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Green innovation efficiency measurement and its influencing factors in specialized and new enterprises
Second, the GIE in resource-based cities is cooperation and mutual assistance relationship is
examined. R&D investment and GIE are signifi- essential for enhancing the green innovation lev-
cantly positively correlated. SNEs should invest els of SNEs and reducing the differences in GIE
more in R&D to boost the effectiveness of their among these enterprises. It is vital to learn from
green innovation. Additionally, there is a strong the development experience of companies with
negative correlation between the GIE in Special- high GIE to strengthen the flow of outstanding
ized and New Enterprise and their size. For SNEs, talent and enhance one’s own GIE.
maintaining the current ES rather than rushing
to expand is more beneficial for improving their Thirdly, maintain a stable business scale. ES
GIE. Furthermore, there is a significant positive has a significant negative correlation with GIE. As
correlation between COORP and GIE. For SNEs, the representatives of SMEs, SNEs have certain
strengthening their cooperation with other insti- limitations in their expansion capabilities com-
tutions can enhance GIE. Moreover, the GIE and pared to large enterprises. Blind expansion only
GOVNM are significantly positively correlated. backfires, leading to a decline in their green inno-
One efficient strategy to increase resource-based vation capabilities. Therefore, SNEs should focus
cities’ GIE is to increase government funding. on their strengths, leveraging their inherent ad-
Lastly, the effectiveness of corporate green in- vantages in market competition to gain a compet-
novation may also be influenced by operating itive edge, thereby further enhancing their innova-
profit margin and board size, suggesting that the tion capabilities and improving their GIE. SNEs
effectiveness of corporate green innovation may should focus on improving management efficiency,
be connected to the operational capabilities and optimizing resource allocation, and reducing oper-
management of the business, which should be ating costs through the implementation of refined
taken into consideration. management to enhance the GIE. Besides, estab-
lishing an internal innovation incentive mecha-
nism to encourage employees to suggest green in-
5.2. Policy recommendations novation proposals and rewarding excellent inno-
Considering the systematic GMM dynamic vation results to stimulate employees’ enthusiasm
model, this paper finds that influencing fac- for innovation can result in GIE improvement as
tors, such as R&D investment, ES, COORP, and well. During the process of expansion, the enter-
GOVNM, all have important impacts on GIE. prise should give full consideration to enhancing
Based on this, this paper suggests targeted policy GIE and avoid blindly pursuing scale expansion,
recommendations from four aspects to provide which neglects the importance of green transfor-
help and reference significance for the improve- mation.
ment of GIE in SNEs.
Lastly, reform government subsidy schemes
Firstly, establish and improve a comprehen- and bolster government assistance. One of the
sive research mechanism. Investment in R&D four factors with the most effective impact is
funding is a crucial guarantee for innovation. government support, which is essential for im-
The enterprise innovation system should reason- proving the GIE. To enhance the innovation abil-
ably increase R&D funding, improve the efficiency ity and leadership role of SMEs, the government
of R&D funding utilization, and rely on issuing should first improve its policy support capabilities
green innovation subsidy policies to guide social and unleash the innovative vitality of businesses.
funds into the green innovation field, thereby en- Since businesses are the foundation, it is crucial
hancing the enterprise’s innovation capability and to concentrate on resource allocation to consis-
economic development level. It is advisable to tently allocate scarce societal resources to green
strengthen efforts to attract research talent, opti- innovation in businesses while encouraging green
mize incentive mechanisms, and broaden channels transformation and industry upgrading through
for talent introduction while increasing the num- intense market rivalry. Additionally, it is sensi-
ber of personnel and effectively enhancing the in- ble to encourage SMEs to increase research in-
novation capability of enterprises. vestment and establish research centers, guiding
Secondly, establish connections for coopera- SMEs to conduct fundamental and cutting-edge
tion between enterprises and research institutes, R&D. Lastly, utilizing the signaling effect of gov-
as well as between enterprises and universities. ernment subsidies encourages further investment
There is a significant positive correlation between from investors and alleviates the financing pres-
COORP and GIE. Due to the spillover effects sure on enterprises, enhancing the GIE.
of green innovation, establishing a comprehensive
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