The Impact Of Carbon Emission Trading System On Enterprise Green Technology Innovation

In 2013,carbon emissions trading market was successively established in the seven provinces,which largely aroused mang enterprises' increasingly innovation enthusiasm to upgrade for the modification of the production technology and technological process.Firms in China have also begun to use clean energy in order to reduce energy consumption and pollutant emissions.However,the development process of green technology innovation in China is slow and difficult.There are many obstacles,such as imperfect laws and regulations,lack of financial support and enterprises' insufficient innovation impetus.In view of those,it is necessary to explore the influencing mechanism of carbon emission trading system on enterprises' green technology innovation,so as to better guide enterprises to increase their innovation power and adopt effective technological innovation means and paths,and also provide policy basis for the government to establish a green technology innovation system.The existing researches are more and more using general environmental policy indicators to study the regulation between environmental policy and green technology innovation.Moreover,the research scope focuses on the analysis of macro environment from the perspective of the entire industry or the entire industry.At the same time,the research on the influence logic and mechanism of carbon emission trading on green technology innovation needs to be developed.The difference in productivity of innovation subjects will also affect the driving force of technological innovation.The impact of carbon emission trading system on green technology innovation can be deeply analyzed from these aspects.In the evaluation of policy effect,PSM and DID are used to reduce the endogeneity and subjectivity of policy indicators selection,which is helpful for more accurate identification of results.Based on the resource dependence theory,the externality and the coase theorem and environmental regulation of enterprise green technological innovation theory,the paper adopts the method of PSM-DID model to investigate the carbon emissions trading policy how to effect enterprises' green technological innovation.The research object of this paper is listed companies in 10 cities including Beijing?Shanghai?Guangdong?Shenzhen and so on.The establishment time of the carbon emission trading market is the node of policy impact.and we take enterprises that participate in pilot area of carbon emissions trading system as experimental group,named the control enterprise,that not participate in the pilot area as the control group,named the non-control enterprise.wealso investigate the microscopic dynamic mechanism of enterprise productivity in order to open the national carbon emissions trading market.This paper takes the listed enterprises of the experimental group and the control group as the research object and reaches the following conclusions:(1)the carbon emission permit trading system has a significant positive effect on promoting enterprises to conduct green technology innovation.(2)the regression results of the dummy variables of state-owned enterprises are not significant.That is the trading of state-owned enterprises' carbon emission rights does not necessarily promote their green technology innovation.(3)the regression results of Carbon emissions trading system and enterprise productivity is significantly positive.According to the above research conclusions,this paper proposes management suggestions from the perspective of improving the level of green technology and improving the productivity of enterprises.First,the government should give preferential policies and technical support to promote green technology innovation in enterprises.Enterprises use low-carbon energy-saving technologies and technological innovations in new energy,especially in the production process.Secondly,enterprises should support resource recycling and improve resource utilization efficiency.Under the influence of the carbon emission trading system,enterprises will enhance the level of green technology innovation.