环境补贴能提升企业碳绩效吗--基于A股上市公司实证分析  

Do Environmental Subsidies Improve Corporate Carbon Performance——An Empirical Analysis Based on A-share Listed Companies

作　　者：李祝平[1] 胡燕芳 LI Zhuping;HU Yanfang(School of Economics and Management,Changsha University of Technology,Changsha 410076,China)

机构地区：[1]长沙理工大学经济与管理学院,湖南长沙410076

出　　处：《大连理工大学学报（社会科学版）》2024年第1期33-41,共9页Journal of Dalian University of Technology(Social Sciences)

基　　金：国家社会科学基金项目“‘双碳’目标下城市绿色社区的治理模式与推进机制研究”(22BGL239);湖南省社会科学成果评审委员会重点课题:“湖南省城市生活垃圾分类的治理困境与突破路径研究”(XSP22ZDI012);湖南省教育厅重点项目“强制垃圾分类政策对居民资源回收行为的影响研究”(20A034)。

摘　　要：环境补贴既是国家实现“双碳”目标的宏观调控手段,也是减轻企业环保负担、引导企业节能减排的推动力。选取2014~2019年接受环境补贴的1094家A股上市公司3735个观测值作为研究样本,采用双向固定效应模型,实证探究环境补贴对企业碳绩效的影响。研究表明,环境补贴与企业碳绩效显著正相关且具有滞后性特征,异质性检验发现,成立时间长的企业、国有企业、东部地区与中低污染企业环境补贴作用效果显著;进一步研究发现,环境补贴中的节能减排补贴与企业碳绩效显著正相关,环境治理补贴对企业碳绩效起负向作用。据此,提出环境补贴应以降碳为重点、减污降碳协同增效为目的等建议。Environmental subsidies are not only a macro-control tool to achieve the“double carbon”target,but also a driving force to reduce the environmental burden of enterprises and guide them to save energy and reduce emissions.A sample of 3735 observations of 1094 A-share listed companies receiving environmental subsidies from 2014 to 2019 was selected to empirically investigate the impact of environmental subsidies on corporate carbon performance using a two-way fixed effects model.The study shows that environmental subsidies with a lag of one period or two are significantly and positively related to corporate carbon performance,and the heterogeneous test shovos that the effect of environmental subsidies on state-owned enterprises,eastern regions and medium and low-polluting enterprises is significant.Further study finds that energy-saving and emission reduction subsidies among environmental subsidies are significantly and positively related to corporate carbon performance,while environmental pollution control subsidies have a negative impact on corporate carbon performance.Accordingly,it is proposed that environmental subsidies should focus on carbon reduction and aim to reduce both pollution and carbon.

关 键 词：环境补贴 碳绩效 节能减排补贴 环境治理补贴 滞后性 

分 类 号：F275[经济管理—企业管理] X322[经济管理—国民经济]