碳价波动因素对企业技术创新影响研究——基于林业上市公司的实证分析

Research on the Influence of Carbon Price Fluctuation Factors on Enterprise Technological Innovation——Empirical Analysis Based on Listed Forestry Companies

随着“双碳”目标的提出,我国生态文明建设进入以降碳为重点战略方向阶段,而企业技术创新对促进我国产业结构的优化和转型尤为重要。碳市场是碳配额和碳汇交易的结合,我国碳市场的建立与发展对企业绿色转型的重要性逐渐显现。文章在波特假说和创新补偿效应理论基础上,对2014-2021年62个林业上市公司的493个样本数据,采用主成分分析法测度林业企业技术创新水平,并通过面板固定效应模型进行回归,在微观层面探讨碳价波动影响因素对林业企业技术创新的影响。研究结果表明:(1)国际碳价和汇率均在1%的显著性水平上显著促进林业企业技术创新,即国际碳价和汇率对林业企业技术创新的影响系数分别为0.01和0.28。(2)煤炭和国内经济发展水平对林业企业技术创新影响并不显著。(3)由于区域发展差异,汇率对深圳市影响程度更高,在1%的显著性水平上显著,对湖北省则在5%的显著性水平上显著,汇率对深圳市企业技术创新水平影响系数比湖北省多0.17;第二产业产值占比对湖北省影响更大,在5%的显著性水平上显著,对深圳市影响不显著。文章提出3点政策启示:(1)完善碳市场机制,减小外部影响;(2)激励企业创新,加快清洁能源开发利用;(3)优化产业结构,实现绿色低碳转型。

With the proposal of carbon peaking and carbon neutrality goal, China’s ecological civilization construction has entered a stage where carbon reduction is the key strategic direction, and enterprise technological innovation is particularly important to promote the optimization and transformation of China’s industrial structure. The carbon market is the combination of carbon quota and carbon sink trading. The establishment and development of China’s carbon market is becoming increasingly important for the green transformation of enterprises. Based on the Porter’s hypothesis and the theory of innovation compensation effect, the principal component analysis method was used to measure the level of technological innovation of forestry enterprises on 493 sample data of 62 forestry listed companies from2014 to 2021, and the impact of carbon price fluctuations on technological innovation of forestry enterprises at the micro level was discussed in detail through the panel fixed effect model. The research results showed that:(1)The international carbon price and exchange rate significantly promoted the technological innovation of forestry enterprises at a significant level of 1%, that is, the influence coefficients of the international carbon price and exchange rate on the technological innovation of forestry enterprises were 0.01 and 0.28, respectively.(2)The impact of coal and domestic economic development level on technological innovation of forestry enterprises was not significant.(3)Due to the regional development differences, the exchange rate had a higher impact on Shenzhen, which was significant at the 1%significance level and at the 5% significance level for Hubei. The impact coefficient of exchange rate on the technological innovation level of Shenzhen enterprises was 0.17 more than that of Hubei. The proportion of the secondary industry output had a greater impact than that of Hubei, which was significant at the level of 5%, and had no significant impact on Shenzhen. In view of this, the paper put forward three policy implications:(1)Improve the carbon market mechanism and reduce external impact.(2)Encourage enterprises to innovate and accelerate the development and utilization of clean energy.(3) Optimize industrial structure and realize green and low-carbon transformation.