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Analysis of spatial heterogeneity and driving factors of capital allocation efficiency in energy conservation and environmental protection industry under environmental regulation

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  • Geng, Chengxuan
  • Cui, Zongying

Abstract

The paper integrates the economics and geography theoretical methods, and takes the data of 119 Chinese A-share listed companies in the energy conservation and environmental protection industry from 2008 to 2017 as the research sample, analyzes the spatial heterogeneity of industrial capital allocation efficiency and its driving factors from the perspective of environmental regulation. The GWR model is constructed to study the effect of driving factors on the capital allocation efficiency of each province and visualize the spatial distribution state of driving factors. The results show that the capital allocation efficiency of China's energy conservation and environmental protection industry shows a trend of increasing volatility, but there are obvious spatial dynamic differences in different provinces. Environmental regulation has a significant positive impact on regional capital allocation efficiency and enhances the effect and spatial heterogeneity of other drivers. Infrastructure condition and financial development have a significant positive effect on regional capital allocation efficiency, and both tend to decline from east to west. While the government support has a low impact and the scope of fluctuation and spatial heterogeneity is small, indicating that the relevant government support policies still lack the pertinence and effectiveness of local conditions.

Suggested Citation

  • Geng, Chengxuan & Cui, Zongying, 2020. "Analysis of spatial heterogeneity and driving factors of capital allocation efficiency in energy conservation and environmental protection industry under environmental regulation," Energy Policy, Elsevier, vol. 137(C).
    • Handle: RePEc:eee:enepol:v:137:y:2020:i:c:s0301421519306688
    DOI: 10.1016/j.enpol.2019.111081
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    References listed on IDEAS

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    1. Zhang, Yixiang & Xiong, Yali & Li, Feng & Cheng, Jinhua & Yue, Xiaochen, 2020. "Environmental regulation, capital output and energy efficiency in China: An empirical research based on integrated energy prices," Energy Policy, Elsevier, vol. 146(C).
    2. Zijing Cao & Huiming Zhang & Zixuan Hang & Dequn Zhou & Buhang Jing, 2022. "Does the Responsibility System for Environmental Protection Targets Enhance Corporate High-Quality Development in China?," Energies, MDPI, vol. 15(10), pages 1-18, May.
    3. Changsheng Jin & Yuxi Liu & Zhongwu Li & Rizhao Gong & Mei Huang & Jiajun Wen, 2022. "Ecological consequences of China’s regional development strategy: evidence from water ecological footprint in Yangtze River Economic Belt," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(12), pages 13732-13747, December.
    4. Sylvia Kor & Md. Qamruzzaman, 2024. "Decoding the Environmental Synergy in BRI Nations: Analyzing the Influence of Renewable Energy Adoption, Financial Evolution, FDI, and Capital Resilience on Sustainability," International Journal of Energy Economics and Policy, Econjournals, vol. 14(3), pages 582-599, May.
    5. Xu Dong & Yali Yang & Qinqin Zhuang & Weili Xie & Xiaomeng Zhao, 2022. "Does Environmental Regulation Help Mitigate Factor Misallocation?—Theoretical Simulations Based on a Dynamic General Equilibrium Model and the Perspective of TFP," IJERPH, MDPI, vol. 19(6), pages 1-21, March.
    6. Jie Jiao & Jiyuan Zhang & Jie Yang & Wenwen Zhang & Fengtao Guang & Liying Liu, 2023. "The Study of Carbon Neutralization Effects with Green Credit: Evidence from a Panel Data Analysis for Interprovinces in China," Sustainability, MDPI, vol. 15(17), pages 1-20, September.
    7. Liu, Yang & Dong, Kangyin & Dong, Xiucheng & Taghizadeh-Hesary, Farhad, 2024. "Towards a sustainable electricity industry in China: An appraisal of the efficacy of environmental policies," Utilities Policy, Elsevier, vol. 86(C).
    8. Malinauskaite, Jurgita & Jouhara, Hussam & Egilegor, Bakartxo & Al-Mansour, Fouad & Ahmad, Lujean & Pusnik, Matevz, 2020. "Energy efficiency in the industrial sector in the EU, Slovenia, and Spain," Energy, Elsevier, vol. 208(C).
    9. Xiao Yu & Zhaoteng Zeng, 2024. "Impact of heterogeneous environmental regulation on total factor productivity: an empirical study based on China’s provincial data," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(7), pages 17813-17835, July.
    10. Wang, Hu, 2023. "Does the financial investment preference of renewable energy firms promote their advance towards sustainable development goals?," Renewable Energy, Elsevier, vol. 218(C).
    11. Zhang, Shangfeng & Chen, Congcong & Xu, Siwa & Xu, Bing, 2021. "Measurement of capital allocation efficiency in emerging economies: evidence from China," Technological Forecasting and Social Change, Elsevier, vol. 171(C).
    12. Emodi, Nnaemeka Vincent & Haruna, Emmanuel Umoru & Abdu, Nizam & Aldana Morataya, Sergio David & Dioha, Michael O. & Abraham-Dukuma, Magnus C., 2022. "Urban and rural household energy transition in Sub-Saharan Africa: Does spatial heterogeneity reveal the direction of the transition?," Energy Policy, Elsevier, vol. 168(C).

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