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Discretionary Effort on Green Technology Innovation: How Chinese Enterprises Act when Facing Financing Constraints

Firm’s effort on Green technology innovation (hereafter, called G-innovation) is affected by financing constraints, and firm will make a discretionary choice according to its own situation, to achieve the maximization of self-interests. Based on the data of Chinese micro enterprises, firstly, we emp...

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Detalles Bibliográficos
Autores principales: Zhang, Kexian, Liu, Xiaoying, Hong, Min
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Public Library of Science 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8694420/
https://www.ncbi.nlm.nih.gov/pubmed/34936690
http://dx.doi.org/10.1371/journal.pone.0261589
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author Zhang, Kexian
Liu, Xiaoying
Hong, Min
author_facet Zhang, Kexian
Liu, Xiaoying
Hong, Min
author_sort Zhang, Kexian
collection PubMed
description Firm’s effort on Green technology innovation (hereafter, called G-innovation) is affected by financing constraints, and firm will make a discretionary choice according to its own situation, to achieve the maximization of self-interests. Based on the data of Chinese micro enterprises, firstly, we empirically analyze firms’ decision-making towards G-innovation when faced with financing constraints. It supports the view that financing constraints can hinder enterprise technological innovation. And we also make an explanation that the social benefits of green technology innovation are greater than personal benefits, which makes enterprises tend to reduce green technology innovation when facing financing constraints. Then we examine firms’ heterogonous behaviors under different internal attributes and external environments. The results reveal that: First, firms are reluctant to pay more efforts to G-innovation when faced with increased financing constraints. Second, firms with different attributes exhibit heterogeneous G-innovation. Political connections will change firms’ willingness to innovate, while the structure of property rights and the pollution degree will not. Third, firms under different external environment also exhibit heterogeneous G-innovation. When economic policy uncertainty increases, firms’ willingness to innovate weakens. The development of shadow banks fail to improve firm’s willingness to innovate.
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spelling pubmed-86944202021-12-23 Discretionary Effort on Green Technology Innovation: How Chinese Enterprises Act when Facing Financing Constraints Zhang, Kexian Liu, Xiaoying Hong, Min PLoS One Research Article Firm’s effort on Green technology innovation (hereafter, called G-innovation) is affected by financing constraints, and firm will make a discretionary choice according to its own situation, to achieve the maximization of self-interests. Based on the data of Chinese micro enterprises, firstly, we empirically analyze firms’ decision-making towards G-innovation when faced with financing constraints. It supports the view that financing constraints can hinder enterprise technological innovation. And we also make an explanation that the social benefits of green technology innovation are greater than personal benefits, which makes enterprises tend to reduce green technology innovation when facing financing constraints. Then we examine firms’ heterogonous behaviors under different internal attributes and external environments. The results reveal that: First, firms are reluctant to pay more efforts to G-innovation when faced with increased financing constraints. Second, firms with different attributes exhibit heterogeneous G-innovation. Political connections will change firms’ willingness to innovate, while the structure of property rights and the pollution degree will not. Third, firms under different external environment also exhibit heterogeneous G-innovation. When economic policy uncertainty increases, firms’ willingness to innovate weakens. The development of shadow banks fail to improve firm’s willingness to innovate. Public Library of Science 2021-12-22 /pmc/articles/PMC8694420/ /pubmed/34936690 http://dx.doi.org/10.1371/journal.pone.0261589 Text en © 2021 Zhang et al https://creativecommons.org/licenses/by/4.0/This is an open access article distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/) , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
spellingShingle Research Article
Zhang, Kexian
Liu, Xiaoying
Hong, Min
Discretionary Effort on Green Technology Innovation: How Chinese Enterprises Act when Facing Financing Constraints
title Discretionary Effort on Green Technology Innovation: How Chinese Enterprises Act when Facing Financing Constraints
title_full Discretionary Effort on Green Technology Innovation: How Chinese Enterprises Act when Facing Financing Constraints
title_fullStr Discretionary Effort on Green Technology Innovation: How Chinese Enterprises Act when Facing Financing Constraints
title_full_unstemmed Discretionary Effort on Green Technology Innovation: How Chinese Enterprises Act when Facing Financing Constraints
title_short Discretionary Effort on Green Technology Innovation: How Chinese Enterprises Act when Facing Financing Constraints
title_sort discretionary effort on green technology innovation: how chinese enterprises act when facing financing constraints
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8694420/
https://www.ncbi.nlm.nih.gov/pubmed/34936690
http://dx.doi.org/10.1371/journal.pone.0261589
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