Does the energy-consuming right trading system promote green technology innovation of enterprises?
To achieve the high-quality economic development, China implemented the energy-consuming right trading system, aiming to leverage market-oriented environmental regulations to drive enterprises’ green transformation. The purpose of this paper is to figure out whether the energy-consuming right tradin...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2024-02-01
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| Series: | Heliyon |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405844024024897 |
| _version_ | 1827322196565950464 |
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| author | Wei Shao Jiahui Liu |
| author_facet | Wei Shao Jiahui Liu |
| author_sort | Wei Shao |
| collection | DOAJ |
| description | To achieve the high-quality economic development, China implemented the energy-consuming right trading system, aiming to leverage market-oriented environmental regulations to drive enterprises’ green transformation. The purpose of this paper is to figure out whether the energy-consuming right trading system has promoted the green technology innovation of enterprises. Using the empirical analysis method, the paper samples 718 listed industrial enterprises from 2014 to 2019 and constructs a DID model to assess the impact. The results indicate a significant promotion of green technology innovation by the trading system. Non-state-owned and non-high-energy-consuming enterprises exhibit greater sensitivity to the energy-consuming right trading system. Additionally, the institutional environment plays a regulatory role in promoting green innovation of enterprises. Furthermore, it is found that the energy-consuming right trading system influences enterprises by enhancing capital allocation efficiency. The findings are valuable for the government in shaping energy policies and fostering the green transformation of enterprises. |
| first_indexed | 2024-03-07T22:54:40Z |
| format | Article |
| id | doaj.art-cdab175e2f1b406b8330be0e4c8da9fe |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-04-25T01:20:45Z |
| publishDate | 2024-02-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-cdab175e2f1b406b8330be0e4c8da9fe2024-03-09T09:28:20ZengElsevierHeliyon2405-84402024-02-01104e26458Does the energy-consuming right trading system promote green technology innovation of enterprises?Wei Shao0Jiahui Liu1School of Economics, Zhejiang University of Finance & Economics, Hangzhou, 310018, ChinaCorresponding author.; School of Economics, Zhejiang University of Finance & Economics, Hangzhou, 310018, ChinaTo achieve the high-quality economic development, China implemented the energy-consuming right trading system, aiming to leverage market-oriented environmental regulations to drive enterprises’ green transformation. The purpose of this paper is to figure out whether the energy-consuming right trading system has promoted the green technology innovation of enterprises. Using the empirical analysis method, the paper samples 718 listed industrial enterprises from 2014 to 2019 and constructs a DID model to assess the impact. The results indicate a significant promotion of green technology innovation by the trading system. Non-state-owned and non-high-energy-consuming enterprises exhibit greater sensitivity to the energy-consuming right trading system. Additionally, the institutional environment plays a regulatory role in promoting green innovation of enterprises. Furthermore, it is found that the energy-consuming right trading system influences enterprises by enhancing capital allocation efficiency. The findings are valuable for the government in shaping energy policies and fostering the green transformation of enterprises.http://www.sciencedirect.com/science/article/pii/S2405844024024897InnovationEnergy-consuming rightCapital allocationTechnology |
| spellingShingle | Wei Shao Jiahui Liu Does the energy-consuming right trading system promote green technology innovation of enterprises? Heliyon Innovation Energy-consuming right Capital allocation Technology |
| title | Does the energy-consuming right trading system promote green technology innovation of enterprises? |
| title_full | Does the energy-consuming right trading system promote green technology innovation of enterprises? |
| title_fullStr | Does the energy-consuming right trading system promote green technology innovation of enterprises? |
| title_full_unstemmed | Does the energy-consuming right trading system promote green technology innovation of enterprises? |
| title_short | Does the energy-consuming right trading system promote green technology innovation of enterprises? |
| title_sort | does the energy consuming right trading system promote green technology innovation of enterprises |
| topic | Innovation Energy-consuming right Capital allocation Technology |
| url | http://www.sciencedirect.com/science/article/pii/S2405844024024897 |
| work_keys_str_mv | AT weishao doestheenergyconsumingrighttradingsystempromotegreentechnologyinnovationofenterprises AT jiahuiliu doestheenergyconsumingrighttradingsystempromotegreentechnologyinnovationofenterprises |