Research on the relationship between R & D investment,investment efficiency and total factor productivity of coal enterprises
WANG Yuting
FANG Ruirui
LI Lihong
FENG Lianyong
Abstract：Given the dominant position of coal in the energy structure,promoting the high-quality development of the coal industry is crucial to ensuring energy security and promoting transformation.It is of great significance to explore the relationship between R & D investment,investment efficiency,and total factor productivity for clean coal production.Based on the data of Chinese A-share listed companies in the coal mining and washing industry from 2014 to 2023,efficiency data were measured using the BCC model and the DEA-Malmquist index method.The analysis using the two-way fixed effects model revealed that:① R & D investment has a significant promoting effect on the improvement of total factor productivity of China's coal mining and washing enterprises;② Investment efficiency has a significant mediating effect;③ The promoting effect of R & D investment in state-owned enterprises is particularly significant.This provides empirical support for understanding the total factor productivity of China's coal production enterprises.
Keywords：R & D investmentinvestment efficiencytotal factor productivityDEAcoal enterprises
Publication Date：2025-08-28
Online Publishing Date：2025-09-29(First online date of this platform, not the publication date of the document)
Pages：7( 14-20 )