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Analysis of the Impact of Carbon Emissions Trading on the Total Factor Froductivity of Enterprises

Dongdan Zhu

Abstract


This paper fi rstly analyzes the impact of carbon emissions trading intensity on the total factor productivity of enterprises,and investigates the impact of government subsidies on both. The results show that: Firstly, there is an inverted U-shaped relationship between the intensity of carbon emissions trading and the total factor productivity of enterprises.Secondly, government subsidies can signifi cantly contribute to the total factor productivity of enterprises. Thirdly, government subsidies have a moderating eff ect on the relationship between the intensity of carbon emissions trading and the total factor productivity of enterprises, and there is a threshold value. When the value of government subsidies is in the range of Sub≤15.19, carbon emissions trading intensity has a signifi cant positive contribution to the total factor productivity of enterprises≥19.844, carbon emissions trading intensity has a signifi cant inhibitory eff ect on the total factor productivity of enterprises.

Keywords


Carbon emissions trading; Government subsidies; Total factor productivity of fi rms; Instrumental variables approach

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References


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DOI: http://dx.doi.org/10.18686/ahe.v6i22.6820

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