School of Business, Central South University, Changsha 410083, China; Institute of Metal Resources Strategy, Central South University, Changsha 410083, China.
Business School, Hunan Agricultural University, Changsha 410128, China.
Sci Total Environ. 2023 Feb 1;858(Pt 1):159871. doi: 10.1016/j.scitotenv.2022.159871. Epub 2022 Oct 30.
Taking advantage of a 2005-2018 sample of 86 Chinese steel enterprises (CSEs) and the difference-in-differences method, this paper utilizes the carbon emissions trading scheme (ETS) - as a quasi-natural experiment to investigate the impact of the carbon ETS on the total factor pollution control efficiency (TFPCE) of CSEs to test the green development effect of the carbon ETS. Then, the green development effect of the carbon ETS is empirically tested by a variety of robustness tests, such as DDD and PSM-DID. The results show that the carbon ETS policy significantly improves the TFPCE of CSEs located in the pilot area, generating the green development effect, and that this the annual effect lags by one year. Additionally, the channel analysis from the perspective of enterprise internal management and the external environment shows that strategic innovation, substantive innovation and institutional quality play a positive role in enhancing pollution control performance respectively. The heterogeneity test shows that the green development effect is better for state-owned CSEs and CSEs located in the eastern and central China. The conclusion has significant implications for green and low-carbon development in heavy pollution industries and has implications for further promoting the implementation of market-oriented environmental regulations.
本文利用 2005-2018 年 86 家中国钢铁企业(CSEs)的样本和双重差分法,利用碳排放交易计划(ETS)——作为一项准自然实验,研究了碳 ETS 对 CSEs 的全要素污染控制效率(TFPCE)的影响,以检验碳 ETS 的绿色发展效应。然后,通过 DDD 和 PSM-DID 等多种稳健性检验,实证检验了碳 ETS 的绿色发展效应。结果表明,碳 ETS 政策显著提高了试点地区 CSEs 的 TFPCE,产生了绿色发展效应,且这种年度效应滞后一年。此外,从企业内部管理和外部环境的角度进行的渠道分析表明,战略创新、实质性创新和制度质量分别对提高污染控制绩效发挥了积极作用。异质性检验表明,国有 CSEs 和位于中国东部和中部的 CSEs 的绿色发展效应更好。该结论对重污染产业的绿色低碳发展具有重要意义,也为进一步推动市场化环境法规的实施提供了启示。