低碳城市试点政策对火电上市企业绿色全要素生产率的影响及机制分析  

Influence and Mechanism Analysis of Low-carbon City Pilot Policy on Green Total Factor Productivity of Listed Thermal Power Enterprises

作　　者：李晖[1] 尹瑞成 LI Hui;YIN Ruicheng(School of Economics,Qingdao University,Qingdao 266061,Shandong,China)

机构地区：[1]青岛大学经济学院,山东青岛266061

出　　处：《中南林业科技大学学报（社会科学版）》2022年第2期36-46,共11页Journal of Central South University of Forestry & Technology（Social Sciences）

基　　金：青岛市博士后应用研究项目“消费结构转型升级对我国行业收入的影响效应及路径分析”(2016038)。

摘　　要：火力发电占据我国电力生产的主导地位,同时也是污染排放的重要来源。在中国资源环境承载能力日渐减弱和低碳试点城市不断增加的背景下,经济增长方式的转变对火电企业提出了新要求,试点政策对火电企业的影响值得研究。基于2009—2020年沪深A股火电上市企业数据,采用SBM模型非径向非角度ML指数法测算火电上市企业绿色全要素生产率,在此基础上采用双重差分等方法,检验低碳城市试点政策对火电企业绿色全要素生产率的影响及传导机制,并考察低碳城市试点政策对不同规模和不同所有制火电企业绿色全要素生产率的异质效应。研究结果表明,低碳城市试点政策的实施抑制了火电上市企业绿色全要素生产率的提升,该结论在经过一系列稳健性检验之后仍然成立。低碳城市试点政策在短期内并不能通过技术创新来提高火电企业的绿色全要素生产率,反而会通过缩减企业规模、降低人力资本水平以及增大能源消耗等带来负面效应。目前低碳城市试点政策并未显著降低火电上市企业的能源投入与污染排放,是其未能促进火电上市企业绿色发展的重要原因。此外,低碳城市试点政策对不同规模和所有制火电上市企业绿色全要素生产率的影响具有显著差异。因此政府应科学合理地制定火电行业环境规制强度,持续推动火电企业技术创新,尤其是要为中小企业和非国有企业创造良好的营商环境,实现火电企业转型升级和绿色发展。Thermal power generation plays a dominant role in China’s electricity production and is also an important source of pollution emissions.Under the background of weakening resource and environment carrying capacity and increasing low-carbon pilot cities in China,the transformation of economic growth mode makes new requirements for thermal power enterprises,and the influence of pilot policies on thermal power enterprises is worth studying.Based on the data of a-share listed thermal power enterprises in Shanghai and Shenzhen from 2009 to 2020,this paper uses the non-radial and non-angular ML index method of SBM model to measure the green total factor productivity of listed thermal power enterprises.On this basis,the impact of low-carbon city pilot policy on green total factor productivity of thermal power enterprises and its transmission mechanism are tested by using differential method.The heterogeneous effects of low-carbon city pilot policies on green total factor productivity of thermal power enterprises of different sizes and ownership are also investigated.The results show that the implementation of low-carbon city pilot policy inhibits the improvement of green total factor productivity of listed thermal power enterprises,and this conclusion is still valid after a series of robustness tests.In the short term,the low-carbon city pilot policy cannot improve the green total factor productivity of thermal power enterprises through technological innovation,but it will bring more negative effects by reducing enterprise scale and human capital level,and increasing energy consumption.At present,the pilot low-carbon city policy does not significantly reduce the energy input and pollution emission of listed thermal power enterprises,which is an important reason why it fails to promote the green development of listed thermal power enterprises.In addition,the impacts of low-carbon city pilot policies on green total factor productivity of listed thermal power enterprises of different sizes and ownership have significant d

关 键 词：低碳城市试点政策 火电企业 绿色全要素生产率 双重差分 环境规制 

分 类 号：F205[经济管理—国民经济]