Carbon price and the misallocation of enterprise innovation resources
炭素価格と企業のイノベーション資源の誤配分 (AI 翻訳)
Yu Feng, Yutao Lei, Yue Wang
🤖 gxceed AI 要約
日本語
本論文は、中国の炭素排出権取引制度を対象に、炭素価格が企業の研究開発（R&D）資源配分の誤りに与える影響を分析。炭素価格はR&D資本と労働の誤配分に対して逆U字型の効果を持ち、一定の閾値を超えると誤配分を是正する。この是正によりイノベーションの量と質が向上することを示し、炭素価格政策の設計に示唆を与える。
English
This paper examines the effect of China's carbon emissions trading scheme on misallocation of enterprise R&D resources. It finds an inverted-U relationship between carbon price and misallocation of both R&D capital and labor, with price above a threshold reducing misallocation. Correcting misallocations significantly improves innovation quantity and quality, informing carbon pricing policy design.
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
日本でもカーボンプライシングが議論される中、炭素価格が企業のイノベーション効率に与える非線形効果は、SSBJ対応や投資家向け情報開示において重要。特にR&D投資の質を考慮した政策設計の必要性を示唆する。
In the global GX context
This study provides empirical evidence on how carbon pricing affects innovation resource allocation, relevant to global climate policy discussions under TCFD/ISSB frameworks. It highlights the importance of considering innovation efficiency when designing carbon markets, balancing emission reductions with long-term productivity.
👥 読者別の含意
🔬研究者:Provides empirical evidence on the inverted-U relationship between carbon price and R&D resource misallocation, expanding understanding of carbon pricing's microeconomic effects.
🏢実務担当者:Suggests that firms should monitor carbon price levels when planning R&D investments, as excessively low or high prices may distort resource allocation.
🏛政策担当者:Informs carbon price level design to avoid harming innovation efficiency while achieving emission targets; offers evidence from China's ETS.
📄 Abstract（原文）
The carbon emissions trading mechanism increases production costs for regulated firms, which undoubtedly encourages enterprises to participate in technology research and development (R&D). However, it is unclear whether the carbon price will lead to misallocation of firms’ innovation resources. When R&D labour and capital are misallocated, increased R&D spending does not necessarily translate into innovation gains. Therefore, focusing on China’s carbon emissions trading mechanism, we systematically examine whether the carbon price affects firms’ innovation resource allocation and further evaluate social welfare after correcting for such misallocation. The analysis indicates that the carbon price exerts an inverted U-shaped effect on both R&D capital and labour misallocation; beyond a certain threshold, the carbon price helps reduce R&D resource misallocation. Further analysis indicates that correcting these misallocations significantly enhances both the quantity and quality of innovation output. These findings expand the research on carbon price mechanisms, highlight the importance of innovation resource allocation efficiency in climate governance, and provide evidence for designing carbon price policies that balance emission reduction targets with innovation efficiency.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.1080/00036846.2026.2703828first seen 2026-07-19 05:08:00
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