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Made in China 2025 (MIC 2025), an industrial policy, aims to position China among the global leading manufacturing powers. Different from other industrial policies in China, MIC 2025 is implemented by policy experimentation of pilot cities, which gives priority to the local governments. However, whether MIC 2025 pilot cities promote firm innovation...
Citations
... This cluster examines how national policies, corporate structures, and cultural factors influence innovation outcomes, using patent data as a key metric. It explores the effects of initiatives like "Made in China 2025" (Chen K. J. et al., 2024) and US-China technology decoupling on firm performance and innovation (Han et al., 2024). The research investigates how corporate risk culture impacts innovation, particularly in innovative industries, and how different organizational forms (such as conglomerates and venture capital backing) affect R&D productivity. ...
Patent analytics is crucial for understanding innovation dynamics and technological trends. However, a comprehensive overview of this rapidly evolving field is lacking. This study presents a data-driven analysis of patent research, employing citation network analysis to categorize and examine research clusters. Here, we show that patent research is characterized by interconnected themes spanning fundamental patent systems, indicator development, methodological advancements, intellectual property management practices, and diverse applications. We reveal central research areas in patent strategies, technological impact, and patent citation research while identifying emerging focuses on environmental sustainability and corporate innovation. The integration of advanced analytical techniques, including AI and machine learning, is observed across various domains. This study provides insights for researchers and practitioners, highlighting opportunities for cross-disciplinary collaboration and future research directions.
... Accordingly, tax incentives play an important role in stimulating corporate technological innovation and support the economic growth process. The results of many similar studies on the subject have revealed that tax increases interrupt the innovation process, while tax cuts support the innovation process (Atanassov and Liu 2020;Chen et al. 2024;Lu and Cheng 2024). ...
This study aims to reveal whether taxes are blessings or curses based on the distinction between direct and indirect taxes. As in the past, taxation is an indispensable instrument of government policy in today’s modern state administration models. Since taxation is an inevitable phenomenon, designing an effective and efficient tax policy is an important decision process in economic development. This study will serve as a source for formulating an effective fiscal policy. Within the scope of the study, 1998/Q1 period and 2023/Q2 quarterly data for Turkiye are used. The tax curse hypothesis is analyzed using Prais-Winsten and Cumulative Fourier-frequency Toda & Yamamoto Test methods. In addition, the long-run performance of the relationship between the variables used in the model was evaluated by Wavelet Transform Coherence (WTC) analysis. The results of the analysis reveal that direct taxes have a negative impact on economic growth and thus the tax curse hypothesis is valid, while there is no tax curse in terms of indirect taxes. The study also reveals that direct taxes have a devastating effect in economies that are in the middle of the economic growth process and have a high growth rate, but this effect is not permanent and disappears after a while. The results are important in terms of guiding the formulation of government policies and the formulation of effective tax policies, especially for developing countries.
... Among these actors, the government usually plays a special role, its policies can influence the technological regime and market regime then further affect firm activities and performance. For example, industrial policy experimentation of Made in China 2025 effectively promotes the innovation of enterprises (Chen et al., 2024). We focus on the path-creating strategy of enterprises, but we should not ignore the influence of some factors of enterprises themselves on the catch-up of late-comers, such as the age of enterprises (Tripsas and Gavetti, 2000;Forés and Camisón 2016), firm size-related factors (Stock et al., 2002), R&D investment (Jankowski, 1998;Schoenecker and Swanson, 2002;Yanadori and Cui, 2013), such as R&D investment, R&D personnel, and specialized complementary assets (Taylor and Helfat, 2009;Chiu et al., 2008;Reinauer and Hansen, 2021), absorptive capacity (Cohen and Levinthal, 1990;Joo et al., 2016), external technology dependence (Lee, 2013), diversity of technology (Chiu et al., 2008), originality of the knowledge base (Trajtenberg et al., 1997;Park and Lee, 2006). ...
... Jung and Lee (2010) find that catchup is more likely to occur in sectors where technology is more clearly defined and easily embodied in machines and equipment, and where such technology is imported from abroad. The research of Chang et al. (2015) shows that the increase in appropriability will reduce the possibility of change in technology leaders because the increase of appropriability reduces the network externality and hinders the possibility of knowledge acquisition by later-coming firms through imitation. But for latecomers adopting a path-creation strategy, the high appropriability economic environment protects their innovation under the new technology paradigm, which is conducive to their capacity building of them. ...
... The cumulative nature of technological progress, the appropriability of technological innovation and the nature of the knowledge base supporting firms' innovation activities influence the innovation activities of emerging economies and their chances of catching up successfully (Lee et al., 2009;Chang et al., 2015). Industries with high technological cumulativeness tend to benefit mature technology leaders, because existing innovators form innovation advantages through cumulativeness of technical knowledge and ability, and innovation advantages have an impact on their competitiveness and further become a strong barrier for new innovators to enter (Malerba, 2002). ...
