Trade Policy Uncertainty: A Double-Edged Sword for Green Innovation
貿易政策の不確実性：グリーンイノベーションに対する諸刃の剣 (AI 翻訳)
Yuan-chun Yu, Dongming Chen, Hongwen Chen, Juan Zhang, Bohan Yan
🤖 gxceed AI 要約
日本語
本論文は、中国上場企業の年次報告書のテキスト分析に基づき、企業レベルの貿易政策不確実性（TPU）指標を構築。TPUとグリーンイノベーションの間に逆U字型の関係があることを発見。適度なTPUはグリーンイノベーションを促進するが、過度な不確実性は抑制する。研究開発投資や市場支配力がこの関係を増幅し、資金制約は弱める。
English
This study constructs a firm-level trade policy uncertainty (TPU) index using textual analysis of Chinese listed firms' annual reports. It finds an inverted U-shaped relationship between TPU and green innovation: moderate TPU spurs innovation, but excessive uncertainty suppresses it. R&D investment and market power amplify this relationship, while financing constraints attenuate it.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
中国の実証分析ではあるが、日本企業もグローバルな貿易変動に直面しており、同様の逆U字効果が生じる可能性がある。日本企業のグリーンイノベーション戦略を検討する際、TPUの影響を考慮する必要がある。
In the global GX context
This paper contributes to the global literature on policy uncertainty and green innovation, demonstrating a non-linear effect. The findings highlight the double-edged nature of trade volatility for corporate sustainability, relevant for international firms and policymakers navigating trade and climate agendas.
👥 読者別の含意
🔬研究者:Provides a novel methodology for measuring firm-level trade policy uncertainty and empirical evidence on its inverted U-shaped effect on green innovation.
🏢実務担当者:Corporate sustainability teams should monitor trade policy uncertainty as it can either incentivize or hinder green innovation investments.
🏛政策担当者:Suggests that moderate trade frictions may unintentionally promote green innovation, but excessive uncertainty is detrimental; stable trade policies are crucial.
📄 Abstract（原文）
Trade policy uncertainty (TPU) plays an important role in shaping corporate green innovation. Although prior studies have widely examined climate policy uncertainty and carbon emissions trading schemes, the role of trade policy itself remains underexplored. This study fills this gap by constructing a firm-level TPU index based on textual analysis of annual reports from Chinese listed firms. The results reveal an inverted U-shaped relationship. Moderate TPU encourages green innovation, while excessive uncertainty suppresses it. These findings are robust across alternative specifications. Further moderating effect analysis shows that R&D investment and market power amplify the inverted U-shaped relationship between TPU and green innovation. In contrast, financing constraints attenuate this relationship. Heterogeneity tests corroborate the robustness of these moderating effects. This study deepens our understanding of corporate green transition and provides policy implications for sustaining innovation under global trade volatility.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.3390/su18063026first seen 2026-05-15 17:25:16
🔔 こうした論文の新着を逃したくない方は キーワードアラート に登録（無料・3キーワードまで）。
gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。