Industrial Enterprises' Green Transformation Path via Emission Trading: Theoretical Model and Empirical Evidence
排出権取引による産業企業のグリーン変革経路：理論モデルと実証分析 (AI 翻訳)
Zhipeng Han, Liguo Wang
🤖 gxceed AI 要約
日本語
排出権取引制度（ETS）が産業企業のグリーン変革を促進するメカニズムを、部分均衡モデルと実証分析で解明。炭素価格とその変動性がグリーン変革に逆U字型の影響を与え、適度な水準が重要であること、組織のレジリエンスと経営者のグリーン認知が促進効果を増幅することを発見。技術集約型・高スラック・高汚染企業で効果が強い。
English
This study combines partial equilibrium modeling with empirical analysis to show that emissions trading systems (ETS) significantly promote green transformation of industrial enterprises by incentivizing low-carbon innovation and alleviating resource misallocation. It finds an inverted U-shaped impact of carbon pricing and its volatility on green transformation, with moderate levels being pivotal. Organizational resilience and managerial green cognition amplify benefits, especially for technology-intensive, high-slack, and heavy-polluting firms.
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
日本では2023年度からGXリーグによるカーボンプライシング（有償オークション）が始まったが、本論文は排出権取引の設計（価格水準・変動性）が企業変革に与える非線形効果を実証しており、日本のGX-ETS設計や企業支援策に示唆を与える。特に、組織のレジリエンスや経営者の認知が重要である点は、日本企業のガバナンス改革にも通じる。
In the global GX context
This paper provides rigorous empirical evidence on how carbon pricing design (level and volatility) affects corporate green transformation, relevant for global ETS discussions (EU ETS, China ETS, etc.). The inverted U-shaped finding cautions against excessively high or volatile carbon prices, informing policy calibration. The moderating roles of organizational resilience and managerial cognition offer insights for corporate strategy and governance, aligning with TCFD/ISSB's emphasis on governance and strategy.
👥 読者別の含意
🔬研究者:Provides a theoretical model and empirical evidence on the non-linear effects of carbon pricing on firm-level green transformation, with moderating factors.
🏢実務担当者:Highlights the importance of organizational resilience and managerial green cognition in maximizing benefits from emissions trading, useful for corporate strategy.
🏛政策担当者:Offers evidence-based guidance on designing ETS with moderate carbon prices and managing volatility to avoid counterproductive effects on green transformation.
📄 Abstract（原文）
ABSTRACT Unlocking how the emissions trading system (ETS) propels a true green transformation for industrial enterprises and mastering its complex governance require a central research frontier. By integrating partial equilibrium modeling with empirical analysis, this study robustly shows that the ETS significantly promotes the green transformation of industrial enterprises through incentivizes low‐carbon innovation and alleviates resource misallocation. The further findings reveal: carbon pricing and its volatility on the green transformation have an inverted U‐shaped impact; moderate levels are pivotal for success, while extreme levels prove counterproductive; organizational resilience and managerial green cognition are the key positive moderators that amplify the benefits of the ETS; and the impetus is strongest for technology‐intensive, high‐slack, and heavy‐polluting firms. By innovatively exploring these contingent conditions, this study offers vital insights into optimizing ETS designs and stimulating targeted corporate green initiatives.
🔗 Provenance — このレコードを発見したソース
gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。