内部碳定价机制是否实现了减排与增收双赢  

Does Internal Carbon Pricing Scheme Achieve a Win-win of Carbon Emission Reduction and Revenue Increase?

作　　者：朱帮助 徐陈欣 王平[2] 赵冲 吴战篪[2] 宋璐阳 Zhu Bangzhu

机构地区：[1]南京信息工程大学商学院,210044 [2]暨南大学管理学院,510632

出　　处：《会计研究》2021年第4期178-192,共15页Accounting Research

基　　金：国家自然科学基金项目(71672077、71771105、71974077、72074120)支持。

摘　　要：本文以2011-2018年Carbon Disclosure Project中500家美国上市企业为样本,应用非平衡面板回归、工具变量法和倾向性得分匹配等模型方法,比较采用与未采用内部碳定价机制的企业碳排放强度和总收入来检验内部碳定价机制能否实现减排和增收双赢。结果表明,内部碳定价机制减少了22.7%的碳排放强度,并增加了8.1%的总收入。中介效应分析结果表明,内部碳定价机制通过增加研发投入,促进技术创新,帮助企业减少碳排放并增加收入,两种中介效应分别占总效应的3.34%和9.72%。本研究为美国企业实施内部碳定价机制减排和增收的有效性提供了微观经验证据。中国企业和政府可从美国企业内部碳定价机制实践中吸取经验,为经济高质量转型发展开辟一条新的途径。Taking the 500 U.S.listed firms reported in the Carbon Disclosure Project from 2011 to 2018 as a sample,we compare the carbon emission intensity and total revenue between firms using and not using internal carbon pricing scheme by combining the unbalanced panel regression with instrumental variable regression and propensity score matching,and explore whether and how internal carbon pricing scheme can achieve a win-win of carbon emission reduction and revenue increase.The results obtained show that internal carbon pricing scheme reduces carbon emission intensity by 22.7%and increases total revenue by 8.1%.Internal carbon pricing scheme helps firms reduce carbon emissions and increase revenue by increasing research and development investments and improving technological innovations.The two mediation effects account for 3.34%and 9.72%of the total effects,respectively.This research provides a micro-empirical evidence for the effectiveness of internal carbon pricing scheme implemented by American firms to reduce emissions and increase revenue,which provides China with valuable implications to open up a new path for forming high-quality development.

关 键 词：内部碳定价 碳排放强度 总收入 研发投入 中介效应分析 

分 类 号：F831.51[经济管理—金融学] X22[环境科学与工程—环境科学]