双积分政策是否促进了新能源汽车企业创新的“量质齐升”

Did the Dual-Credit Policy Promote the"Quality and Quantity"of Innovation in New Energy Vehicle Enterprises

基于2011—2022年A股100家新能源汽车上市公司,采用双重差分法实证研究了双积分政策的出台对于新能源汽车企业创新数量与创新质量的影响。研究发现:(1)自2017年双积分政策出台后,新能源汽车企业的创新数量与质量得到显著提升,经过一系列稳健性检验后结论依然稳健;(2)机制分析发现,双积分政策通过增加新能源汽车企业的研发投入、提升新能源汽车企业的社会责任来提升其创新数量与质量;(3)异质性分析发现,双积分政策的出台对于非国有企业的促进作用大于国有企业,对于东部地区的促进作用大于非东部地区。

Based on 100 listed A-share companies of new energy vehicles from 2011 to 2022,this paper empirically inves-tigated the impact of the dual-credit policy on the quantity and quality of innovation of new energy vehicle companies using the differences-in-differences method.It is found that:①Since the introduction of the dual-credit policy in 2017,the quantity and quality of innovations by new energy vehicle companies have been significantly improved,and the conclusions remain robust after a series of robustness tests.②The mechanism analysis finds that the dual-credit policy improves the quantity and quality of innovation by increasing the R&D investment and social responsibility of new energy vehicle enterpri-ses.③The heterogeneity analysis finds that the promotion effect of dual-credit policy is greater for non-state-owned enter-prises than for state-owned enterprises;the promotion effect is greater for eastern regions than for non-eastern regions.