Study on the efficiency and regional disparity of green technology innovation in China's industrial companies

This paper first constructed a system to evaluate the innovation efficiency of industrial companies within China's Mainland.Then,a principal component analysis(PCA) was performed to these indicators for dimensionality reduction,so as to figure out the technology innovation efficiency in these two phases,respectively.Finally,the overall efficiency of industrial companies in different regions was estimated and factorized via data envelopment analysis(DEA).The results showed that:(1)the efficiency of green technology innovation of industrial companies in China was relatively low as a whole,which mainly resulted from pure technical efficiency(PTE).Further,this huge gap continues to expand in these regions.And both PTE and scale efficiency(SE) in central and western regions leave much to be expected.(2)In the first phase of green technology development,when environmental factors were concerned,the efficiency was much lower than that without environmental considerations.Besides,the central and western regions were facing increasingly severe environmental problems,and there was a wide disparity in technology development efficiency among eastern,central,and western regions.(3)In the second phase of green technology commercialization,there were still more rooms for improvement in raising the efficiency of green technology innovation,and the efficiency in eastern,central,and western regions was ranked from highest to lowest.(4)Liaoning,Hebei,Heilongjiang,Xinjiang,Shanxi,Inner Mongolia,Yunnan,and Qinghai should focus on improving their technology;Jilin,Jiangxi,Anhui,and Guangxi should make their efforts to reduce resource redundancy;whereas Ningxia and Gansu should try to solve the above two issues.

Current Status of Green Financing in Korea and Political Implications

This research shows the current status and the future prospects of green financing in Korea. Green financing is currently on the initial stage in Korea, just like the green growth policy. Thus, banks are contextually not willing to invest or loan in the green technology or industry for profitability, because the high uncertainty （risk） exists and because Korean people have little concern on green financing, though they have recognized the necessity of green growth. Therefore, the reinforcement of government＇s role is suggested in this research. The public financial agencies are now very important in popularizing the green financing in Korea, and the most effective policy will be the credit guarantee for green technologies or companies provided by public agencies, as shown in the financing policy for the small and middle enterprises. Regarding public efforts, banks should try to perform green financing for both their own profitability and social benefit together with the step-by-step approach, according to the growth stage of green industry and green financing.