碳排放权交易对企业碳绩效的影响研究  

Research on the impact of carbon emission rights trading on carbon performance of enterprises

作　　者：王珮[1] 黄珊 王瑶 李文心 Wang Pei;Huang Shan;Wang Yao;Li Wenxin(School of Economics and Management,China University of Petroleum(Beijing),Beijing 102249,China;College of Management and Economics,Tianjin University,Tianjin 300072,China)

机构地区：[1]中国石油大学(北京)经济管理学院,北京102249 [2]天津大学管理与经济学部,天津300072

出　　处：《科研管理》2023年第12期158-169,共12页Science Research Management

摘　　要：碳排放权交易是国家激励企业降碳减排、实现绿色低碳发展的重要环境规制工具。碳绩效反映了经营发展与二氧化碳排放之间的关系,是衡量绿色低碳经济发展的重要指标。本文基于2010—2019年中国上市公司的面板数据,运用非期望产出SE-SBM、多期PSM-DID和中介效应模型等计量方法,实证分析了碳排放权交易对企业碳绩效的影响及作用机制。主要结论有:碳排放权交易显著提高了企业碳绩效;碳排放权交易通过促进企业低碳技术创新正向影响企业碳绩效;碳排放权交易的作用效果存在异质性,对源头管控型低碳技术创新的促进作用更为显著,且长期效果更佳。本研究厘清了碳排放权交易对企业碳绩效的作用机理和影响路径,丰富和拓展了碳排放权交易微观层面的研究视角,为全国碳排放权交易的建设提供经验证据,为企业借助碳排放权交易提升自身碳绩效提供理论依据,为实现“双碳”目标提供有益参考。Carbon emission rights trading is an important environmental regulation tool for the state to encourage enterprises to reduce carbon emission and achieve green and low-carbon development.Carbon performance reflects the relationship between business development and carbon dioxide emissions,and it is an important indicator to measure the development of green and low-carbon economy.Based on the panel data of China′s listed companies from 2010 to 2019,this paper empirically analyzed the impact of carbon emission rights trading on corporate carbon performance and its mechanism by using the measurement methods of SE-SBM,multi-period PSM-DID and mediating effect model.The main conclusions are as follows:carbon emission rights trading significantly improves corporate carbon performance;carbon emission rights trading positively affects corporate carbon performance by promoting corporate low-carbon technology innovation;and there is heterogeneity in the effect of carbon emission rights trading,which has a more significant role in promoting source control-based low-carbon technology innovation and has a better long-term effect.Based on the above conclusions,this paper put forward the following suggestions.First,relevant authority should continue to improve the carbon emission rights trading system and promote enterprises′low-carbon technology innovation,so as to improve their carbon performance.They should further improve the carbon emission rights trading price mechanism and market mechanism,promote enterprises′low-carbon technology innovation through cost constraints and economic incentives,so that the emission reduction effect achieved by innovation can bring tangible environmental and economic benefits to enterprises.The carbon emission rights trading system should comply with other environmental and economic policies to encourage enterprises to carry out low-carbon technology innovation.On the one hand,low carbon technology innovation with source control can help enterprises reduce carbon emissions from the root

关 键 词：碳排放权交易 碳绩效 低碳技术创新 SE-SBM模型 双重差分模型 

分 类 号：F275.1[经济管理—企业管理]