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

Miaochen Lv and Manying Bai

Finance Research Letters, 2021, vol. 39, issue C

Abstract: 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.

Keywords: Carbon emission trading; Policy evaluation; Corporate innovation; Chinese market (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:39:y:2021:i:c:s154461231931428x

DOI: 10.1016/j.frl.2020.101565

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