Research on the impact of government environmental protection subsidies on enterprises'green technology innovation—from the perspective of innovation motivation
Green technological innovation is an important means to realize the goal of"double carbon"and high-quality development.Based on institutional theory and rent-seeking theory,the article empirically investigates the impact of government environmental subsidies on corporate green technology innovation and the moderating role of corporate digital transformation and ESG performance from the perspective of corporate innovation motivation.The study finds that:first,government environmental subsidies are positively correlated with strategic green technological innovation of enterprises,but have a"U"-shaped relationship with substantive green technological innovation of enterprises;second,the digital transformation of enterprises plays a positive moderating role between government environmental subsidies,substantive green technological innovation of enterprises and strategic green technological innovation of enterprises,and ESG performance is only affected by government environmental subsidies,but only by government environmental subsidies.Second,the digital transformation of enterprises plays a positive moderating role between government environmental subsidies and enterprises'substantive green technological innovation and strategic green technological innovation,while enterprises'ESG performance plays a positive moderating role between government environmental subsidies and enterprises'substantive green technological innovation;third,both the direct promotion effect of government environmental subsidies on enterprises'strategic green technological innovation and the"U"-shaped effect on enterprises'substantive green technological innovation are more significant in large-scale enterprises.The findings of the study provide some reference value for the government to formulate rational policies and promote the development of green technology innovation.
green technology innovationenvironmental protection subsidiesdigital transformationESG performance
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