The path towards renewable energy: business transformation processes and inefficient investment
再生可能エネルギーへの道：事業転換プロセスと非効率的投資 (AI 翻訳)
M. Li, Boqiang Lin
🤖 gxceed AI 要約
日本語
本研究は中国の再生可能エネルギー上場企業を対象に、事業拡大と非効率的投資の関係を分析。段階的投資型企業では逆U字型の関係が見られる一方、M&A型では有意な関係がないことを発見。政府の役割が参入障壁を緩和することも示唆。
English
This study examines the relationship between business expansion and inefficient investment among China's listed renewable energy firms. It finds an inverted U-shaped relationship for phased investment firms but no significant link for M&A-type firms. Government roles can mitigate entry barriers.
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
日本でも再エネ事業への参入障壁が議論されており、本稿の知見は日本企業の事業転換戦略や政府支援策の設計に示唆を与える。
In the global GX context
This paper provides empirical evidence on investment inefficiencies in renewable energy transitions, relevant for global policy design and corporate strategy in emerging green markets.
👥 読者別の含意
🔬研究者:Provides empirical evidence on entry barriers and investment inefficiency in renewable energy firms.
🏢実務担当者:Highlights different strategies (phased vs M&A) and their impact on investment efficiency for corporate transition.
🏛政策担当者:Shows how government intervention can alleviate entry barriers, informing renewable energy policy design.
📄 Abstract（原文）
Abstract The pressing demand for decarbonization within the context of economic development has generated substantial opportunities for the rapid growth of renewable energy. Consequently, further research is essential to promote the advancement of the renewable energy sector, with a crucial emphasis on understanding the barriers firms face when entering this field. This study investigates the aforementioned issue by examining the relationship between business expansion and inefficient investment among China's listed renewable energy companies. First, we compared phased investment (PI-type) and merger-and-acquisition (M&A-type) renewable energy enterprises. The preliminary results revealed the presence of entry barriers: the inefficient investment of PI-type enterprises exhibited an inverted U-shaped relationship with the expansion of their renewable energy business, whereas there was no significant relationship for M&A-type enterprises. Furthermore, we examined the underlying causal relationships by accounting for industry trends and constructing instrumental variables. Additionally, we conduct a moderation effect analysis on the nonlinear relationship based on traditional theories of enterprise business expansion and market competition. By comparing PI-type with M&A-type enterprises, we provide new empirical evidence supporting traditional theoretical frameworks. Finally, considering the unique characteristics of the renewable energy industry, we examine how three types of government roles mitigate entry barriers. These conclusions serve as a reference for governments to formulate policies for renewable energy development and help enterprises understand the trade-offs in transitioning into emerging industries.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1186/s40854-026-00923-yfirst seen 2026-05-17 04:39:04
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