기업의 환경책임과 정부의 환경보조금이 복점산업의 환경 R&D 리스크 선택에 미치는 영향

This study investigates the effects of corporate environmental responsibility (CER) and environmental R&D (ER&D) subsidy on the ER&D risk choices in a duopoly market under quantity competition. Our findings are summarized as follows: First, irrespective of whether ER&D competiton or cooperation, firms increase ER&D risks as the rate of ER&D subsidy increases and the level of CER increases. Second, firms choose higher ER&D risks under ER&D cooperation than under ER&D competition. Finally, market choices on the ER&D risks are higher (lower) than those of second-best when both the rate of ER&D subsidy and the level of CER are low (high). Therefore, when the level of CER is low, the government is required to increase the rate of ER&D subsidy or encourage firms to choose a higher ER&D risk program through ER&D cooperation. However, when the level of CER is high, the government is required to decrease the rate of ER&D subsidy or induce the firms to choose a lower ER&D risk program under ER&D competition.