R&D Tax Deduction Intensity and Patent-Based Low-Carbon Innovation in Photovoltaic Firms: Structural and Conditional Evidence from China
中国の太陽光発電企業における研究開発税控除の強度と特許ベースの低炭素イノベーション：構造的かつ条件付き証拠 (AI 翻訳)
Zhengyang Luan, Hsing Hung Chen, Ruofei Lan, Chen Song
🤖 gxceed AI 要約
日本語
本研究では、2019～2024年の中国の太陽光発電上場企業71社を対象に、R&D税控除の強度と低炭素イノベーションの関係を分析。全体のイノベーション量には安定的な影響が見られないが、画期的イノベーションを促進し、漸進的イノベーションを抑制する構造的再配分効果を確認。さらに、資金調達制約と補助金政策がこの効果を調整することを明らかにした。
English
This study examines the relationship between R&D tax deduction intensity and low-carbon innovation in 71 Chinese listed photovoltaic firms from 2019 to 2024. It finds no stable effect on overall innovation output, but a structural reallocation from incremental to radical innovation. Financing constraints and government subsidies moderate the effect of tax deductions.
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
日本のR&D税制や再生可能エネルギー政策の設計にも示唆を与える。特に、税制優遇が画期的イノベーションを促す一方で漸進的イノベーションを抑制する点や、資金調達制約・補助金との相互作用は、日本の政策評価でも考慮すべき要素である。
In the global GX context
This paper provides structural evidence from China's PV industry that R&D tax incentives shift innovation from incremental to radical rather than boosting overall output. The findings are relevant for global policy design, especially for countries that combine tax incentives with subsidy programs, highlighting the need for complementary policies.
👥 読者別の含意
🔬研究者:The paper offers nuanced empirical evidence on how tax incentives affect innovation composition, not just quantity, in the PV sector, with implications for policy evaluation methodologies.
🏢実務担当者:Firms may need to align R&D strategy with tax incentives, considering how financing constraints and subsidy interactions can affect the effectiveness of tax deductions.
🏛政策担当者:Policy design should consider innovation structure and complementarities with other instruments like subsidies, as tax deductions alone may not increase overall innovation quantity.
📄 Abstract（原文）
Under the growing pressures of climate change and low-carbon transition, economic policy instruments play an important role in shaping technological innovation in renewable energy industries. This study examines the association between research and development (R&D) tax deduction intensity and patent-based low-carbon innovation among Chinese photovoltaic firms. Using a panel of 71 Chinese A-share listed photovoltaic firms during 2019–2024 and two-way fixed effects models, we find no stable association between R&D tax deduction intensity and firms’ overall innovation output. However, after distinguishing innovation types, R&D tax deduction intensity is positively associated with radical innovation output and negatively associated with incremental innovation output, indicating that R&D tax deduction intensity leads to a structural reallocation of innovation resources rather than a simple expansion of innovation quantity. Further results suggest that financing constraints and the external government subsidy intensity shape the marginal effect of R&D tax deduction intensity. Financing constraints exhibit a relatively stable moderating role, while the effect of the government subsidy intensity becomes more evident when firm financing conditions are jointly considered. These findings highlight the need to evaluate energy-transition policies not only by aggregate innovation output, but also by innovation structure, firm heterogeneity, and complementary policy environments.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.3390/en19143251first seen 2026-07-13 05:54:09
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