Can China’s carbon trading policy improve the profitability of polluting firms: a retest of Porter’s hypothesis

Exploring the Impact of Heterogeneous Environmental Regulations on Green Innovation Efficiency: Evidence from China’s Yangtze River Economic Belt

“…This reflects theories in environmental economics that emphasize the relationship between environmental sustainability and economic growth. When the industrial structure develops in a greener and more sustainable direction, the economy can achieve a better balance between environmental protection and economic growth, creating a virtuous circle [48][49][50]. Therefore, environmental regulations can indirectly affect the development of GIE in many ways, including promoting green technology innovation and guiding the upgrading of industrial structures.…”

“…Control variables. According to Ren et al [49], we introduce the following city-level control variables: economic development level (Pgdp), degree of openness (Fdi), living expenditure (Con), population size (Pop), and human capital level (Edu). A city's level of economic development determines its level of technological innovation.…”

Carbon trading systems and Credit Spreads of Highly Polluting Corporate Bonds: An Empirical Study Based on a Triple Difference Model

“…(Qi and Han 2021; Yu et al 2022) found that the implementation of carbon trading system has a promoting effect on regional green development, especially on the green development e ciency of eastern China, by studying the green development e ciency of cities in east and west China; (Ren et al 2022; Wang et al 2021) found that the implementation of carbon trading system has a promoting effect on regional green development, especially on the green development e ciency of eastern China by examining the effect of carbon trading system on the investment and nancing behavior of enterprises after the implementation of carbon trading system. (Ren et al, 2022;Wang et al, 2021) found that the carbon trading system changed the green technology innovation and nancial assets investment of the pilot enterprises, and there were differences in the response strategies of different enterprises to the carbon trading system, with private enterprises more inclined to carry out green technology innovation and state-owned enterprises more inclined to increase nancial assets investment; (Wang et al, 2023;Yang et al, 2023) found that the carbon trading system changed the green technology innovation and nancial assets investment of the pilot enterprises. 2023) found that the carbon trading system indirectly affects rm performance through the mechanism of rm technological innovation and the mechanism of rm external environment by examining the carbon trading system, and the system has no signi cant effect on the performance of both state-owned enterprises and large enterprises, while there is a signi cant negative effect on the performance of non-state-owned enterprises and small and mediumsized enterprises.…”

“…Current research on carbon trading system mainly focuses on carbon trading system and regional green development, carbon trading system and enterprise investment behavior, carbon trading system and rm performance, and the research methods used are mostly double difference models and triple difference models. (Qi and Han 2021; Yu et al 2022) found that the implementation of carbon trading system has a promoting effect on regional green development, especially on the green development e ciency of eastern China, by studying the green development e ciency of cities in east and west China; (Ren et al 2022; Wang et al 2021) found that the implementation of carbon trading system has a promoting effect on regional green development, especially on the green development e ciency of eastern China by examining the effect of carbon trading system on the investment and nancing behavior of enterprises after the implementation of carbon trading system. (Ren et al, 2022;Wang et al, 2021) found that the carbon trading system changed the green technology innovation and nancial assets investment of the pilot enterprises, and there were differences in the response strategies of different enterprises to the carbon trading system, with private enterprises more inclined to carry out green technology innovation and state-owned enterprises more inclined to increase nancial assets investment; (Wang et al, 2023;Yang et al, 2023) found that the carbon trading system changed the green technology innovation and nancial assets investment of the pilot enterprises.…”