Research On Low-carbon Listed Corporation Innovation Impacts On Business Performance

The contradiction between economic development and ecological environment is causedby the growing population and the over-consumption of resources, which is becomingdifficult to reconcile. Global warming issue is led by this and has become a worldwideproblem to be solved. As a indispensable element of the Low-carbon economy, Low-carbonenterprises,whose good performance helps to promote the development of low carboneconomy in China,are conducive to China to build a resource-saving and environment-friendly society. Their competitiveness and operating performance can be enhanced andimproved by the innovation capacity.This paper first reviewed the academic studies on innovation, business performance andthe relationship between them, which make full theoretical preparation for this article. Then7innovation indicators concluding the R&D expenditure, number of R&D personnel, the ratioof R&D personnel accounted for the proportion of the total staff, the proportion betweenemployees who are undergraduates and above and the total working staff, R&D investmentintensity, the number of patent applications (within one year), fixed assets depreciation ratewere selected to build innovation ability evaluation index system. The Global PrincipalComponent Analysis and Cluster Analysis were utilized to sort, classify and evaluate34listedcompanies in low-carbon innovation ability. The Result of the study shows that, in low carbonlisted companies in China, the innovation of wind power companies was better by comparison.Solar, new energy battery and nuclear power listed companies’ innovation was general whoseinnovative ability was almost on a par.And biomass energy companies’ innovation were poor.Next, A low-carbon business performance evaluation system was consisted of17performance indicators which were selected from five aspects of profitability, asset operations,solvency, growth capacity and capital expansion capability. Then the Global PrincipalComponent Analysis was used to evaluate the operating performance of listed low-carboncompanies. Cluster Analysis was also utilized to sort and analyze the low-carbon businessperformance. The results showed that the performance of nuclear power and battery energycorporate was good. The solar and wind power company’s performance was general, thebiomass energy companies’performance was worst.Then the multiple regression analysis was used to analyze the relationship betweeninnovation capabilities and business performance.The results showed that innovation capacityof the listed low-carbon companies can promote business performance, And this influencecould delay to performance. The factors of fixed assets depreciation rate and patentapplications had a positive impact on the performance over the same period. The delayedimpact on performance from innovation capacity was more obvious from the factor of R&D investment and patent applications. But direct impact from the talent on performance is notobvious.At last, to improve the ability of low-carbon innovation,some suggestions are putforward. These were to increase innovation capital investment; to nuturer innovativeemployee and build a learning organization; to protect intellectual property and establishincentive mechanism; to improve the efficiency of innovation with market-oriented. The lastsuggestion was that the government should increase its efforts to support low-carboninnovation.