Research On The Influence Of Industrial Policy On The Innovation Efficiency Of Photovoltaic Enterprises

With the global fossil energy consumption rising year by year,countries are generally facing energy shortages and environmental pollution problems,making the development of new and renewable energy sources a global consensus.China also attaches great importance to the development of the new energy industry,and many years ago,the solar photovoltaic industry received a full range of policy support so that the scale of China’s photovoltaic industry continued to expand and the global market share increased year by year.However,the implementation of government support policies has led to an influx of investment into the photovoltaic industry,resulting in low-level duplication and overcapacity,which is not conducive to the sustainable development of China’s photovoltaic industry in the long run.Therefore,it is of great theoretical and practical significance to analyze the mechanism of industrial policy on the innovative development of the PV industry and to urge enterprises to get rid of the policy dependence on local government and take the path of innovative development based on market demand.On the basis of defining relevant concepts,China’s PV industry policies are classified into two categories: strong supportive policies and weak supportive policies,and their mechanisms of action on industrial innovation efficiency are explored,respectively.The mediating mechanism of resource allocation is also explored.Then,using the microdata set of 48 A-share listed PV enterprises from 2010–2021,we measured the innovation efficiency of the PV industry from both static and dynamic aspects by constructing a DEA-Malmquist efficiency measurement model,and we analyzed and evaluated the whole PV industry as well as the upstream,midstream,and downstream enterprises of the industry chain,respectively.Finally,the regression model was constructed to empirically analyze the impact mechanism and intensity of PV industry policies on innovation efficiency,and heterogeneity analysis,mediating effect analysis,and a robustness test were conducted on the regression results.The main research conclusions of this study are as follows:(1)The comprehensive innovation efficiency of the PV industry is relatively low,which is mainly due to the low pure technical efficiency and scale efficiency;the comprehensive innovation efficiency of PV upstream enterprises is high,and the middle and downstream enterprises are relatively low;(2)The strong supportive industrial policy can promote the innovation efficiency of enterprises,and the weak supportive industrial policy inhibits the innovation efficiency of enterprises;(3)In the process of industrial policy’s influence on technological innovation efficiency,enterprise human and capital resource allocation play a mediating role,and enterprise capital resource allocation reflects the mediating effect in strong supportive industrial policy affecting innovation efficiency,and enterprise human resource allocation reflects the mediating effect in weak supportive industrial policy;(4)The results of the heterogeneity analysis show that industrial policy has a significant role in promoting innovation efficiency for upstream and midstream enterprises but not for downstream enterprises.Based on the above findings,countermeasure suggestions to improve the innovation efficiency of the PV industry and promote the development of the PV industry are proposed from the government and enterprise levels,respectively.