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所属单位：国际商学院

发表刊物：Finance Research Letters

项目来源：教育部人文社科研究项目

摘要：This paper studies how carbon emissions right circulation affects corporate green innovation performance. Using the carbon emissions trading policy in China as a quasi-natural experiment, we find that carbon emission right circulation has a significant positive impact on corporate green innovation performance. This finding is robust to various checks, including the parallel trend analysis, placebo test, the instrumental variable approach, and alternative measures of green innovation. Mechanism tests show that the carbon emission right circulation policy promotes corporate green innovation performance by reducing environmental uncertainty, alleviating financing constraints, and improving external monitoring. In addition, cross-sectional analyses reveal that the positive impact of carbon emission right circulation on corporate green innovation is more significant in firms without political connections and lower levels of capacity utilization.

论文类型：期刊论文

卷号：1

字数：10000

ISSN号：1544-6131

是否译文：否

发表时间：2024-09-21

第一作者：文雯

合写作者：Bao Rui,Huang Yuting