How Carbon Emissions Trading Affects Corporate Environmental Performance:Empirical Evidence from Listed Companies in China
Article builds a quasi-natural experiment on carbon emission trading policies in pilot areas.Using Chinese listed company data from 2006 to 2021,it applies the multi-period double difference method to analyze policy impact on corporate environmental per-formance.Results indicate the carbon emission trading policy significantly optimize environ-mental performance,passing robustness tests.Policies encourage target companies to im-prove environmental performance through transformation,green technology,market selec-tion,and preventing poorly performing companies from entering or exiting.Heterogeneity analysis finds the policy's effect is stronger in eastern and western regions,private and for-eign-funded enterprises,non-heavily polluting industries,and labor and capital-intensive industries.Dynamic evolution analysis suggests policies improve resource allocation effi-ciency and market competition,benefiting environmental performance optimization.
万方数据
