Dependent variable
|
RE |
Disbursement to buy or expand assets related to renewable energy matrices |
RE
it
|
(Wu et al., 2020Wu, T., Yang, S., & Tan, J. (2020). Impacts of government R&D subsidies on venture capital and renewable energy investment - An empirical study in China. Resources Policy, 68, 101715. https://doi.org/10.1016/j.resourpol.2020.101715 https://doi.org/10.1016/j.resourpol.2020...
; Yang et al., 2019Yang, X., He, L., Xia, Y., & Chen, Y. (2019). Effect of government subsidies on renewable energy investments: The threshold effect. Energy Policy, 132, 156-166. https://doi.org/10.1016/j.enpol.2019.05.039 https://doi.org/10.1016/j.enpol.2019.05....
) |
Independent variables
|
RandD |
R&D expenditures |
|
(Kose et al., 2020Kose, N., Bekun, F. V., & Alola, A. A. (2020). Criticality of sustainable research and development-led growth in EU: The role of renewable and non-renewable energy. Environmental Science and Pollution Research, 27(11), 12683-12691. https://doi.org/10.1007/s11356-020-07860-y https://doi.org/10.1007/s11356-020-07860...
) |
Asset |
Total asset |
Total Asset
it
|
(Wu et al., 2020Wu, T., Yang, S., & Tan, J. (2020). Impacts of government R&D subsidies on venture capital and renewable energy investment - An empirical study in China. Resources Policy, 68, 101715. https://doi.org/10.1016/j.resourpol.2020.101715 https://doi.org/10.1016/j.resourpol.2020...
; Yang et al., 2019Yang, X., He, L., Xia, Y., & Chen, Y. (2019). Effect of government subsidies on renewable energy investments: The threshold effect. Energy Policy, 132, 156-166. https://doi.org/10.1016/j.enpol.2019.05.039 https://doi.org/10.1016/j.enpol.2019.05....
) |
Concentration |
Proportion of shares held by the main shareholder |
|
(Wu et al., 2020Wu, T., Yang, S., & Tan, J. (2020). Impacts of government R&D subsidies on venture capital and renewable energy investment - An empirical study in China. Resources Policy, 68, 101715. https://doi.org/10.1016/j.resourpol.2020.101715 https://doi.org/10.1016/j.resourpol.2020...
) |
ROE |
Proportion of net profit divided by the average balance of net equity |
|
(Wu et al., 2020Wu, T., Yang, S., & Tan, J. (2020). Impacts of government R&D subsidies on venture capital and renewable energy investment - An empirical study in China. Resources Policy, 68, 101715. https://doi.org/10.1016/j.resourpol.2020.101715 https://doi.org/10.1016/j.resourpol.2020...
; Yang et al., 2019Yang, X., He, L., Xia, Y., & Chen, Y. (2019). Effect of government subsidies on renewable energy investments: The threshold effect. Energy Policy, 132, 156-166. https://doi.org/10.1016/j.enpol.2019.05.039 https://doi.org/10.1016/j.enpol.2019.05....
) |
Growth |
Growth rate of net operating income |
|
(Wu et al., 2020Wu, T., Yang, S., & Tan, J. (2020). Impacts of government R&D subsidies on venture capital and renewable energy investment - An empirical study in China. Resources Policy, 68, 101715. https://doi.org/10.1016/j.resourpol.2020.101715 https://doi.org/10.1016/j.resourpol.2020...
) |
Covid19 |
Dummy that takes the value 1 for the year influenced by the COVID-19 pandemic (2020) |
|
(Amorim et al., 2022Amorim, J. Q., Sales, G. A. W., & Grecco, M. C. P. (2022). Covid-19 e os impactos nas políticas de financiamento e investimento. RAM Revista de Administração Mackenzie, 23(2), eRAMF220225. https://doi.org/10.1590/1678-6971/eramf220225.pt https://doi.org/10.1590/1678-6971/eramf2...
) |
Sector |
Dummy that takes the value 1 for companies that work 100% with power generation |
|
(Yang et al., 2019Yang, X., He, L., Xia, Y., & Chen, Y. (2019). Effect of government subsidies on renewable energy investments: The threshold effect. Energy Policy, 132, 156-166. https://doi.org/10.1016/j.enpol.2019.05.039 https://doi.org/10.1016/j.enpol.2019.05....
) |