Carbon Transition Risk, Emissions Trading Schemes, and Firm Performance: International Evidence

IF 2.5 3区经济学 Q2 ECONOMICS Managerial and Decision Economics Pub Date : 2024-12-01 DOI:10.1002/mde.4434

Van Thi Thuy Vu, Khanh Hoang, Toan Luu Duc Huynh

引用次数: 0

Abstract

This study investigates the impact of carbon transition risk and emissions trading schemes (ETSs) on the firm performance using a sample of 401,692 firm-quarter observations from 64 countries and territories during the 2010–2019 period. Using the Paris Agreement 2015 as the quasi-natural experiment, our difference-in-differences analysis provides robust evidence of carbon transition risk enhancing heavy polluter firms' performance in countries that implemented ETS, but it is not the case for their counterparts. Our findings suggest the importance of ETS implementation in the sustainable development and demonstrate strong heterogeneity in the impact of carbon transition risk on corporate outcomes.

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来源期刊

Managerial and Decision Economics Multiple-

CiteScore

1.40

自引率

18.20%

发文量

242

期刊介绍： Managerial and Decision Economics will publish articles applying economic reasoning to managerial decision-making and management strategy.Management strategy concerns practical decisions that managers face about how to compete, how to succeed, and how to organize to achieve their goals. Economic thinking and analysis provides a critical foundation for strategic decision-making across a variety of dimensions. For example, economic insights may help in determining which activities to outsource and which to perfom internally. They can help unravel questions regarding what drives performance differences among firms and what allows these differences to persist. They can contribute to an appreciation of how industries, organizations, and capabilities evolve.

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