JOURNAL ARTICLE

Carbon Pricing and Stock Performance: Evidence from China's Emissions Trading Scheme Pilot Regions.

  • Published In: Review of Pacific Basin Financial Markets & Policies, 2023, v. 26, n. 4. P. 1 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Zhang, Qiongqiong; Zhang, Jianing 3 of 3

Abstract

This paper examines a sample of 167 publicly listed enterprises covered by eight regional pilot emissions trading markets in China from 2013 to 2023. Our empirical findings indicate that the carbon price returns negatively affect the stock returns of enterprises covered by the regional markets, with the Shenzhen and Guangdong regions suffering a more pronounced effect. Furthermore, high-carbon-intensity enterprises are more susceptible to this negative impact than their low-carbon-intensity counterparts. The robustness of the negative relationship is evident even after the national emissions trading market opened on July 16, 2021. This study provides insightful guidance for policymakers to regulate emissions trading markets. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Review of Pacific Basin Financial Markets & Policies. 2023/12, Vol. 26, Issue 4, p1
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2023
  • ISSN:0219-0915
  • DOI:10.1142/S0219091523500248
  • Accession Number:174622346
  • Copyright Statement:Copyright of Review of Pacific Basin Financial Markets & Policies is the property of World Scientific Publishing Company and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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