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<p>Carbon emission trading (CET) is a key market-based environmental policy that plays a pivotal role in incentivizing enterprises to reduce carbon emissions and promote green innovation. However, the impact of China’s CET policy, implemented in pilot regions, on “free-riding” behaviour in green technology transfer remains unclear. Based on Porter’s hypothesis, this study investigates whether CET can induce firms’ green technology transfer behaviour. Using the difference-in-differences (DID) method, this study analyses a sample of 690 manufacturing enterprises in China from 2010 to 2022. The results indicate that CET significantly promote green technology transfer in the pilot region, with the green patent transfer count for the treatment group increasing by an average of 33.4% relative to that of the control group. These findings remain robust after undergoing a series of rigorous robustness checks, including parallel trend analysis, propensity score matching, and placebo tests. Mechanism analysis demonstrates that CET promotes firms’ green technology transfer behaviour through environmental costs, which is consistent with the Porter hypothesis. Additionally, the degree of product market competition negatively moderates the impact of CET on firms’ green technology transfer behaviour.</p>

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Do firms “free ride” under the pressure of carbon emissions? Evidence from a quasi-natural experiment in China

  • 期刊论文

  • 发表日期：

    2025年7月8日

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  • Xiang Zhu,
  • Hongtao Chen,
  • Renxiang He

摘要

Carbon emission trading (CET) is a key market-based environmental policy that plays a pivotal role in incentivizing enterprises to reduce carbon emissions and promote green innovation. However, the impact of China’s CET policy, implemented in pilot regions, on “free-riding” behaviour in green technology transfer remains unclear. Based on Porter’s hypothesis, this study investigates whether CET can induce firms’ green technology transfer behaviour. Using the difference-in-differences (DID) method, this study analyses a sample of 690 manufacturing enterprises in China from 2010 to 2022. The results indicate that CET significantly promote green technology transfer in the pilot region, with the green patent transfer count for the treatment group increasing by an average of 33.4% relative to that of the control group. These findings remain robust after undergoing a series of rigorous robustness checks, including parallel trend analysis, propensity score matching, and placebo tests. Mechanism analysis demonstrates that CET promotes firms’ green technology transfer behaviour through environmental costs, which is consistent with the Porter hypothesis. Additionally, the degree of product market competition negatively moderates the impact of CET on firms’ green technology transfer behaviour.