How External Demand Affects Corporate Environmental Performance in China

Abstract

Abstract: Based on China’s reality, this paper attempts to study the problem of environmental pollution in China from the perspective of external demand. Based on the theoretical framework of multi-product enterprises, this paper constructs a theoretical model that includes external demand and pollution emission intensity to explain the influence mechanism of external demand changes on pollution emission intensity of multi-product export firms. Then it verifies the impact of the external demand on pollution emission intensity based on the China’s micro-enterprise data from 2000 to 2013. The results show that the improvement of external demand is conductive to reducing the pollution emission intensity of the multi-product exporting firms. The improvement of external demand can reduce the pollution emission intensity through the resource allocation optimization and green technology progress. In the case of weak external demand, to transfer export to domestic sales by the firms can also help to reduce the intensity of pollution emissions. These research conclusions provide a new analysis perspective for China to win the battle of pollution prevention and control, and also provide China’s evidences to the developing countries with higher trade dependence.

Key words: external demand, multi-product export firms, pollution emission intensity

CLC Number:

F746.12

WANG Qing-feng, XIE Juan-juan. How External Demand Affects Corporate Environmental Performance in China[J]. Contemporary Finance & Economics, 2022, 0(12): 99-110.

References

[1] Barrows G., Ollivier H.Cleaner Firms or Cleaner Products? How Product Mix Shapes Emission Intensity from Manufacturing[J]. Journal of Environmental Economics and Management, 2018, 88(3): 134-158.
[2] Antweiler W., Copeland B.R., Taylor M. S. Is Free Trade Good for the Environment?[J]. American Economic Review, 2001, 91(4): 877-908.
[3] 陈登科. 贸易壁垒下降与环境污染改善——来自中国企业污染数据的新证据[J]. 经济研究,2020,(12):98-114.
[4] 邵朝对, 苏丹妮, 杨琦. 外资进入对东道国本土企业的环境效应:来自中国的证据[J]. 世界经济, 2021,(3):32-60.
[5] 苏丹妮, 盛斌. 服务业外资开放如何影响企业环境绩效——来自中国的经验[J]. 中国工业经济,2021,(6):61-79.
[6] 唐宜红, 林发勤. 外部需求冲击与中国的出口波动——基于随机动态局部均衡模型的分析[J]. 世界经济研究,2012, (1):39-43+88.
[7] Cui J.B., Lapan H., Moschini G. C. Productivity, Export, and Environmental Performance: Air Pollutants in the United States[J]. American Journal of Agricultural Economics, 2016, 98(2): 447-467.
[8] Forslid R., Okubo T., Ulltveit-Moe K.H. Why Are Firms That Export Cleaner? International Trade, Abatement and Environmental Emissions[J]. Journal of Environmental Economics and Management, 2018, 91(9): 166-183.
[9] Martin L.A. Energy Efficiency Gains from Trade: Greenhouse Gas Emissions and India’s Manufacturing Firms[R]. Department of Agricultural and Resource Economics, University of California Berkley, 2012.
[10] Cai W.G., Li G. P. The Drivers of Eco-innovation and Its Impact on Performance: Evidence from China[J]. Journal of Cleaner Production, 2018, 176(3): 110-118.
[11] Aghion P., Bénabou R., Martin R., Roulet A.Environmental Preferences and Technological Choices: Is Market Competition Clean or Dirty? [R]. NBER Working Paper, No.26921, 2020.
[12] Mayer T., Melitz M.J., Ottaviano G. I. P. Market Size, Competition, and the Product Mix of Exporters[J]. American Economic Review, 2014, 104(2): 495-536.
[13] De Loecker J., Goldberg P.K., Khandelwal A. K., Pavcnik N. Prices, Markups, and Trade Reform[J]. Econometrica, 2016, 84(2): 445-510.
[14] 钱学锋, 王胜, 陈勇兵. 中国的多产品出口企业及其产品范围:事实与解释[J]. 管理世界, 2013,(1):9-27+66.
[15] Aghion P., Bergeaud A., Lequien M., Melitz M.J. The Heterogeneous Impact of Market Size on Innovation: Evidence from French Firm-level Exports[R]. NBER Working Paper, No.24600, 2018.
[16] 易靖韬, 傅佳莎, 蒙双. 多产品出口企业、产品转换与资源配置[J]. 财贸经济, 2017,(10):131-145.
[17] Acemoglu D., Aghion P., Bursztyn L., Hemous D.The Environment and Directed Technical Change[J]. American Economic Review, 2012, 102(1): 131-166.
[18] Brandt L., Van Biesebroeck J., Zhang Y.Creative Accounting or Creative Destruction? Firm-level Productivity Growth in Chinese Manufacturing[J]. Journal of Development Economics, 2012, 97(2): 339-351.
[19] Yu M.J., Tian W. China’s Processing Trade: A Firm-level Analysis[M]// Mckay H., Song L. G. Rebalancing and Sustaining Growth in China,Canberrn: Australian National University E-press, 2012: 111-148.
[20] Mayer T., Melitz M.J., Ottaviano G. I. P. Product Mix and Firm Productivity Responses to Trade Competition[R]. NBER Working Paper, No. 22433, 2016.
[21] 朱小明, 宋华盛. 目的国需求、企业创新能力与出口质量[J]. 世界经济研究,2019,(7):13-28+134.
[22] Ariu A.Crisis-proof Services: Why Trade in Services Did Not Suffer During the 2008—2009 Collapse[J]. Journal of International Economics, 2016, 98: 138-149.
[23] 刘冲, 张辉, 吴群锋. 进口竞争与企业产品专业化——基于中国多产品企业的研究[J]. 国际贸易问题,2020,(3):22-39.
[24] 余淼杰, 王雅琦. 人民币汇率变动与企业出口产品决策[J]. 金融研究, 2015,(4):19-33.
[25] 江艇. 因果推断经验研究中的中介效应与调节效应[J]. 中国工业经济,2022,(5):100-120.
[26] 景维民, 张璐. 环境管制、对外开放与中国工业的绿色技术进步[J]. 经济研究,2014,(9):34-47.
[27] 陈诗一. 能源消耗、二氧化碳排放与中国工业的可持续发展[J]. 经济研究, 2009,(4):41-55.
[28] Decker R.A., D'Erasmo P. N., Moscoso B. H. Market Exposure and Endogenous Firm Volatility over the Business Cycle[J]. American Economic Journal: Macroeconomics, 2016, 8(1): 148-198.
[29] 盛斌, 毛其淋. 贸易自由化、企业成长和规模分布[J]. 世界经济, 2015,(2):3-30.
[30] 毕鹏,李盼盼. 环境规制、政府支持与企业创新产出[J]. 企业经济,2020,(6):70-79.
[31] 温湖炜,钟启明. 环境保护税改革能否撬动企业绿色技术创新——来自中国排污费征收标准变迁的启示[J]. 贵州财经大学学报,2020,(3):91-100.
[32] 刘佳鑫. 科技型企业绿色智力资本对环境绩效的影响——动态能力的调节作用[J]. 企业经济,2021,(6):61-68.