Proceedings of the 2026 4th International Conference on Digital Economy and Management Science (CDEMS 2026)

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Innovation and Financial Performance of New Energy Vehicle Firms Under the Dual-Carbon Goals

--Evidence from the 2012–2024 New Energy Demonstration City Pilot Policy

Authors
Yu Sum Chen1, *
1Macau University of Science and Technology, Department of Accounting, Macau, China
*Corresponding author. Email: ada200335@gmail.com
Corresponding Author
Yu Sum Chen
Available Online 2 June 2026.
DOI
10.2991/978-94-6239-699-9_11How to use a DOI?
Keywords
new energy vehicles; innovation input; financial performance; new energy demonstration cities
Abstract

Under the push of the dual-carbon goals and the broader shift toward green development, the new energy vehicle industry has moved to the center of China’s path to carbon peaking and carbon neutrality. The New Energy Demonstration City Pilot Policy, introduced in 2014, changed how cities used energy, pulled related industries together, and gave green technology more room to grow. It also created a policy setting that mattered for new energy vehicle firms.

What is still less clear is how far this policy changed firms’ innovation spending and financial results, and whether that effect looked the same across different firms. This paper studies Chinese A-share listed new energy vehicle companies from 2012 to 2024 and treats the 2014 policy as a quasi-natural experiment. Using a difference-in-differences model, it looks at the policy’s causal effect on innovation input and overall financial performance.

Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2026 4th International Conference on Digital Economy and Management Science (CDEMS 2026)
Series
Advances in Economics, Business and Management Research
Publication Date
2 June 2026
ISBN
978-94-6239-699-9
ISSN
2352-5428
DOI
10.2991/978-94-6239-699-9_11How to use a DOI?
Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yu Sum Chen
PY  - 2026
DA  - 2026/06/02
TI  - Innovation and Financial Performance of New Energy Vehicle Firms Under the Dual-Carbon Goals
BT  - Proceedings of the 2026 4th International Conference on Digital Economy and Management Science (CDEMS 2026)
PB  - Atlantis Press
SP  - 84
EP  - 96
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-699-9_11
DO  - 10.2991/978-94-6239-699-9_11
ID  - Chen2026
ER  -