The Impact of Carbon Trading Policy on the Green Innovation Efficiency of Enterprises: Evidence from China

Shuwen Zhang, Chenhui Ding () and Chao Liu
Additional contact information
Shuwen Zhang: Business School, Hohai University, Nanjing 211100, China
Chenhui Ding: Economics and Management School, Dongguan University of Technology, Dongguan 523000, China
Chao Liu: Jiangsu Province Science and Technology System Reform Think Tank, Nanjing 210000, China

Sustainability, 2024, vol. 16, issue 24, 1-17

Abstract: Improving green innovation efficiency (GIE) is crucial for reducing enterprise carbon emissions and fostering enterprise sustainability. Meanwhile. most of the research has not considered the micro-level influence of carbon trading on GIE. Therefore, the research objective of this paper is to assess the impact of carbon trading policy (CTP) on the GIE of enterprises and its specific mechanism. This paper uses data from China’s listed enterprises from 2010 to 2019 and treats the 2013 CTP in seven regions as a quasi-natural experiment. The Super-SBM model is applied to calculate the GIE. The difference-in-difference-in-differences (DDD) method assesses policy impact by comparing pre- and post-policy efficiencies. The results reveal that CTP improves the GIE of enterprises in high-carbon emission sectors in pilot areas. It primarily boosts GIE by increasing the environmental attention and resource allocation efficiency of enterprises. CTP significantly promotes the GIE of non-state-owned enterprises (non-SOEs), large-scale enterprises, and enterprises in regions with strict environmental regulations. Finally, policy recommendations are made for more environmentally friendly and sustainable enterprise development.

Keywords: carbon trading policy; green innovation efficiency; DDD model; mediating effect; heterogeneity analysis; sustainability (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/16/24/11192/pdf (application/pdf)
https://www.mdpi.com/2071-1050/16/24/11192/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:16:y:2024:i:24:p:11192-:d:1548390

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().