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Talent subsidy policy and low-carbon innovation: Evidence from China

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  • Wang, Ling
  • Li, Yuan
  • Huang, Xiaoqiang
  • Wang, Long

Abstract

The establishment of the talent subsidy policy represents a significant initiative in driving China’s sustainable development. Its primary objective is to provide financial support for talent projects and facilitate enterprises in attracting high-quality talent for achieving low-carbon development. However, the effect of talent subsidy policy on the low-carbon innovation of enterprises remains uncertain. To bridge this gap, this research adopts China’s listed firm-level data and examines how the talent subsidy policy affects the low-carbon innovation of enterprises. We observe that this talent subsidy policy promotes firms’ low-carbon innovation. Mechanism analysis indicates that this talent subsidy policy bolsters firms’ low-carbon innovation by mitigating financing constraints, enhancing green transformation, and improving the signaling effect. The heterogeneity analysis indicates that this positive effect is especially significant for non-state-owned enterprises (non-SOEs), companies operating within high-tech sectors, firms led by CEOs with academic backgrounds, and businesses located in regions with limited credit access. These findings provide valuable insights for other economies seeking to promote low-carbon transitions through talent-driven policies.

Suggested Citation

  • Wang, Ling & Li, Yuan & Huang, Xiaoqiang & Wang, Long, 2026. "Talent subsidy policy and low-carbon innovation: Evidence from China," Economic Analysis and Policy, Elsevier, vol. 90(C), pages 1128-1145.
    • Handle: RePEc:eee:ecanpo:v:90:y:2026:i:c:p:1128-1145
    DOI: 10.1016/j.eap.2026.02.006
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