Research Article
The Signal Effect of New Energy Vehicles Promotion on Enterprise Innovation
| | Type of variables | Variable | Definition |
| | Dependent variables | Radical innovation (Rad) | The number of patent applications for inventions per year (10,000) | | Incremental innovation (Inc) | The number of annual utility model and design applications (10,000) | | External technology introduction (Ext) | The increase in intangible assets and goodwill (100,000,000) |
| | Independent variables | Promotion of subsidies (Treat ∗ Post) | Equal to 1 if NEV enterprises enter the promotion catalogue and 0 otherwise |
| | Intermediate variables | Corporate profits (Profit) | Net profit (100,000,000) | | Financing constraints (Fin) | Interest expenses/current liabilities |
| | Control variables | Enterprise age (Age) | Ln (year of observation-year of establishment) | | Enterprise scale (Size) | Ln (total assets) | | Debt to asset ratio (Lev) | Ln (total liabilities/total assets ∗ 100) | | Government subsidy (Sub) | Ln (government subsidy/operating income ∗ 100) | | State ownership (Sta) | Ln (number of shares held by the state/total share capital ∗ 100) |
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