Carbon Emissions Trading and Corporate Green Technology Innovation

Green technology innovation is the cornerstone of achieving green and high-quality development an important guarantee for China to achieve goals "carbon neutrality" emission reduction". As a market-oriented environmental policy, carbon trading policy can affect behavior enterprises, its impact on enterprises deserves in-depth study. Based patent data A-share listed companies from 2008 2021, taking pilot as quasi-natural experiment, this paper establishes multi-point difference-in-differences model explore discusses regulatory role perspective price, market liquidity, size. Finally, we also conduct heterogeneity analysis based differences in micro-characteristics enterprises. The results show that significantly promotes activities enterprises; rights facilitating expand their stronger those with higher well larger scale. mechanism measured by liquidity partially explains promotion innovation. Further shows effect mainly reflected non-high-tech low-carbon high internal control quality. Therefore, should give play incentive price scale, optimize design system, provide targeted support help reduction development.