Author(s)

Zhang Yingyue

Corresponding Author

Zhang Yingyue

ABSTRACT

As an initiative to promote carbon emission reduction, it is worth studying whether carbon trading can promote the future development of enterprises in the context of the “double carbon” target. The article investigates the impact of carbon trading on the future development of enterprises based on the business data of emission-controlled enterprises from 2002 to 2020 using a double difference model. The results of the empirical study find that carbon trading can promote the future development of enterprises, and this result still holds after robustness testing by various methods; the heterogeneity analysis finds that private, large-scale, and long-lived enterprises are more inclined to diversify. This paper provides some theoretical and empirical evidence to further promote the development of China's carbon market from the perspective of micro enterprises.

KEYWORDS

Carbon trading, Did method, Robustness testing, Corporate future development