关键词:

新创企业, 产品绿色投资, 利润目标, 生存目标, 政策激励

Abstract:

Product green investment （PGI）of start-ups in the post-pandemic era is inhibited and effective government support policies are required. This paper constructs a two-stage model for start-ups in demand uncertainty, and considers the characteristics that financially constrained start-ups will pursue survival under financial constraints in addition to the traditional profit-seeking objective. It introduces two types of policy tools, including financial supports (special funds, and research and development (R&D) subsidies) and information supports (consumption guidance, and information provision), to compare the PGI of start-ups under different operational objectives and supporting policies. The results show that in an environment with market volatility, start-ups under profit-seeking objective will simultaneously increase (decrease) their PGI and pricing relative to a deterministic environment to balance short-term survival pressure and long-term profits, and positively correlate PGI and pricing to balance the survival risk at each stage under profit-seeking objective. In terms of incentive policies, for profit-seeking start-ups, R&D subsidies have a more evident effect than special funds. Consumption guidance can exert a positive regulatory influence, whereas information provision might temporarily inhibit the drive of firms to pursue the risk-reward of green investment in products. For survival-seeking start-ups, special funds yield a more substantial effect than R&D subsidies, and there exists an optimal intensity for consumer guidance and information provision.

Key words:

start-ups, product , green investment, profit-seeking objective, survival-seeking objective, incentive policies