Impact of Carbon Emission Trading Policy on Green Innovation Behavior of High-energy Consuming Enterprises Based on Difference-in-Difference Model and PSM-DID
DOI:
https://doi.org/10.13052/spee1048-5236.4529Keywords:
Difference-In-Difference, PSM-DID, CET policy, Green innovation, High energy consuming enterprisesAbstract
Affected by global climate change, the carbon emission trading policy, as a vital market-based environmental regulatory tool, plays a crucial role in promoting carbon reduction. To explore the impact of this policy on the green innovation quality of high-energy-consuming enterprises, this study combines the difference-in-difference model with propensity score matching to conduct an empirical analysis. Propensity score matching results show that the covariate balance between the treatment group and control group is significantly improved, verifying the reliability of the sample matching. The core explanatory variable Treat*P has a positive and significant coefficient at the 1% level, indicating that high-energy-consuming enterprises in pilot areas tend to adopt high-value green innovation strategies after implementing the Carbon Emission Trading policy. This study reveals the net effect of the carbon emission trading policy on enterprises’ green innovation behavior, provides a theoretical basis for optimizing the Carbon Emission Trading mechanism, and offers practical references for promoting the green transformation of high-energy-consuming industries.
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