Evaluation of China's carbon emission trading policy from corporate innovation

被引：109
|
作者：
Lv, Miaochen [1 ]
Bai, Manying [1 ]
机构：
[1] Beihang Univ, Sch Econ & Management, Beijing 100191, Peoples R China
来源：
FINANCE RESEARCH LETTERS | 2021年 / 39卷
基金：
中国国家自然科学基金;
关键词：
Carbon emission trading; Policy evaluation; Corporate innovation; Chinese market; FIRM AGE; MARKET; EFFICIENCY;
D O I：
10.1016/j.frl.2020.101565
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Using trading data of China's seven pilot carbon emission trading markets from 2013 to 2016, we assess the effectiveness of the carbon emission trading policy from the perspective of corporate innovation. Robust results suggest both a high carbon trading price and high price volatility enhance corporate innovation, which confirms the effectiveness of carbon emission trading policy in promoting corporate carbon-reduction innovation. Our research supports the expansion of China's carbon emission trading from regional pilot projects to the national market and guides policymakers to make timely policy adjustments based on the evaluation of carbon emissions trading policy.
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页数：9
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