Evaluation of China's carbon emission trading policy from corporate innovation

Finance Research Letters - Tập 39 - Trang 101565 - 2021
Miaochen Lv1, Manying Bai1
1School of Economics and Management, Beihang University, Beijing 100191, China

Tài liệu tham khảo

Balietti, 2016, Trader types and volatility of emission allowance prices. Evidence from EU ETS Phase I, Energy Policy, 98, 607, 10.1016/j.enpol.2016.09.006 Borghesi, 2015, Linking emission trading to environmental innovation: evidence from the Italian manufacturing industry, Res. Policy, 44, 669, 10.1016/j.respol.2014.10.014 Brav, 2018, How does hedge fund activism reshape corporate innovation?, J. Financ. Econ., 130, 237, 10.1016/j.jfineco.2018.06.012 Calel, 2016, Environmental policy and directed technological change: evidence from the European carbon market, Rev. Econ. Stat., 98, 173, 10.1162/REST_a_00470 Coad, 2016, Innovation and firm growth: does firm age play a role?, Res. Policy, 45, 387, 10.1016/j.respol.2015.10.015 Cui, 2018, Carbon pricing induces innovation: evidence from China's regional carbon market pilots, In AEA Paper. Proc., 108, 453, 10.1257/pandp.20181027 Daskalakis, 2013, On the efficiency of the European carbon market: new evidence from Phase II, Energy Policy, 54, 369, 10.1016/j.enpol.2012.11.055 Dong, 2013, Regional carbon emission performance in China according to a stochastic frontier model, Renew. Sustain. Energy Rev., 28, 525, 10.1016/j.rser.2013.08.009 Fan, 2017, Dynamics of China's carbon prices in the pilot trading phase, Appl. energy, 208, 1452, 10.1016/j.apenergy.2017.09.007 Fang, 2017, Intellectual property rights protection, ownership, and innovation: evidence from China, Rev. Financ. Stud., 30, 2446, 10.1093/rfs/hhx023 Fang, 2014, Does stock liquidity enhance or impede firm innovation?, J. Finance, 69, 2085, 10.1111/jofi.12187 He, 2013, The dark side of analyst coverage: the case of innovation, J. Financ. Econ., 109, 856, 10.1016/j.jfineco.2013.04.001 Kieschnick, 2018, Firm age, corporate governance, and capital structure choices, J. Corp. Finance, 48, 597, 10.1016/j.jcorpfin.2017.12.011 Koh, 2015, Missing R&D, J. Account. Econ., 60, 73, 10.1016/j.jacceco.2015.03.004 Lu, 2018, Managerial conservatism, board independence and corporate innovation, J. Corp. Finance, 48, 1, 10.1016/j.jcorpfin.2017.10.016 Martin, 2015, The impact of the European Union Emissions Trading Scheme on regulated firms: what is the evidence after ten years?, Rev. Environ. Econ. Policy, 10, 129, 10.1093/reep/rev016 Munnings, 2016, Assessing the design of three carbon trading pilot programs in China, Energy Policy, 96, 688, 10.1016/j.enpol.2016.06.015 Ramanathan, 2017, Environmental regulations, innovation and firm performance: a revisit of the Porter hypothesis, J. Cleaner Prod., 155, 79, 10.1016/j.jclepro.2016.08.116 Seifert, 2008, Dynamic behavior of CO2 spot prices, J. Environ. Econ. Manag., 56, 180, 10.1016/j.jeem.2008.03.003 Song, 2018, Will China's building sector participate in emission trading system? Insights from modelling an owner's optimal carbon reduction strategies, Energy policy, 118, 232, 10.1016/j.enpol.2018.03.075 Wen, 2018, Carbon emissions abatement: emissions trading vs consumer awareness, Energy Econ., 76, 34, 10.1016/j.eneco.2018.09.019 Yuan, 2018, Managerial foreign experience and corporate innovation, J. Corp. Finance, 48, 752, 10.1016/j.jcorpfin.2017.12.015 Zhang, 2015, Carbon emissions trading in China: the evolution from pilots to a nationwide scheme, Climate Policy, 15, S104, 10.1080/14693062.2015.1096231 Zhao, 2016, How to improve the market efficiency of carbon trading: a perspective of China, Renew. Sustain. Energy Rev., 59, 1229, 10.1016/j.rser.2016.01.052 Zhao, 2017, Research on the efficiency of carbon trading market in China, Renew. Sustain. Energy Rev., 79, 1, 10.1016/j.rser.2017.05.034 Zhao, 2018, Factors influencing companies' willingness to pay for carbon emissions: emission trading schemes in China, Energy Econ., 75, 357, 10.1016/j.eneco.2018.09.001 Zhou, 2019, Carbon finance and carbon market in China: progress and challenges, J. Cleaner Prod.