Scholarlink

<p>Despite the prevailing discourse emphasizing the importance of green innovation efficiency (GIE) in emerging and developed economies, both its theoretical framework and empirical evidence remain underdeveloped in developing economies, particularly in the context of Pakistan. To bridge this knowledge gap, this study, grounded in the resource-based view and institutional theory, examines the impact of R&amp;D expenditure, capital investment, and green subsidies on GIE, focusing on a firm’s green innovation (GI) and financial performance (FP). Using a sample of 338 listed enterprises in the Pakistan Stock Exchange from 2008 to 2020, the proposed hypotheses are analyzed using Poisson regression analyses. Findings suggest that R&amp;D expenditure, capital investment, and green subsidies positively and significantly influence GI and FP. Additional heterogeneity analyses indicate that this relationship is stronger in non-state-owned enterprises compared to state-owned enterprises, more pronounced in small and medium enterprises than in large enterprises, and more significant in high-polluting industries relative to low-polluting industries. This study contributes and sheds new insights into green efficiency literature by explaining how R&amp;D expenditure, capital investment, and green subsidies influence GIE in developing economies.</p>

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

The impact of R&D expenditure, capital investment, and green subsidies on green innovation efficiency: evidence from Pakistani manufacturing enterprises

  • 期刊论文

  • 发表日期：

    2026年1月2日

查看全文
  • Zhaohui Qin,
  • Zeeshan Ali,
  • Adnan Ali,
  • Qadeer Abdul

摘要

Despite the prevailing discourse emphasizing the importance of green innovation efficiency (GIE) in emerging and developed economies, both its theoretical framework and empirical evidence remain underdeveloped in developing economies, particularly in the context of Pakistan. To bridge this knowledge gap, this study, grounded in the resource-based view and institutional theory, examines the impact of R&D expenditure, capital investment, and green subsidies on GIE, focusing on a firm’s green innovation (GI) and financial performance (FP). Using a sample of 338 listed enterprises in the Pakistan Stock Exchange from 2008 to 2020, the proposed hypotheses are analyzed using Poisson regression analyses. Findings suggest that R&D expenditure, capital investment, and green subsidies positively and significantly influence GI and FP. Additional heterogeneity analyses indicate that this relationship is stronger in non-state-owned enterprises compared to state-owned enterprises, more pronounced in small and medium enterprises than in large enterprises, and more significant in high-polluting industries relative to low-polluting industries. This study contributes and sheds new insights into green efficiency literature by explaining how R&D expenditure, capital investment, and green subsidies influence GIE in developing economies.