近日，我院万凯博士以第一作者身份完成的学术论文《Green Structural Monetary Policy and Firms' Asymmetric Carbon Emission Reduction: Evidence from China》在SSCI期刊《Economic Analysis and Policy》在线发表，《Economic Analysis and Policy》2023年影响因子7.9，是JCR Q1区期刊，中国科学院Top期刊。
论文题目
Green Structural Monetary Policy and Firms’ Asymmetric Carbon Emission Reduction: Evidence from China
论文摘要
Using data from Chinese listed companies, this paper examines the impact of green structural monetary policy on corporate carbon emissions and its underlying mechanisms from two perspectives: bank credit reallocation and corporate emission reduction strategies. The study finds that the impact of green structural monetary policy on corporate carbon emissions is asymmetric. While the policy significantly reduces carbon emissions for clean enterprises, its suppressive effect on emissions from heavily polluting enterprises is relatively limited. The mechanism test results indicate that in terms of bank credit decisions, the green structural credit policy restricts the financing scale of heavily polluting enterprises, increases their financing costs, and simultaneously provides credit incentives for clean enterprises. In terms of corporate carbon reduction strategies, the asymmetry of policy effects partly stems from differences in how policies influence corporate strategic behaviors. Heavily polluting firms tend to adopt “low-cost strategies,” characterized by end-of-pipe treatment investments and strategic green innovations. In contrast, clean firms are more inclined to pursue “competitive advantage strategies,” emphasizing proactive investment in prevention and substantive green innovations. Further analysis reveals that the asymmetric emissions-reduction effects of the policy are jointly influenced by external and internal factors.
作者简介
万凯博士，杭州电子科技大学经济学院讲师。主要研究方向为低碳经济和技术创新，在Journal of Environmental Management、Energy Policy、Economic Analysis and Policy、Journal of Cleaner Production、Applied Economics、Journal of Applied Economics、Applied Economics Letters、科学学与科学技术管理、软科学等国内外核心期刊上发表学术论文19篇，主持2项省部级课题，1项省教育厅课题。
