Research On The Impact Of New Energy Investment On Industrial Green Development

China's rapid economic and social development is inseparable from the support of the energy industry.China's energy production,consumption and imports are the highest among the world.The energy industry provides materials for social progress and the development of various industries.However,traditional disposable energy can no longer meet our pursuit of a green economy in today's society with rapid economic development.At the same time,industrial green development is directly put up as the ultimate goal of industrial development in the report “Industrial Green Development Plan(2016-2020)” formulated by the Ministry of Industry and Information Technology.Therefore,guiding China's energy industry to a more reasonable structural model has become a strategic issue for the stable development of China's energy industry.In recent years,under the boom of capital for profit,more and more funds have flowed into the new energy industry.While providing funding for the development of the new energy industry,it has also brought overcapacity.Can these capital investments bring industry Green development is an issue worth exploring.This article first reviews the relevant research at home and abroad,collates the current academic research on the measurement methods and influencing factors of industrial green development level,and uses these influencing factors as the control variables below.Based on the related theories of industrial green development,the transmission mechanism of new energy investment for industrial green development is elaborated,as well as the role of different enterprise scales and government subsidies on the scale of new energy investment and industrial green development are explained.Secondly,constructing the industrial green development level evaluation index.According to the summary of the combing literature,this paper constructs an indicator system from the input index—industrial energy consumption,labor input,industrial capital input and output index — industrial added value and Pollutant emissions.Selecting the corresponding indicators to build an indicator system,and then use the DEA-Malmquist method to measure the industrial green development level of 29 provinces and municipalities in China(excluding Tibet and Qinghai)from 2008 to 2017.At the same time,using the expert scoring method for comparison.The scale of new energy investment is represented by the annual expenses for the purchase of fixed assets,intangible assets,deferred assets and other long-term assets are divided by enterprise total assets among new energy listed companies.Then analyzing their current status based on the measured industrial green development performance index and new energy investment scale data.Then carrying out empirical research on the of the scale of new energy investment on industrial green development,and using the factors affecting the green development level of industry discovered by the previous scholars as control variables.Selecting the provincial panel data from 2008 to 2017,and using the GMM method to regress and analyze the national samples and regional samples.According to the theoretical analysis,there may be a non-linear relationship between the scale of enterprises,government subsidies,the scale of new energy investment,and the level of industrial green development.Therefore,this paper selects a panel threshold model to discuss the threshold effects of enterprise scale and government subsidies respectively.Through the empirical analysis of GMM method,this paper finds that in the national sample,there is a significant positive relationship between the scale of new energy investment and industrial green development,while is negative in the west in regional sample.The impact of regional economic development level,industrial structure,and technological innovation on the level of industrial green development is consistent in the national and regional samples,but the degree of effect is significantly different;the effect of environmental regulations on the level of industrial green development is negative in the central.Within the district system of different enterprise sizes,the extent to which new energy investment scale affects the level of industrial green development is different,showing a “U” relationship,that is,the size of the enterprise affects the promotion or inhibition of industrial green development by the scale of new energy investment.There is no threshold for government subsidies.Finally,based on the above theoretical and empirical analysis results,this article again summarizes and comprehensively analyzes the impact of new energy investment scale and control variables on industrial green development.Based on the empirical results of the scale of new energy investment and industrial green development,specific policy recommendations are proposed,such as encouraging investment in new energy companies,improving energy efficiency and supporting the development of group companies.I hope this paper can play the positive role of new energy investment in industrial green development.The thesis has 5 figures,20 tables and 122 references.