In this paper, the traditional econometrics method and causal machine-learning method are combined to study the mechanism of a path-creating strategy of latecomers to influence latecomers’ catch-up performance. A total of 283 high-tech manufacturing enterprises listed on the Shanghai and Shenzhen stock exchanges from 2007 to 2019 were selected for the study. OLS linear regression model verifies that path-creating has a positive impact on latecomers’ technological catch-up performance, technological capability plays an intermediary role between path-creating and technology catch-up performance, technological innovation appropriability positively moderates the effect of path-creating on technological capability, and technological innovation cumulativeness negatively moderates the effect of path-creating on technological catch-up but positively moderate the effect of technological capability on catch-up performance. Through machine learning, on the one hand, a conclusion basically consistent with the linear regression model is obtained, but on the other hand, a more heterogeneous situation is presented. Through analyses of the individual treatment effect of a path-creating strategy of latecomers, the Shapley value graph shows the complex influence of different features on the treatment effect of the enterprise using the path-creating strategy. Through the decision tree, some more complex patterns are found. In addition, the decision tree model based on causal analysis can also assist enterprises in making strategic decisions.
... As the world's second-largest economy, China is undergoing a critical transformation from 'Made in China' to 'Created in China' [24]. Innovation has become a core competitiveness for corporations to maintain high-quality and sustainable development [25]. ...
... Referring to the previous research experience and combined with the research content of this paper, we choose the Huazheng ESG rating system [58,59], which gives nine grades of "AAA-C" rating to the evaluated subject, and the corresponding value of this paper is 9 to 1. The higher the score, the better the ESG performance of the evaluated subject [24]. The Huazheng ESG rating system draws on the core essence of international ESG, combines the current situation of China's information disclosure and corporate characteristics, and builds a top-down evaluation system. ...
ESG (Environmental, Social, and Governance) performance is an essential indicator for measuring the sustainability of corporations. It has received increased attention from capital market participants after the proposal of the ‘dual carbon’ goal. Innovation is a necessary skill for corporations to compete in the market. Therefore, this study investigates the impact of innovation on the ESG performance of corporations based on the dual incentive perspective of government subsidies and equity incentives. Using data of China’s A-share main board listed corporations from 2017 to 2022, OLS (Ordinary Least Squares) models are constructed to conduct empirical research. The results show that enhanced innovation can significantly improve corporate ESG performance. This paper also conducts other tests to ensure the robustness of the findings and address potential endogeneity issues. Further analysis shows that both using government subsidies as external incentives and using equity incentives as internal incentives can positively moderate the above findings. Heterogeneity analyses discover that government subsidies granted to asset-advantaged corporations have a more substantial moderating effect than those granted to asset-weakened corporations; equity incentives granted to core technical staff have a more substantial moderating effect than those granted to executives. The concept that innovation with dual incentives can enhance corporate ESG performance can aid in developing programs to improve their ESG performance and generate novel ideas for high-quality, sustainable development.
... Since the industrial policy of Made in China 2025 was proposed, scholars have predominantly focused on exploring its economic effects on technological innovation 27 , digital transformation 28 , and total factor productivity (TFP) 29 , while the potential environmental effects have been neglected. Chen et al. (2024) 30 found that Made in China 2025 promotes firm innovation through tax incentives, public subsidies, convenient financing, academic collaboration and talent incentives. Xu (2022) 31 point out that Made in China 2025 policy has the potential to substantially improve the green innovation of manufacturing enterprises, which can boost the green transformation and upgrading of China's manufacturing industry. ...
... Since the industrial policy of Made in China 2025 was proposed, scholars have predominantly focused on exploring its economic effects on technological innovation 27 , digital transformation 28 , and total factor productivity (TFP) 29 , while the potential environmental effects have been neglected. Chen et al. (2024) 30 found that Made in China 2025 promotes firm innovation through tax incentives, public subsidies, convenient financing, academic collaboration and talent incentives. Xu (2022) 31 point out that Made in China 2025 policy has the potential to substantially improve the green innovation of manufacturing enterprises, which can boost the green transformation and upgrading of China's manufacturing industry. ...
The transformation and upgrading of China’s manufacturing industry is supported by smart and green manufacturing, which have great potential to empower the nation’s green development. This study examines the impact of the Made in China 2025 industrial policy on urban green economic growth. This study applies the super-slacks-based measure model to measure cities’ green economic growth, using the double machine learning model, which overcomes the limitations of the linear setting of traditional causal inference models and maintains estimation accuracy under high-dimensional control variables, to conduct an empirical analysis based on panel data of 281 Chinese cities from 2006 to 2021. The results reveal that the Made in China 2025 strategy significantly drives urban green economic growth, and this finding holds after a series of robustness tests. A mechanism analysis indicates that the Made in China 2025 strategy promotes green economic growth through green technology progress, optimizing energy consumption structure, upgrading industrial structure, and strengthening environmental supervision. In addition, the policy has a stronger driving effect for cities with high manufacturing concentration, industrial intelligence, and digital finance development. This study provides valuable theoretical insights and policy implications for government planning to promote high-quality development through industrial policy.
This paper firstly examines the development history of China's equipment manufacturing industry and the research status quo of domestic and foreign information technology upgrading of equipment manufacturing industry, then gives the definition of information technology and equipment manufacturing industry upgrading, clearly points out the shortcomings of China's information technology development and analyses the mechanism of information technology upgrading of equipment manufacturing industry, and finally explores two paths for the upgrading of production equipment and upgrading of production processes, and gives differentiated solutions for regional development imbalance of the boosting path gives a differentiated programme. This paper provides theoretical references for the development of this field in China by exploring specific paths on the basis of the research on the mechanism of information technology's facilitating effect on the equipment manufacturing industry at home and abroad.
