Does oil price affect corporate innovation? Evidence from new energy vehicle enterprises in China

doi:10.1016/j.rser.2021.111964

GIEC OpenIR

	Does oil price affect corporate innovation? Evidence from new energy vehicle enterprises in China
	He, Jiaxin 1,4; Li, Jingyi 2,5; Zhao, Daiqing1,4 ; Chen, Xing 3
	2022-03-01
发表期刊	RENEWABLE & SUSTAINABLE ENERGY REVIEWS
ISSN	1364-0321
卷号	156 页码:9
通讯作者	Chen, Xing(chenxing507@dlut.edu.cn)
摘要	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.
关键词	Oil price New energy vehicles Corporate innovation Patents
DOI	10.1016/j.rser.2021.111964
关键词[WOS]	POLICIES ; GROWTH
收录类别	SCI
语种	英语
资助项目	Fundamental Research Funds for the Central Universities[DUT21RC (3) 111]
WOS研究方向	Science & Technology - Other Topics ; Energy & Fuels
项目资助者	Fundamental Research Funds for the Central Universities
WOS类目	Green & Sustainable Science & Technology ; Energy & Fuels
WOS记录号	WOS:000784449100003
出版者	PERGAMON-ELSEVIER SCIENCE LTD
引用统计	被引频次：14[WOS] [WOS记录] [WOS相关记录]
文献类型	期刊论文
条目标识符	http://ir.giec.ac.cn/handle/344007/36295
专题	中国科学院广州能源研究所
通讯作者	Chen, Xing
作者单位	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
推荐引用方式 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.