Effects Of Emissions Trading Policy On Corporate Environmental Performance

Emissions trading are relying on the market system, regarding the environment as a resource, through reasonable means to configure. Corporate environmental performance is in the production process, through environmental control and environmental protection results achieved. Emissions trading are an environmental regulation, through government policies- the market mechanism- corporate body to conduct, every aspect of the design will affect the environmental behavior of enterprises, thus affecting the environmental performance of enterprises.Zhejiang Province, one of the provinces as the country’s first emissions trading pilot, Xiuzhou District of Jiaxing City in 2002 carry on a pilot emissions trading policy, so far, the results of emissions trading in Zhejiang has been in the leading position. In this paper, field research data based enterprises in Zhejiang Province, Zhejiang Province 332 polluting industries as the research object, using qualitative and quantitative analysis method, while introducing emissions trading policy embodiments, corporate social capital as an adjustment variable, from perspective of the enterprise, to analyze the impact of emissions trading policy on corporate environmental performance.The study found 1、the emissions trading policy has a significant positive impact on the environment investment, it shows that companies on the higher awareness of emissions trading, the investment on environment will be. 2、The emissions trading policy has a significant positive impact on corporate environmental behavior, indicating that the higher the emissions trading business awareness, will promote the environmental behavior of enterprises. 3、Corporate social capital has a negative regulation in the emissions trading policy and corporate environment investment; Corporate social capital has a positive regulation in emissions trading policy and corporate environmental behavior. With the increase of corporate social capital, emissions trading policy of positive impact on the business environment investment weakened. However, with the increase of corporate social capital, emissions trading policy of positive impact on corporate environmental behavior increased. 4、Emission Trading Policy embodiment has a negative regulation in the emissions trading policy and corporate environment investment; Emissions trading policy embodiments have no regulation in emissions trading policy and corporate environmental behavior. With the increase of emissions trading policy embodiment, emissions trading policy of positive impact on the business environment investment weakened. Emissions trading policy of positive impact on corporate environmental behavior is almost unchanged.