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Published in last 1 year |  In last 2 years |  In last 3 years |  All Please wait a minute... For Selected: Download Citations EndNote Ris BibTeX Toggle Thumbnails Select Has Stricter Pollution Discharge Standard Triggered the Porter Effect? Micro-Evidences from Chinese Water Polluting Enterprises GUO Yu-hui, WU Han-ran, ZHANG Zheng Contemporary Finance & Economics    2023, 0 (1): 108-119.   Abstract （69）            Knowledge map    Save The discharge standard of pollutants is the basic tools of environmental regulation, whose dynamic update process of“replacing old with new, replacing loose with strict”is the main driving force for the green transformation of China's manufacturing industry. This paper manually collects the information of 60 industrial water pollutant discharge standards issued in China from 2005 to 2013 and makes use of the micro-data of Chinese water polluting enterprises at the same period to conduct an empirical study on whether stricter standards can promote enterprise green total factor productivity and trigger the Porter effect by employing the multi-phase DID method. The findings show that the green total factor productivity of enterprises increased by an average of 2.28% after the improvement of the standards and that this impact is more significant in the enterprises with high pressure to meet the standards, in the enterprises with strong financing capacity and in the regions with strong law enforcement. The results of the mechanism analysis show that enterprises can achieve green transformation through the materialized technological advances contained in equipment upgrading and rebuilding and the improvement of resources utilization efficiency and management efficiency. Besides, although stricter standards failed to increase the number of green patent applications of enterprises, they significantly improved the patents quality of the enterprises. At the same time, the technological transformation needs of the affected industries would indirectly induce the green patent research and development in the upstream equipment manufacturing industry, which means that the Porter effect overflows into the upstream industries. Reference | Related Articles | Metrics | Comments（0） Select How Does Regional Integration in China Affect Carbon Emission Efficiency? XU Bin, KE Da, LIU Yang-qian-yu Contemporary Finance & Economics    2023, 0 (1): 120-131.   Abstract （53）            Knowledge map    Save Based on the data of 30 provinces in China except Tibet, Taiwan Province, Hong Kong and Macao Special Administrative Regions from 2003 to 2019, this paper uses the Super SBM model with unexpected output to measure the carbon emission efficiency of each province, constructs the comprehensive level indicator of regional integration by making use of the integration level of the commodity markets, the labor markets and the financial markets, and analyzes the impact of regional integration, industrial structure advancement, fiscal expenditure scale and the interaction between regional integration and the latter two on carbon emissions efficiency and its spatial effect. The findings show that regional integration is conducive to improving carbon emission efficiency, and this effect will be positively regulated by the advancement of industrial structure and negatively regulated by the scale of financial expenditure; the advancement of industrial structure is conducive to improving carbon emission efficiency, while the expansion of financial expenditure is not conducive to improving carbon emission efficiency, if the level of industrial structure is too low or the scale of financial expenditure is too large, there is a sub optimal strategy to improve carbon emission efficiency by reducing the level of regional integration; regional integration can promote the carbon emission efficiency of adjacent provinces, but this spillover effect is also subject to the positive regulation of industrial structure advancement and the negative regulation of fiscal expenditure scale. Therefore, we should continue to promote the upgrading of industrial structure to ensure and strengthen the role of regional integration in promoting carbon emission efficiency. While stimulating the vitality of market players, the government should also be proactive and promising, allocate more financial expenditure in environmental protection investment, focus on cultivating local competitive industries, and actively implement the regional integration strategy. And the carbon emission policy must focus on regional coordinated development. Reference | Related Articles | Metrics | Comments（0）