Abstract
How to utilize human, financial, and material resources reasonably in the technological innovation of new energy vehicles to obtain the maximum benefit with the least investment is an important issue that needs to be solved urgently. This paper employs the stochastic frontier model to analyze the innovation efficiency and its influencing factors of new energy vehicles in China. The investment of innovation is divided into four dimensions: human resource input, R&D input, technology acquirement input and environment support input. The results demonstrate that the mean of innovation efficiency of the new energy vehicle industry is low in general. The Yangtze River Delta and Pearl River Delta regions have the highest innovation efficiency comparable to that of other regions. There is a significant positive impact of asset turnover ratio, per capita compensation of management, and education level on innovation efficiency. The effects of asset-liability ratio and government support on innovation efficiency are not significant. But the government support has a significant positive moderation effect on innovation efficiency through financial factors. Based on the conclusions, this paper proposes insights to promote the development of the new energy vehicle industry.
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Abbreviations
- ALR:
-
Asset-liability ratio
- ATR:
-
Asset turnover ratio
- BEV:
-
Battery electrical vehicle
- DEA:
-
Data envelopment analysis
- DEV:
-
Dimethyl ether vehicle
- Edu:
-
Education level
- FCEV:
-
Fuel cell electric vehicle
- Gov:
-
Government support
- HEV:
-
Hydrogen engine vehicle
- HV:
-
Hybrid vehicle
- IE:
-
Innovation efficiency
- K:
-
Capital input
- NEV:
-
New energy vehicle
- Pay:
-
Per-capita compensation of management
- PCA:
-
Principal component analysis
- PHEVs:
-
Plug-in hybrid-electric vehicles
- RD:
-
R&D input
- SFA:
-
Stochastic frontier analysis
- TA:
-
Technology acquisition
- Y:
-
Industrial gross value
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Acknowledgements
We sincerely thank the editor and reviewers for their very valuable and professional comments.
Funding
This work was funded by Youth Project of Humanities and Social Sciences of Ministry of Education in China [grant number 18YJC630213]; China Postdoctoral Science Foundation [grant number 2020M670473]; National Social Science Foundation of China [grant number 19CGL030]; Natural Science Foundation of Hunan Province [grant number 2019JJ50382]; and Key Project of Hunan Education Department [grant number 19A292].
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Xu, X.L., Chen, H.H. Exploring the innovation efficiency of new energy vehicle enterprises in China. Clean Techn Environ Policy 22, 1671–1685 (2020). https://doi.org/10.1007/s10098-020-01908-w
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DOI: https://doi.org/10.1007/s10098-020-01908-w