Page 155 - IJOCTA-15-4

Green innovation efficiency measurement and its influencing factors in specialized and new enterprises
Table 7. Regression results of influencing factors on green innovation efficiency of SNEs in Zhejiang

Variables Green innovation Variables Green innovation
efficiency efficiency
Constant term 4.618 GOVNM 0.326**
(1.524) (0.096)
RD 0.175** LHD −0.453
(0.227) (0.139)
COORP 0.107** Lev 0.432
(0.005) (0.236)
ES −0.830 ∗∗ Profit −0.133 ∗∗
(0.257) (0.059)
ENVIR 0.102 DN 0.153
(0.003) (0.085)
Abbreviations: COORP, Industry-university-research cooperation; DN, Board size;
ENVIR, Environmental protection
investment intensity; ES, Enterprise scale; GIE,
Green innovation efficiency; GOVNM, Government financial support;
Lev, Asset-liability ratio; LHD, Ownership concentration;
Profit, Net operating cash flow; RD: Research and development investment.
* and ** are significant at the level of 10% and 5%, respectively.
The standard error of the estimated coefficient is shown in parentheses

Table 8. Robustness test of influencing factors on green innovation efficiency of SNEs in Zhejiang

Variables Green innovation) Variables Green innovation)
efficiency (VRS value) efficiency (VRS value)
Constant term 2.352 GOVNM 0.827**
(1.187) (0.318)
RD 0.156** LHD −0.921
(0.160) (0.589)
COORP 0.117** Lev 0.721
(0.004) (0.341)
ES −0.726 ∗∗ Profit −0.125 ∗∗
(0.181) (0.029)
ENVIR 0.042 DN 0.177**
(0.002) (0.060)
Abbreviations: COORP, Industry-university-research cooperation;
DN, Board size; ENVIR, Environmental
protection investment intensity; ES, Enterprise scale;
GIE, Green innovation efficiency; GOVNM, Government financial support;
Lev, Asset-liability ratio; LHD, Ownership concentration; Profit, Net operating cash flow;
RD, Research and development investment.
*and ** are significant at the level of 10% and 5%,
The standard error of the estimated coefficient is shown in parentheses.

specific aspect, forming a construction brand ef- 3.4.3. Industry-university-research
fect and a market advantage. Moreover, with the Cooperation
launch of the sharing platform, SNEs can easily
form a construction enterprise community with As an innovative activity of the technology al-
a complete system and strong strength through liance, industry-university-research cooperation
the integration of resources and complementary (COORP) is a process of realizing technological
innovation by integrating internal and external
advantages among enterprises, which in turn will
technology and knowledge, and its cooperation
help SNEs improve their green innovation ability
degree covers two dimensions: breadth and depth.
and improve their GIE. Therefore, the following
In the process of COORP and innovation, SNEs
hypothesis is proposed:
internalize the new knowledge acquired from part-
H2: Enterprise scale (ES) is significantly and ners, enabling their internal knowledge to be dy-
negatively related to the GIE of SNEs. namically updated and accumulated to improve
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