Browsing by Author "Qi, S"

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Open Access
Do institutional investors facilitate corporate environmental innovation?
(Energy Economics, 2023-01-01) Xu, J; Zeng, S; Qi, S; Cui, J
This paper addresses whether institutional investors drive firms’ innovation direction toward environmentally friendly technologies. The data pertain to comprehensive environmental patents filed by Chinese publicly-listed firms in the manufacturing and public utility sectors during the 2003–2015 period. We find that institutional investors are associated with higher ratios of environmental patents in total patents for firms in the pollution-intensive sectors than those in the non-pollution-intensive sectors. Institutional investors exert the roles of financial support and corporate governance in pursuit of monitoring firms’ long-term sustainable innovation. They further facilitate the information disclosure on corporate social responsibility.
Open Access
Environmental and economic effects of China's carbon market pilots: Empirical evidence based on a DID model
(Journal of Cleaner Production, 2021-01-10) Qi, S; Cheng, S; Cui, J
This paper investigates whether the China ETS policy has achieved carbon emission reduction at the expense of economic development. Moreover, we are interested in unmasking the role of the institutional factors adopted by the ETS pilots in their ETS effects. Using the province-level panel data during the 2008–2016 period. we employ the DID model to compare carbon emissions and economic development between the ETS and non-ETS regions and between the pre- and post-ETS periods. Some novel empirical findings emerge. First, compared with the non-ETS areas, the ETS policy has significantly reduced carbon emission in the ETS areas. This emission reduction has not come at the cost of economic development. Second, the ETS policy leads to a decline in carbon intensity and fossil fuel energy consumption relative to all energy types. Lastly, some heterogeneity across markets arise. The Beijing carbon market performs the best among all pilots in terms of achieving targets of carbon reductions, followed by the Hubei carbon market.
Open Access
The environmental and economic effects of the carbon emissions trading scheme in China: The role of alternative allowance allocation
(Sustainable Production and Consumption, 2021-10-01) Peng, H; Qi, S; Cui, J
This paper examines the impact of China's carbon emission trading scheme (ETS) on carbon emissions reduction and economic performance with a focus on the role of alternative allowance allocation. Using the industry-by-province panel data during the 2008-2016 period, the empirical strategy employs a difference-in-difference-in-difference model. Some novel findings emerge. First, the ETS leads to a reduction in carbon emissions and emission intensity, in particular, for those adopting the benchmarking allowance allocation. Second, the reduction in carbon emissions arises from an increase in energy efficiency. Moreover, the adjustment of energy structure is more favorable to ETS regions adopting the benchmarking allocation rule compared with ETS regions using the grandfathering one. Third, the ETS has muted impacts on employment and returns on assets. A further comparison between the benchmarking and grandfathering rules reveals that the former is associated with a rise in employment, while the latter leads to an increase in returns on assets. In line with the findings, it is recommended that the government should further develop the benchmarking value of the sub-sectors, and gradually transform the allowance allocation methods into the benchmarking-dominated method for China ETS.