The Synergistic Effect of Environmental Tax and Green Finance Policy on Corporate Green Technology Innovation: Empirical Evidence from Chinese Listed Firms
環境税とグリーンファイナンス政策の相乗効果が企業のグリーン技術革新に与える影響：中国上場企業の実証分析 (AI 翻訳)
Ruomeng Zhang, Shixian Ling
🤖 gxceed AI 要約
日本語
中国の双炭目標下で、環境保護税とグリーンファイナンス改革試行区の重複展開を自然実験とし、企業のグリーン技術革新への相乗効果を多期間DIDで検証。各政策単独でも効果があり、協調により強化される。資金制約緩和と研究開発投資増加がメカニズムで、資源・ガバナンス・デジタル化の優れた企業で効果大。全要素生産性への改善はなく「弱いポーター効果」を示唆。
English
Using a staggered quasi-natural experiment of China's Green Finance Reform and Environmental Protection Tax, this study finds each policy alone promotes green innovation, and their coordination strengthens the effect via easing financing constraints and boosting R&D. Effects are stronger in firms with better resources, governance, and digitalization, but no significant TFP improvement indicates a 'weak Porter effect.'
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
中国の政策パッケージの実証結果は、日本でもGXリーグや税制等の複数施策の連携を検討する際に参考となる。特に、政策相乗効果の評価手法としてDIDアプローチが有用。
In the global GX context
This paper provides micro-level evidence on how environmental tax and green finance policies complement each other, offering insights for international policy mixes aimed at net-zero transitions, particularly the role of financing constraints and R&D.
👥 読者別の含意
🔬研究者:Researchers can adopt the multi-period DID approach to evaluate synergy effects of overlapping environmental policies.
🏢実務担当者:Corporate sustainability teams can understand how policy mixes affect green innovation through financing and R&D channels.
🏛政策担当者:Policymakers should design synergistic environmental tax and green finance policies to maximize green innovation while monitoring productivity effects.
📄 Abstract（原文）
Under China’s dual-carbon goals, Green Finance Policy (GFP) and the Environmental Protection Tax Policy (ETP) are key tools for firm-level green transformation, yet their joint micro-effects remain underexplored. Using Shanghai and Shenzhen A-share listed firms from 2011–2022, this study treats the overlapping rollout of the Green Finance Reform and Innovation Pilot Zones and the Environmental Protection Tax reform as a staggered quasi-natural experiment and applies a multi-period DID to identify their synergistic effect on Corporate Green Technology Innovation. Results show that each policy alone promotes green innovation and that their coordination further strengthens the effect. The synergy operates mainly by easing financing constraints and increasing R&D investment. The effect is stronger among firms with better resources, governance, and digitalization, and in regions with stronger institutional environments; it is also more evident in non-heavy-polluting and non-manufacturing sectors. While the policy mix raises both innovation quantity and quality, it does not significantly improve total factor productivity, indicating a “weak Porter effect.” These findings provide micro-level evidence on GFP–ETP synergy and inform the refinement of green finance, environmental tax design, and firm-level green transition policies.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.3390/su18094502first seen 2026-05-15 20:52:41
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