ARTICLE

Volume 9,Issue 9

All Issues
Submit to PBES
Cite this article
20
Citations
78
Views
31 December 2025
Research on the Impact of Government Subsidies on Total Factor Productivity of the New Energy Industry Under the “Dual Carbon” Vision
Xueting Zhang
Show Less
1 Hebei GEO University, Shijiazhuang 052160, Hebei, China,
PBES 2025 , 8(8), 166–171; https://doi.org/10.26689/pbes.v8i8.13388
© 2025 by the Authors. Licensee: Bio-Byword Scientific Publishing Pty Ltd, Australia. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution 4.0 International License ( https://creativecommons.org/licenses/by/4.0/ )
Download PDF
Cite
XML
HTML
Abstract

The Fifth Plenary Session of the 19th Central Committee of the Communist Party of China pointed out that the new energy industry has broad prospects and is expected to accelerate its development during the “14th Five-Year Plan” period. Whether new energy resources can be allocated more reasonably, how total factor productivity (TFP) changes, and what characteristics its driving factors have are crucial to the future development of new energy. This study selects data of A-share listed new energy enterprises from 2012 to 2023 as samples to explore the impact and mechanism of government subsidies on the TFP of new energy enterprises, and constructs a mediating effect model. The research results show that alleviating financing constraints plays a full mediating role in the process of government subsidies promoting the improvement of enterprises’ total factor productivity. Therefore, the government should improve the subsidy mechanism, and enterprises should increase investment in innovation and R&D to continue promoting the improvement of enterprises’ total factor productivity.

References
Xu K, 2023, An Empirical Study on the Relationship Between Government Subsidies, Ambidextrous Innovation and Enterprise Total Factor Productivity. Technology and Market, 30(11): 9–15.
Wang Y, Li R, 2024, Research on the Impact of Government Subsidies on the Total Factor Productivity of New Energy Enterprises. Management and Administration, 2024: 1–12.
Yang H, Li T, Liu Y, 2024, The Impact of Technological Innovation Investment of New Energy Enterprises on Total Factor Productivity: From the Perspective of Financing Constraints and Government Subsidies. Journal of Xi’an Shiyou University (Social Sciences Edition), 33(4): 76–83.
Wang M, 2019, Research on the Impact of Financing Constraints on the Total Factor Productivity of the New Energy Industry, thesis, China University of Petroleum (East China).
Ding Z, Sun Y, Liu M, 2024, How Government Subsidies Facilitate Enterprise Digital Transformation: A Perspective on Reducing Operating Risks. Modern Commerce and Industry, 2024(24): 185–187.
Wei L, Liu C, 2024, Has Government Subsidies Promoted the Development of New Energy Enterprises Under the “Dual Carbon” Vision. Enterprise Economy, 43(6): 13–25.
Chen F, 2022, Research on the Impact of Corporate Governance Level on the High-Quality Development of Manufacturing Enterprises, thesis, Hunan University.
Pang J, Zhang H, 2022, Government Subsidies, Digital Inclusive Finance and Total Factor Productivity of Private Enterprises: An Empirical Analysis Based on Regulatory Effect and Threshold Model. Journal of Harbin University of Commerce (Social Sciences Edition), 2022(5): 19–34.
He W, Xu S, 2024, Government Subsidies and the Improvement of Enterprise Total Factor Productivity: Empirical Evidence from Chinese A-Share Manufacturing Enterprises. Journal of Xidian University (Social Sciences Edition), 34(3): 1–12.
Lu C, Wang C, Jiang C, 2023, Government Subsidies, Innovation Investment and Total Factor Productivity of Manufacturing Enterprises. Review of Economy and Management, 39(1): 50–61.
Share
Back to top
We use cookies on our website to ensure you get the best experience.
Read more about our cookies here
Accept