Independent R&D or technology imports? The induced innovation effects of energy intensity constraints

Tao Ge, Zixuan Hao and Dongyu Dai

Technology in Society, 2025, vol. 83, issue C

Abstract: This study investigates the innovation effects of energy intensity constraints by disaggregating corporate innovation into independent R&D and technology imports. Utilizing a sample of A-share listed enterprises from 2006 to 2020 matched with manually collected city-level energy intensity targets across 284 Chinese cities, we employ a two-way fixed effects model. The results reveal that enterprises prioritize technology imports over independent R&D, although energy intensity constraints simultaneously stimulate both innovation modes. State-owned and high-tech enterprises demonstrate stronger innovation responses compared with their non-state-owned and non-high-tech counterparts, with the former group preferring independent R&D and the latter group prioritizing technology imports. Meanwhile, energy intensity constraints promote independent R&D through government support while inducing technology imports via market competition. Additionally, further analysis suggests that technology imports exert stronger positive impacts on corporate short-term profitability whereas independent R&D possesses greater promoting effects on corporate long-term sustainability. This research offers significant policy implications for leveraging energy conservation policies to promote corporate innovation.

Keywords: Energy intensity constraints; Corporate innovation strategies; Independent R&D; Technology imports; China (search for similar items in EconPapers)
JEL-codes: G11 L20 O33 Q48 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:teinso:v:83:y:2025:i:c:s0160791x25001848

DOI: 10.1016/j.techsoc.2025.102994

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