TITLE:
Research on the Measurement and Influencing Factors of Innovation Efficiency of Listed Companies in the Energy Conservation and Environmental Protection Industry
AUTHORS:
Guoping Liao, Yali Liu, Wenhua Wang, Mingzhe Jiang
KEYWORDS:
Energy Conservation and Environmental Protection Industry, Measurement of Innovation Efficiency, Influencing Factors, China
JOURNAL NAME:
Theoretical Economics Letters,
Vol.13 No.6,
December
14,
2023
ABSTRACT: Under the double carbon goal, the 14th Five Year Plan proposes
to accelerate green and low-carbon development. The energy conservation and
environmental protection industry has ushered in a period of strategic
opportunities, and its driving role in economic growth will be further
apparent. The further specialization and refinement of market demand for
environmental protection products will force the energy conservation and
environmental protection industry to carry out technological innovation. What
is the efficiency of technological innovation in the energy conservation and
environmental protection industry? Based on 2016-2020 data of 45 Chinese listed
companies in this industry, this study uses DEA model and Malmquist index model
to measure innovation efficiency from both static and dynamic aspects, and
Tobit model to conduct regression analysis on the influencing factors of
innovation efficiency. The results indicate that, from a static perspective,
the overall innovation efficiency remained relatively stable from 2016 to 2019,
and decreased in 2020 due to the impact of the epidemic. From a dynamic
perspective, due to the decrease in scale efficiency and pure technological
efficiency, the overall innovation efficiency decreased by 1% between 2016 and
2020; The main influencing factors of innovation efficiency are regional public
budget revenue, the number of universities in the region, and the number of
employees with master’s degrees or above in the company.