| Title |
The impact of carbon emission trading on the financing constraints of high-emission enterprises: Evidence from China |
| ID_Doc |
31953 |
| Authors |
He, CH; Zhang, W |
| Title |
The impact of carbon emission trading on the financing constraints of high-emission enterprises: Evidence from China |
| Year |
2024 |
| Published |
|
| DOI |
10.1016/j.frl.2024.105927 |
| Abstract |
Using Difference-in-Differences (DID) and Propensity Score Matching combined with Differencein-Differences-in-Differences (PSM-DDD) methodologies, this paper examines the impact of China's carbon trading pilot policy on enterprise financing. We find that the high-emission enterprises in pilot regions are less financially constrained, especially for state-owned enterprises. The carbon trading policy may motivate high-emission enterprises to reduce carbon emissions through green technology innovation, thereby ameliorating their financing environment. Our findings suggest the economic significance of carbon emission trading in enterprise financing. |
| Author Keywords |
Carbon emission trading; Carbon finance; Financing constraint; Corporate innovation |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Social Science Citation Index (SSCI) |
| EID |
WOS:001291288400001 |
| WoS Category |
Business, Finance |
| Research Area |
Business & Economics |
| PDF |
|