RT Article
T1 Low-carbon city construction and corporate carbon reduction performance: evidence from a quasi-natural experiment in China
JF Journal of business ethics
VO 180
IS 1
SP 125
OP 143
A1 Chen, Shaojian
A1 Mao, Hui
A1 Sun, Junqin
A2 Mao, Hui
A2 Sun, Junqin
LA English
YR 2022
UL https://ixtheo.de/Record/1817388185
AB Enterprises are the market players for carbon reductions and carbon trading, and they are also the significant driving force in a low-carbon economy and society. Using the data of A-share listed companies from 2010 to 2016, this study uses a difference-in-differences (DID) model to examine the effects of the low-carbon city construction on corporate carbon reduction performance. Consistent with our hypotheses, we find that the low-carbon city construction promotes corporate carbon reduction performance. Further analysis indicates that the policy effect is stronger for state-owned enterprises (SOEs) than non-state-owned enterprises (non-SOEs). Moreover, environmental quality can affect the promotion of local government officials, which is more prominent in pilot low-carbon cities, and political promotion incentives significantly improve corporate carbon reduction performance. Furthermore, the highest emission reduction effects come in the fourth year after adopting a carbon reduction policy and are concentrated among the firms in the eastern region. Overall, our findings offer a new point view for a deeper understanding of the improvement of corporate carbon reduction performance, and provide microscopic evidence for the objective evaluation of the environmental effects of China's low-carbon city pilot policies.
K1 Corporate carbon reduction
K1 Difference-in-difference
K1 Low-carbon city
K1 Q53
K1 Q58
K1 R38
K1 Aufsatz in Zeitschrift
DO 10.1007/s10551-021-04886-1