Industrial Technological Complexity,Government Subsidies and Corporate Green Technology Innovation In-centives
With the continuous upgrading of China's industrial structure,a significant increase in the technological complexity of industry has become the norm for the economy and society in general.In this regard,can the significant increase in industrial techno-logical complexity incentivize enterprises'green technological innovation?Further,as an important part of the institutional environ-ment for industrial structure transformation,what role does government subsidy play in industrial technology complexity and corpo-rate green technology innovation incentives?Against this background,this paper studies the mechanism of industrial technological complexity on the incentives for green technological innovation,explores the mechanism of government subsidy policy design on the relationship between the two,and further analyzes the impact of internal corporate governance factors,external environmental regu-lations,and urban wealth disparities on the relationship between the three.The results of the study show that:(1)industrial technolog-ical complexity has a significant positive impact on green technological innovation,and government subsidies have a positive moder-ating effect on industrial technological complexity on green technological innovation;(2)the mechanism test shows that an increase in R&D funds and R&D personnel inputs under the moderating effect of government subsidies will promote the incentive effect of industrial technological complexity on green technological innovation;(3)Further research shows that corporate executive incentives,environmental regulations have a significant impact on the relationship between industrial technology complexity,government subsi-dies and corporate green technology innovation incentives,and there are differences in the impact of urban wealth on the three rela-tionships.The findings of the study provide theoretical basis and policy implications for the key factors in the sustainable upgrading of industrial technology and the incentives for green technological innovation of enterprises in China.Compared with the previous literature,this paper expands in the following three aspects:first,it expands and makes up for the re-search on the microeconomic consequences of industrial technological complexity.Existing literature on technological complexity mainly focuses on the relevant concepts,characteristics and other theoretical frameworks,only a small amount of literature on the re-lationship between industrial technological complexity and economic growth,and the lack of research on the economic consequences of technological complexity,especially the research on the mechanism of industrial technological complexity on the microenterprises has not yet been carried out.In this paper,we study the mechanism of industrial technological complexity on green technological in-novation of microenterprises to make up for the gap of theoretical and empirical research on the economic consequences of technolog-ical complexity on microenterprises;secondly,we supplement and explore the research on incentives and influencing factors of green technological innovation.Although many previous studies involve green technological innovation influencing factors,there is still a lack of analysis of the internal mechanism of green technological innovation from the perspective of industrial factors,especially the analysis of industrial factors and government subsidies,corporate governance,environmental regulation,urban wealth,etc.into a unified system of analysis of the rare,and these analyses are more in line with the logic of reality;Third,it explores and enriches the policy implications of institutional reform and new technology application practices in the process of industrial upgrading.Existing literature studies the impact of government subsidies and other policies on enterprises'green technological innovation from the per-spective of regulation,but lacks the analysis of the regulatory role of government subsidies and other institutional design in the pro-cess of industrial upgrading,and even more so,lacks the study of the joint role of multiple factors.This paper discusses the key points of institutional design reform to incentivize enterprises'green technological innovation from the perspective of industrial upgrading and the policy research on the application practice of new technologies.
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