2026-10-07T06:04:33Z https://api.figshare.com/v2/oai

oai:figshare.com:article/34001031 2026-09-25T18:57:19Z category_26014 item_type_3 month_year_09_2026

The Maturity Structure of Green Subsidies:}\\ 博 王 (25111908) Cross-sectional analysis green subsidy policies <p dir="ltr">Should governments concentrate green subsidies at project launch, or reserve</p><p dir="ltr">funds for later investment? This choice is consequential when success depends</p><p dir="ltr">on complementary projects. In Chinese firm data, fewer firms receive</p><p dir="ltr">innovation subsidies five years after entry, yet average awards, including</p><p dir="ltr">zeros, are larger. We study this timing puzzle in a model where firms invest,</p><p dir="ltr">learn, and expand under uncertainty about collective success. Because later</p><p dir="ltr">support rewards the firm's final position, it also raises the return to</p><p dir="ltr">establishing an installed base today. A planner maximizing transition</p><p dir="ltr">capacity therefore funds both stages but allocates a larger share to later</p><p dir="ltr">support. When costs and aggregate influence differ across firms, these</p><p dir="ltr">characteristics shape total allocations but leave optimal timing shares</p><p dir="ltr">unchanged. Credible future support can thus mobilize investment today.</p> 2026-09-25T18:57:19Z Dataset Dataset 10.6084/m9.figshare.34001031.v1 https://figshare.com/articles/dataset/The_Maturity_Structure_of_Green_Subsidies_/34001031 CC BY 4.0