Carbon trading and enterprise productivity:Evidence from China's petrochemical enterprises
MEI Ying-dan1, DENG Ya-rui1, MA Ting2
1. School of Economics and Management, China University of Petroleum Beijing, Beijing 102249, China; 2. Economic Forecast Department of the State Information Center, Beijing 100045, China
Abstract：The paper uses the Coarsened Exact Matching and Difference-in-Difference methods to examine the effects and mechanisms of China's carbon emission trading on the total factor productivity of petrochemical enterprises, based on the data from China's A-share listed petrochemical enterprises between 2008 to 2020. The estimated results indicate that the carbon emission trading improves the total factor productivity at the announcement stage (2011~2012) while reduces the total factor productivity at trading stage (2013~2020). Secondly, the carbon emission trading increases the financing difficulty for petrochemical enterprises, and fails to stimulate technological innovation, but improves the resource allocation efficiency. Thirdly, the negative impact of the carbon emission trading scheme on the total factor productivity of petrochemical enterprises is short-term, and thus China's carbon market will help to achieve a win-win solution for petrochemical enterprises' economic growth and environmental protection in the long run.
梅应丹, 邓雅芮, 马婷. 碳交易与企业生产力:来自中国石化企业的证据[J]. 中国环境科学, 2023, 43(5): 2583-2589.
MEI Ying-dan, DENG Ya-rui, MA Ting. Carbon trading and enterprise productivity:Evidence from China's petrochemical enterprises. CHINA ENVIRONMENTAL SCIENCECE, 2023, 43(5): 2583-2589.
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