation, we use synthetic control (SC) and synthetic difference-in-differences (SDID) methods, which constitute causal inference techniques for small-n case study design and, for the first time, are employed to assess the impact of regulations on innovation outputs. Our panel data encompasses 13 European countries covering 1995 to 2013 and used smart grid projects and patent applications as dependent variables. Meanwhile, cost-pass-through significantly and positively affected patent applications in the GB. In Italy, WACC did not affect patent applications, and European Commission-funded projects mostly drove the increases in smart-grid projects.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"146 ","pages":"Article 108368"},"PeriodicalIF":13.6,"publicationDate":"2025-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143878694","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Global energy transition under geopolitical risks: An empirical investigation 地缘政治风险下的全球能源转型:实证研究
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-04-13 DOI: 10.1016/j.eneco.2025.108495
Zhimeng Zhu , Ahmed Imran Hunjra , Samar S. Alharbi , Shikuan Zhao
{"title":"Global energy transition under geopolitical risks: An empirical investigation","authors":"Zhimeng Zhu ,&nbsp;Ahmed Imran Hunjra ,&nbsp;Samar S. Alharbi ,&nbsp;Shikuan Zhao","doi":"10.1016/j.eneco.2025.108495","DOIUrl":"10.1016/j.eneco.2025.108495","url":null,"abstract":"<div><div>The global energy transition is crucial for sustainable development, but is vulnerable to geopolitical risks, leading to market turbulence, rising uncertainty and impeding policy implementation. Previous studies have mostly focused on energy security and geopolitical instability, but their systemic impact on energy transition remains unexplored. This study analyzes this relationship through fixed-effects regression and moderated-effects modeling using monthly panel data for 41 countries over the period 2003–2021. It finds that geopolitical risks significantly hinder the energy transition by exacerbating price volatility, disrupting supply chains, and changing policy priorities. However, countries with strong renewable energy capacity, sound fiscal mechanisms, and flexible labor markets are better able to mitigate these effects, while resource-dependent and militarized economies face greater delays. This study integrates geopolitical risks into the energy transition framework, provides empirical evidence and emphasizes that Governments should increase energy resilience, expand domestic renewable energy production and implement sound fiscal policies to cope with geopolitical uncertainty.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"145 ","pages":"Article 108495"},"PeriodicalIF":13.6,"publicationDate":"2025-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143844551","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Applauded not acclaimed? Implementation effectiveness of the tradable green certificate in renewable energy policy of China 鼓掌而不是欢呼?可交易绿色证书在中国可再生能源政策中的实施效果
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-04-13 DOI: 10.1016/j.eneco.2025.108504
Yue Wang, Bangjun Wang, Linyu Cui
{"title":"Applauded not acclaimed? Implementation effectiveness of the tradable green certificate in renewable energy policy of China","authors":"Yue Wang,&nbsp;Bangjun Wang,&nbsp;Linyu Cui","doi":"10.1016/j.eneco.2025.108504","DOIUrl":"10.1016/j.eneco.2025.108504","url":null,"abstract":"<div><div>As the key tool for policy to support the growth of renewable energy, the tradable green certificate (TGC) is intended to ensure the consumption of renewable energy and support the implementation of the “dual‑carbon” strategy in China. Polarization between the amount of TGC issued and traded, however, is an issue. Accordingly, this work first establishes a two-stage supply chain Nash equilibrium game model, which includes coal and green power enterprises and power grids. Secondly, from the power generation side, considering the establishment of the linkage between TGC market and carbon market, or from the sales side, adjusting the ways for the grid to fulfill the assessment tasks of renewable energy consumption, construct the game model. Finally, the effects of renewable portfolio standards (RPS) ratio and consumption ratio on the equilibrium solution under different policy scenarios are analyzed through numerical simulation comparison. This demonstrates that: TGC has a significant phenomenon of “applauded not acclaimed” because of the dominant position of the supply side and high price; considering the establishment of carbon market and TGC market convergence or on this basis to adjust the grid to complete the task of ways of consumption, can improve the demand for TGC, weakening the ratio of RPS and consumption of the changes in the price of TGC, so as to achieve that market to “applauded and acclaimed”. The above investigates the implementation effect of TGC under RPS and carbon caps, which provides an important reference for the implementation effectiveness and sustainable development of TGC.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"145 ","pages":"Article 108504"},"PeriodicalIF":13.6,"publicationDate":"2025-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143848175","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Reducing gender inequalities in education helps mitigate climate change 减少教育中的性别不平等有助于减缓气候变化
IF 13.6 2区 经济学
Energy Economics Pub Date : 2025-04-13 DOI: 10.1016/j.eneco.2025.108494
Lu Cheng , Nicola Walshe , Zhifu Mi
{"title":"Reducing gender inequalities in education helps mitigate climate change","authors":"Lu Cheng ,&nbsp;Nicola Walshe ,&nbsp;Zhifu Mi","doi":"10.1016/j.eneco.2025.108494","DOIUrl":"10.1016/j.eneco.2025.108494","url":null,"abstract":"<div><div>Promoting gender equality in education is a telling means of realizing the sustainable development goals (SDGs) aiming at gender equality and women's empowerment. Gender inequalities in education persist, exacerbated by climate change, which in turn affects efforts to combat climate change. However, researchers to date have stopped short of examining the extent to which the efforts to narrow gender inequality in education can affect carbon emissions. This paper aims to examine the correlation, impact mechanisms and heterogeneity between gender inequality in education and carbon emissions, based on continuous data covering the global scale over a long-time span. Here, we show that narrowing educational gender inequalities, especially in post-primary education, might contribute to mitigating climate change. Reducing gender inequalities in education is a feasible solution for developing countries to address climate concerns. The analyses indicate potential social means of tackling climate issues, and provide country-varying and education level-specific information for policymakers to take targeted actions to achieve further mitigation outcomes.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"145 ","pages":"Article 108494"},"PeriodicalIF":13.6,"publicationDate":"2025-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143839197","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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