| Climate change is a global problem that attracts the attention of all countries in the world,and it is also the focus of economy and environmental protection.With the increasing of carbon dioxide content in the atmosphere,it is urgent to reduce and control carbon dioxide emissions in the world and to solve the problem of climate change.Among the emission reduction policies in the world,carbon emission trading policy is considered to be one of the most effective policies to reduce greenhouse gas emissions.The earliest carbon emission trading system was established in Europe,and then developed countries such as the United States and Canada have established their own carbon emission trading markets.In 2013,China successively established seven pilot areas for carbon emission trading,and officially launched the national carbon emission trading market in 2017.The carbon trading policy has improved the enthusiasm of Chinese enterprises for the upgrading of production technology to a certain extent.However,there are still some obstacles in the development of enterprise technology innovation in China,such as the lack of innovation motivation,the effect of financial incentive is not obvious,and the relevant system is not perfect.In view of this,it is necessary to explore the impact mechanism of carbon emission trading policy on enterprise innovation from the perspective of enterprises themselves,so as to better guide enterprises to improve innovation power,and provide policy suggestions for the government to build green technology innovation system.At present,the research on environmental policy and technological innovation at home and abroad mostly focuses on macro analysis,and studies the relationship between environmental policy and innovation from the perspective of the whole industry or the whole industry.Few literatures analyze the mechanism of environmental policy on technological innovation from the micro perspective.We can analyze the innovation power of micro innovation subject after joining the carbon emission trading policy.When analyzing the innovation motivation of micro enterprises,game theory is a common method to analyze micro enterprises’decision-making,which helps us to analyze the innovation behavior of enterprises under the carbon emission trading policy.In the empirical test,the double difference method is a common method to test the effect of policies,which can deal with the endogenous problem of policies as explanatory variables,and more accurately evaluate the impact of carbon emission trading policies on enterprise innovation.Firstly,this paper constructs a duopoly game model based on the carbon emission trading market,establishes the innovation game matrix of enterprises,analyzes the innovation motivation of enterprises from the perspective of enterprises’pursuing their own utility maximization,and analyzes the impact of competitors’innovation decisions on enterprise innovation decisions under the environment of carbon emission trading market.After that,this paper selects the implementation time of carbon emission trading policy as the policy impact point,collects the data of Listed Companies in eight major emission industries,such as petrochemical,chemical,building materials,steel and so on,and uses the empirical analysis method of DID.Through the theoretical and empirical analysis,the following conclusions are drawn:first,under the carbon emission trading policy,enterprises will carry out innovative behavior,and the innovation motivation comes from participating in market competition and enterprises’ pursuit of profit maximization.2.Under the carbon emission trading policy,the optimal innovation level of enterprises is positively correlated with carbon price.3.China’s carbon emission trading policy has a significant positive effect on enterprise innovation.4.There is a big gap in carbon price among carbon emission trading markets in China,and the impact of carbon emission trading policies on enterprise innovation is different in different regions.In the pilot areas with high carbon price,the effect of carbon emission trading policy on enterprise innovation is more significant,while the effect of carbon emission trading policy in low carbon price areas is not significant.Combined with the conclusions of this study,this paper puts forward the following policy recommendations:first,continue to promote the establishment of national carbon emission trading market,and give full play to the incentive role of carbon emission trading policy on enterprise innovation.2.In the process of promoting global carbon emission trading,we should pay attention to the specific situation of each pilot area,adjust measures to local conditions,and formulate policies in combination with regional reality.Summarize the experience of carbon trading pilot policy,improve the current system and system,reasonably regulate the range of carbon price,and give full play to the regulatory role of carbon price on enterprise innovation investment.3.In order to encourage enterprises to increase their investment in technological innovation and enhance their technological progress,the government should enhance their support for technological innovation and increase the means of environmental regulation. |
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