Does carbon emission trading policy induce financialization of non-financial firms? Evidence from China

• Published in: Energy economics Vol. 131; p. 107316
• Main Authors: Zhang, Xiaoliang, Zheng, Xiaojia
• Format: Journal Article
• Language: English
• Published: Elsevier B.V 01.03.2024
• Subjects: Carbon emission trading; corporate financialization; environmental regulations; greenhouse gases; greenhouse gases; corporate financialization; Q56; G11; G32; G34; Carbon emission trading; environmental regulations

The carbon emission trading scheme influences firms’ operation costs, which may induce resource diversion to financial investments. By using a sample of Chinese A-share non-financial listed firms that are subject to carbon emission trading pilot programs in China, this paper employs a differences-in...