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首页> 外文期刊>Environmental Science and Pollution Research >The effects of emission trading system on corporate innovation and productivity-empirical evidence from China's SO_2 emission trading system
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The effects of emission trading system on corporate innovation and productivity-empirical evidence from China's SO_2 emission trading system

机译：排放交易系统对中国SO_2排放交易制度的企业创新与生产力 - 经验证据的影响

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摘要

Emission trading system is a significant market-based environmental regulation tool worldwide. This study fills existing knowledge gap on whether ETSs have “weak” and “strong” version of Porter hypothesis effects in China, by examining the effects of the Chinese SO_2 emission trading on corporate innovation and productivity. Using the micro-data of domestic-listed manufacturing companies from 2004 to 2015, this study regarded China's SO_2 emission trading system as a quasi-natural experiment by applying a difference-in-difference framework to eliminate endogenous problems. It was found that the SO_2 emission trading system significantly promoted corporate innovation but did not have a significant effect on corporate productivity. The cause analysis showed that suboptimal institutional context and lack of corporate dynamic response led to the failure of strong Porter hypothesis effect. In addition, small- and medium-sized enterprises and non-state-owned enterprises gained greater innovation compensation effects of the emission trading system. This research believed that, the design, institutional context, and market incentives of emission trading systems need to be improved from the top down, to achieve the dual goal of environmental sustainability and economic growth.
机译：排放交易系统是全球范围内重要的市场环境监管工具。本研究通过检查中国SO_2排放交易对企业创新和生产力的影响，填补了现有的知识差距和中国陷入困境和“弱”版本的搬运工假想效应。从2004年到2015年，使用国内上市制造公司的微数据，本研究将中国的SO_2排放交易系统视为一种准自然的实验，应用差异差异框架来消除内生问题。有人发现，SO_2排放交易系统显着促进了企业创新，但对企业生产力没有显着影响。原因分析表明，次优制的制度背景和缺乏企业动态响应导致强大的搬运工假设效应失败。此外，中小型企业和非国有企业获得了更大的创新赔偿效果对排放交易系统。本研究认为，排放交易系统的设计，制度背景和市场激励需要从上下改进，实现环境可持续性和经济增长的双重目标。

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