This paper explores the impact of government environmental protection subsidies on corporate green inno- vation using panel data of listed companies from 2007 to 2019. The results show that such subsidies can sig- nificantly promote corporate green innovation, and the results are robust. Financing constraints, research and development (R&D) willingness, and resource allocation efficiency are important variables for govern- ment environmental protection subsidies to promote corporate green innovation. Further analysis shows that compared with industrial policies at the provincial level, the key...
