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Cited by 264

The DOI matches its Crossref record; 61 of the 61 references it cites were found in a registry or an index.

China's carbon emissions trading and stock returns

Wen, Fenghua, Wu, Nan, Gong, Xu·2020·Energy Economics
DOI 10.1016/j.eneco.2019.104627
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Abstract

Abstract Taking the Shenzhen pilot as an example, this paper uses a difference-in-differences (DID) method to quantitatively analyze the impact of carbon emissions’ environmental regulation on the stock returns of companies. The results show that establishing China’s carbon emissions trading market has a positive effect on the excess returns of companies participating in carbon emission allowances trading. Besides, the carbon premium in stock returns has increased after Chinas carbon emissions trading market is established. And we also observe that the carbon premium has a steady upward trend after 2014. In addition, our study proves that the coefficient of carbon risk factor is significantly positive, which can be explained by the fact that companies participating in the carbon market have higher carbon exposures.

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Metadata

Authors
Wen, F., Wu, N., & Gong, X.
Venue
Energy Economics
Publisher
Elsevier BV
Published
2020-02
Volume
86
Pages
104627
ISSN
0140-9883 (ISSN-L)
DOI
10.1016/j.eneco.2019.104627
OpenAlex
W2997154586
Cited by
264
References
61
FWCI
33.65
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: China's carbon emissions trading and stock returns. https://app.cochat.ai/papers/10.1016/j.eneco.2019.104627
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Wen, F., Wu, N., & Gong, X. (2020). China's carbon emissions trading and stock returns. Energy Economics. https://doi.org/10.1016/j.eneco.2019.104627

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.