The impact of the carbon emissions trading scheme on corporate strategic deviance in China

IF 13.3 1区管理学 Q1 BUSINESS Technological Forecasting and Social Change Pub Date : 2025-03-01 Epub Date: 2024-12-19 DOI:10.1016/j.techfore.2024.123952

Caiping Zhang , Falong Liu , Dawei Wu , Deming Tan , Linping Niu

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Abstract

In recent years, much research has been conducted on the carbon emissions trading scheme policy. However, more studies need to focus on the impact of the carbon emissions trading scheme on corporate strategy. In order to address this research gap, drawing on panel data of Chinese A-share listed companies from 2008 to 2020, a quasi-natural experiment was conducted on the impact of the carbon emissions trading scheme on corporate strategic deviance, using a staggered DID model. The results showed that the carbon emissions trading scheme is positively related to corporate strategic deviance, and this relationship has a significant lag. The mechanism analysis demonstrated that the carbon emissions trading scheme can promote innovation quality and environmental performance, thereby indirectly promoting improvement in corporate strategic deviance. The heterogeneity analysis revealed that the carbon emissions trading scheme has a more significant positive relationship with corporate strategic deviance in non-state-owned enterprises, highly polluting industries, and provinces with weak environmental regulation.

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碳排放权交易机制对中国企业战略偏差的影响

近年来，对碳排放权交易机制政策进行了大量的研究。然而，更多的研究需要关注碳排放交易计划对企业战略的影响。为了弥补这一研究空白，本文利用2008 - 2020年中国a股上市公司面板数据，采用交错DID模型对碳排放权交易机制对企业战略偏差的影响进行了准自然实验。结果表明：碳排放权交易机制与企业战略偏差呈正相关，且这种关系存在显著滞后性。机制分析表明，碳排放权交易机制能够提升创新质量和环境绩效，从而间接促进企业战略偏差的改善。异质性分析表明，在非国有企业、高污染行业和环境监管薄弱省份，碳排放权交易机制与企业战略偏差的正相关关系更为显著。

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来源期刊

Technological Forecasting and Social Change Multiple-

CiteScore

21.30

自引率

10.80%

发文量

813

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