环境规制约束视角下企业投资偏好对碳生产率的影响研究  

A Study on the Effect of Enterprise Investment Preference on Carbon Productivity from the Perspective of Environmental Regulation

作　　者：宋丽颖[1] 李亚冬[1] SONG Liying;LI Yadong(School of Economics and Finance,Xi’an Jiaotong University,Xi’an Shaanxi 710061)

机构地区：[1]西安交通大学经济与金融学院,陕西西安710061

出　　处：《国际商务（对外经济贸易大学学报）》2021年第2期111-125,共15页INTERNATIONAL BUSINESS

摘　　要：基于环境规制约束视角,采用非线性面板数据门槛回归模型,研究了产权归属和规模异质性企业投资偏好对碳生产率的影响效应和动态变化轨迹。结果表明:随着环境规制水平的改变,企业投资偏好对碳生产率的影响具有显著的门槛特征和非线性特征;企业规模和产权差异均会通过影响企业的技术投资偏好和类金融投资偏好对碳生产率产生异质性影响。因此,要充分、高效地发挥环境规制对企业绿色技术研发和生产方式绿色改造的"倒逼"作用,就应依据企业产权和规模特征,设定差异化的环境规制水平。From the perspective of environmental regulation constraints,using a non-linear panel data threshold regression model,this paper analyses the impact of the property ownership and the investment preferences of enterprises with heterogeneous scale on carbon productivity and the dynamic change track.The empirical research has shown that as the level of environmental regulation changes,the impact of corporate investment preferences on carbon productivity has a significant threshold feature and non-linear characteristics.The differences of company scale and property rights will have a heterogeneous effect on carbon productivity through the company’s technology investment preference and quasi-financial investment preference.Therefore,in order to fully and efficiently play the"reversed-pushing"role of environmental regulations on the green technology research and development of enterprises and the green transformation of production methods,a differentiated level of environmental regulations should be set based on the property rights and scale characteristics of enterprises.

关 键 词：碳生产率 环境规制 企业投资偏好 

分 类 号：F205[经济管理—国民经济] F272.1