Green R&D Intervention of Public Research Institutions and Green Innovation of Enterprises:From the Perspective of Environmental Externalities
The"dual externalities"of green innovation leads to insufficient motivation for green R&D of enterprises,making it difficult to effectively stimulate green innovation by completely relying on the market mechanism.Therefore,there is an urgent need for the green R&D intervention of public research institutions,which can form a"green subsidy"for innovative elements and cultivate a cooperation chain of"basic study-applied R&D"in the green innovation field and promote a shift in the driving force of green innovation from capital-support to knowledge-driven.Based on the patent data at the firm level,this paper adopts the staggered difference-in-differences(DID)model to investigate the driving effect and mechanism of green R&D intervention by public research institutions on enterprises'green innovation from the perspective of"dual externalities".This paper finds that green R&D intervention by public research institutions can effectively improve the green innovation capability of enterprises.The green R&D intervention by public research institutions has a more significant effect on the improvement of enterprises'green innovation when the positive environmental externality is not effectively corrected.Besides,the mechanism analysis shows that the green R&D intervention by public research institutions can provide subsidies on knowledge and human capital for enterprises'green innovation through the mechanisms of green"talent pool"and"knowledge pool",thereby driving enterprises'green innovation.As the positive environmental externality has not been effectively corrected,the green R&D intervention by public research institutions can more significantly promote enterprises'green innovation through the mechanism of a green"talent pool"and"knowledge pool".The contributions of this paper are as follows.First,this paper focuses on the impact of the green R&D intervention of public research institutions on the green innovation of cooperating enterprises.This will contribute to the further improvement of the"basic study-applied R&D"cooperation mechanism in the field of green innovation by providing theoretical and empirical support.Second,from the perspective of environmental externalities,this paper reveals the deep-seated motivation of green R&D intervention by public research institutions,which can theoretically explain the necessity of industry-university-research cooperation in the field of green innovation.Third,this paper analyzes how green R&D intervention by research institutions drives enterprises'green innovation from the perspectives of"talent pool"and"knowledge pool",which provides a systematic analytical framework for exploring the channels of industry-university-research cooperation to stimulate enterprises'innovation.
public research institutionsgreen R&D interventiongreen innovation
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