Research on the Pilot Policy of Carbon Emission Trading and the Quality of Enterprise Innovation
Based on the sustainability of innovation and knowledge breadth,this study takes progressive double difference methods and explores the impact of carbon emission trading pilot policy on the quality of enterprise innovation.It is found that the carbon emission trading pilot policy has a significant posi-tive impact on the sustainability of enterprise innovation,while having a negative impact on the knowl-edge breadth of enterprises innovation.Mechanism testing shows that the carbon trading pilot policy af-fects the quality of enterprise innovation through carbon information disclosure and analyst attention.Further research has found that in regions with initial quota payment systems,fiercely competitive product markets,weak pricing capability enterprises,state-owned enterprises,and heavily polluting manufacturing enterprises,carbon trading pilot policies have a more significant promoting effect on the sustainability of enterprise innovation.For regions with initial quota payment systems,fiercely compet-itive product markets,weak pricing capability enterprises and state-owned enterprises,the carbon trading pilot policy has a more significant inhibitory effect on the innovation knowledge breadth of en-terprises.This study also found that the improvement of the sustainability level of enterprise innovation can also promote the increase of enterprise value,while the impact of the knowledge breadth of enter-prise innovation on enterprise value is not significant.
Carbon Emission Trading Pilot PolicyInnovation SustainabilityCarbon Information Dis-closureInnovation Knowledge Breadth
万方数据
维普
