Knowledge Management System Of Guangzhou Institute of Energy Conversion, CAS
| Does oil price affect corporate innovation? Evidence from new energy vehicle enterprises in China | |
He, Jiaxin1,4; Li, Jingyi2,5; Zhao, Daiqing1,4 ; Chen, Xing3
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| 2022-03-01 | |
| Source Publication | RENEWABLE & SUSTAINABLE ENERGY REVIEWS
 |
| ISSN | 1364-0321 |
| Volume | 156Pages:9 |
| Corresponding Author | Chen, Xing(chenxing507@dlut.edu.cn) |
| Abstract | The development of the new energy vehicle (NEV) industry to alleviate the global energy shortage and environmental pollution has attracted much attention. An econometric model is established to investigate the influence of oil price on innovation in new energy vehicle technologies, based on the induced-innovation theory. Taking advantage of enterprise-level panel data, the method of individual-fixed effect estimation is employed to capture time-invariant enterprise attributes in the analysis. We found that oil price spurs innovation in NEV enterprise, when controlling the influences of other factors, which is consistent with the theoretical hypothesis. The effect is substantively significant and robust. Further study implies that increasing research and development expenditure is a channel to increase innovation for enterprises when oil prices raise. Our findings are helpful to policymakers who are trying to understand the heterogeneity effects of oil price on NEV innovation. This paper suggests that central government should provide relevant policies and incentives to deal with price shocks, and enterprises should also have long-term plans to promote continuous corporate innovation. |
| Keyword | Oil price New energy vehicles Corporate innovation Patents |
| DOI | 10.1016/j.rser.2021.111964 |
| WOS Keyword | POLICIES ; GROWTH |
| Indexed By | SCI |
| Language | 英语 |
| Funding Project | Fundamental Research Funds for the Central Universities[DUT21RC (3) 111] |
| WOS Research Area | Science & Technology - Other Topics ; Energy & Fuels |
| Funding Organization | Fundamental Research Funds for the Central Universities |
| WOS Subject | Green & Sustainable Science & Technology ; Energy & Fuels |
| WOS ID | WOS:000784449100003 |
| Publisher | PERGAMON-ELSEVIER SCIENCE LTD |
| Citation statistics | |
| Document Type | 期刊论文 |
| Identifier | http://ir.giec.ac.cn/handle/344007/36295 |
| Collection | 中国科学院广州能源研究所 |
| Corresponding Author | Chen, Xing |
| Affiliation | 1.Chinese Acad Sci, Guangzhou Inst Energy Conservat, Guangzhou, Guangdong, Peoples R China 2.Chinese Acad Sci, Inst Geog Sci & Nat Resources Res, Beijing 100101, Peoples R China 3.Dalian Univ Technol, Inst Carbon Peak & Neutral, Sch Econ & Management, Dalian 116024, Liaoning, Peoples R China 4.Guangdong Prov Key Lab New & Renewable Energy Res, 2 Nengyuan Rd, Guangzhou 510640, Peoples R China 5.Univ Chinese Acad Sci, Coll Resources & Environm, Beijing 100049, Peoples R China |
| Recommended Citation GB/T 7714 | He, Jiaxin,Li, Jingyi,Zhao, Daiqing,et al. Does oil price affect corporate innovation? Evidence from new energy vehicle enterprises in China[J]. RENEWABLE & SUSTAINABLE ENERGY REVIEWS,2022,156:9. |
| APA | He, Jiaxin,Li, Jingyi,Zhao, Daiqing,&Chen, Xing.(2022).Does oil price affect corporate innovation? Evidence from new energy vehicle enterprises in China.RENEWABLE & SUSTAINABLE ENERGY REVIEWS,156,9. |
| MLA | He, Jiaxin,et al."Does oil price affect corporate innovation? Evidence from new energy vehicle enterprises in China".RENEWABLE & SUSTAINABLE ENERGY REVIEWS 156(2022):9. |
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