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Analysis reveals declining green innovation efficiency in specialized and new enterprises in Zhejiang, suggesting R&D investment is vital.
Based on data from 40 Specialized and New Enterprises (SNEs) in Zhejiang from 2017 to 2021, green innovation efficiency (GIE) is assessed by Charnes–Cooper–Rhodes and super-Slack-Based Measure models, and influencing factors of GIE are analyzed using the Systematic Generalized Method of Moments Dynamic model to address the improvement of GIE in SNEs. The conclusions include: (i) the GIE is declining from 2017 to 2021 and could be improved in the future, especially for SNEs in Zhejiang. (ii) As for influencing factors, research and development investment, industry-university-research collaboration, and government support have positive effects, while enterprise scale has a negative effect of restraining the development of green innovation of SNEs in Zhejiang. Therefore, several countermeasures, including establishing sound scientific research mechanisms, forming cooperation mechanisms among enterprises, research institutes, and colleges and universities, strengthening government support, and improving the government’s subsidy policy, are being put forward. Scientific basis and practical guidance are provided to enhance the green innovation capability of enterprises and the formulation of relevant policies by the government.
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Li et al. (2025) studied this question.
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