Research on the Impact of Government Subsidies and Executive Incentives on Green Innovation of Enterprises:Empirical Evidence Based on Random Forest Model
Green innovation is a crucial driving force for achieving carbon peak and carbon neutrality goals.The issue of how to effectively promote enterprise green innovation performance has become the focus of attention in academic and industry circles.Based on the data of A-shared listed companies in heavily pollu-ting industries in China from 2011 to 2021,this study takes the internal and external incentive mechanisms of enterprises as the entry point and employs the Random Forest model to thoroughly analyze the impact of government subsidies and executive incentives on green innovation of enterprises.Results show that both government subsidies and executive incentives exhibit predictive effects on green innovation,but their effects are weaker than the enterprises'fundamental indicators.Government subsidies and executive equi-ty incentives facilitate green innovation of enterprises,while executive compensation incentives are nega-tively correlated with green innovation;Compared with non-state-owned enterprises,state-owned enterpri-ses'green innovation activities tend to rely more heavily on government supports,and the promotion effect of executive incentive policies in these enterprises is relatively limited.This study not only expands the ap-plication of machine learning methods in exploring the determinants of green innovation,but also provides useful insights for governments to enhance supportive policies and enterprises to optimize executive incen-tive systems.
government subsidiesexecutive incentivesgreen innovationRandom Forest
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