Sustainability of the New Energy Automobile Industry: Examining the Relationship among Government Subsidies, R&D Intensity, and Innovation Performance

Xin Ma, Hong Jiang (), Lijuan Tong, Jingyi Zhang and Mengyuan Dong
Additional contact information
Xin Ma: School of Management, Capital Normal University, Beijing 100089, China
Hong Jiang: Claro M. Recto Academy of Advanced Studies, Lyceum of the Philippines University, Manila 1002, Philippines
Lijuan Tong: School of Management, Capital Normal University, Beijing 100089, China
Jingyi Zhang: School of Artificial Intelligence and Date Science, Hebei University of Technology, Tianjin 300130, China
Mengyuan Dong: School of Management, Henan University of Technology, Zhengzhou 450001, China

Sustainability, 2023, vol. 15, issue 20, 1-16

Abstract: One of the most important factors in fostering the sustainable growth of the world economy is the global green low-carbon transition. With its effective use of resources, its high technological requirements, and its high added value, the new energy vehicle industry exemplifies the potential for sustainability. Its growth satisfies the requirements of China’s transition to an economic growth mode. This study performs an empirical analysis, using panel data from 154 new energy vehicle companies for the years 2015 to 2020. It examines the role of research and development (R&D) intensity in the impact relationship between government subsidies, R&D intensity, and innovation performance. The study’s results reveal that government subsidies have a significant positive influence on the innovation performance of enterprises, with this effect being more pronounced in non-state-owned and large-scale enterprises. Moreover, the mechanism analysis indicates that R&D intensity serves as a mediator between government subsidies and innovation performance. Based on this, this paper proposes that the government should refine the subsidy policy and should scientifically classify the enterprise standards and that enterprises should enhance their R&D capability and should develop innovation mechanisms.

Keywords: government subsidies; R&D intensity; innovation performance; new energy automobile industry (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.mdpi.com/2071-1050/15/20/14794/pdf (application/pdf)
https://www.mdpi.com/2071-1050/15/20/14794/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:15:y:2023:i:20:p:14794-:d:1258360

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().