Page 145 - IJOCTA-15-4

Green innovation efficiency measurement and its influencing factors in specialized and new enterprises
social development, while also promoting sustain- through green innovation, enhancing market com-
3
able social development. The introduction of the petitiveness. This aligns with green innovation’s
dual carbon strategy presents unprecedented op- differentiation strategy in environmental markets.
4
portunities and severe challenges for Chinese en- As shown in a study by Li and Xiao based on
terprises. Chinese enterprises need to seize the green patent data from listed firms, technological
historical opportunity of carbon peaking and car- differences formed by firms through green innova-
bon neutrality, accelerate the adjustment of en- tion can be transformed into competitive advan-
ergy structure and industrial structure, build a tages in the marketplace in the context of environ-
green, low-carbon, and circular development in- mental regulation, and this path of differentiation
dustrial system, and set an example for the coun- is in line with the policy orientation as well as pro-
try to accomplish its carbon peaking and carbon viding firms with sustained incentives to innovate.
neutrality goals. However, the high specificity of unique technolo-
gies may increase the difficulty of applying green
innovation results across industries, limiting their
As the forefront of China’s technical indepen-
spillover effects. Fourthly, for novelty, which fo-
dence and self-improvement, SNEs always emerge
cused on technological and institutional innova-
as crucial catalysts for high-quality development,
tion, these enterprises are inherently inclined to
crucial stabilizers for the new development pat- adopt new environmental technologies and mod-
tern, and the backbone of an inventive country.
Green innovation theory, rooted in the integra- els. Their innovative vitality matches green in-
tion of ecological economics and innovation stud- novation’s demand for breaking traditional high-
ies, emphasizes that enterprises should achieve pollution patterns. Nevertheless, the uncertainty
technological breakthroughs, process optimiza- of novel technologies may lead to higher R&D
tion, and product upgrading while reducing en- risks, reducing enterprises’ willingness to invest
vironmental pollution and resource consumption, in green innovation, especially when facing mar-
ket fluctuations. Against the backdrop of China’s
thereby balancing economic benefits with ecologi-
dual carbon strategy, green innovation has be-
cal sustainability. This theory highlights the dual
come a critical path for enterprises to achieve sus-
attributes of innovation: resource efficiency and
tainable development. As the key driving force of
environmental friendliness. It coincides with the
technological autonomy, the integration of green
four characteristics of specialization, refinement,
innovation theory has the characteristics of spe-
uniqueness, and novelty of SNEs. Firstly, in terms
cialization, refinement, uniqueness, and novelty.
of specialization, these enterprises focus on spe-
Such characteristics align with the synergistic de-
cific industrial chains or product segments, en-
velopment trend of digitalization and greening,
abling them to concentrate resources on green
and the coupling and coordination of the two can
technology research and development (R&D) in
provide important support for the innovation and
niche fields. For example, specialized manufac-
development of SNEs, which not only determine
turing enterprises can develop energy-saving tech-
their competitiveness but also affect the overall
nologies for core components, aligning with green 5
efficiency of regional green development. How-
innovation’s emphasis on resource optimization in ever, existing studies have not systematically ex-
specialized links. However, their narrow business
scope may also limit the scale of green innovation plored how these unique characteristics moder-
investment, creating a tension between specialized ate the mechanisms of green innovation efficiency
advantages and resource constraints. Secondly, (GIE), making it necessary to establish a targeted
for refinement, which is characterized by sophisti- analytical framework to fill this gap.
cated production management and high-quality At present, although several studies have fo-
standards, these enterprises are more likely to cused on GIE of enterprises, they mostly focus on
integrate environmental factors into process op- the GIE of ordinary small- and medium-sized en-
timization. Refined management systems can terprises (SMEs), the manufacturing industry as
reduce waste emissions during production, di- a whole, or specific industries, and there is less
rectly contributing to green innovation’s process- systematic research targeting the special group of
oriented environmental benefits. Yet, excessive SNEs. In addition, although some of the stud-
pursuit of short-term efficiency may prioritize cost ies involve the influencing factors of green innova-
control over long-term green technology invest- tion, they are mostly analyzed from a single per-
ment, hindering the transformation of refinement spective and combined with the traditional data
into green innovation momentum. Thirdly, for envelopment analysis (DEA) model or the three-
uniqueness, enterprises with unique technologies stage DEA model, and do not sufficiently con-
or product functions can differentiate themselves sider the impact of non-desired outputs in green
687