This paper provides a computation on both the China＇s aggregate CO2 emission volume and the emission of each sector over the period of 2002-2007, based on the input-output analysis. Further analysis is also given on ...This paper provides a computation on both the China＇s aggregate CO2 emission volume and the emission of each sector over the period of 2002-2007, based on the input-output analysis. Further analysis is also given on the various determinants of the change in the emission volume, with the aid of structural decomposition analysis （SDA） based on a residual-free method. Based on the input-output table of China in 2002 and 2007, the merge of sectors and the adjustment of price change have been made during the study. The emissions of carbon dioxide in China increased from 2,887.3 million ton to 5,664.6 million ton during 2002-2007. The average rate of increase is 13.3%, faster than the average rate of gross domestic product （GDP） growth 11.6% slightly. According to the process of SDA, the changes in emission are analyzed in terms of four different factors. Among the four factors studied in the paper, it is found that the change of emission intensity and structure of demand are the main reason of the decrease of emission, while production technology and scale effect increase the emission volume. The paper also finds that although the direct emission intensity decreased during the study period, the total emission intensity increased with the annual rate of 3.8%, which reflects the result of energy policy is not equal in different sectors.展开更多
We show that peer effects influence corporate investment decisions. Using a sample of China's listed firms from 1999 to 2012, we show that a one standard deviation increase in peer firms' investments is associ...We show that peer effects influence corporate investment decisions. Using a sample of China's listed firms from 1999 to 2012, we show that a one standard deviation increase in peer firms' investments is associated with a 4% increase in firm i's investments. We further identify the mechanisms, conditions and economic consequences of peer effects in firms' investment decisions. We find that peer effects are more pronounced when firms have information advantages and the information disclosure quality of peer firms is higher, or if they face more fierce competition. When firms are industry followers, are young or have financial constraints, they are highly sensitive to their peers firms. We also quantify the economic consequences generated by peer effects, which can increase firm performance in future periods.展开更多
文摘This paper provides a computation on both the China＇s aggregate CO2 emission volume and the emission of each sector over the period of 2002-2007, based on the input-output analysis. Further analysis is also given on the various determinants of the change in the emission volume, with the aid of structural decomposition analysis （SDA） based on a residual-free method. Based on the input-output table of China in 2002 and 2007, the merge of sectors and the adjustment of price change have been made during the study. The emissions of carbon dioxide in China increased from 2,887.3 million ton to 5,664.6 million ton during 2002-2007. The average rate of increase is 13.3%, faster than the average rate of gross domestic product （GDP） growth 11.6% slightly. According to the process of SDA, the changes in emission are analyzed in terms of four different factors. Among the four factors studied in the paper, it is found that the change of emission intensity and structure of demand are the main reason of the decrease of emission, while production technology and scale effect increase the emission volume. The paper also finds that although the direct emission intensity decreased during the study period, the total emission intensity increased with the annual rate of 3.8%, which reflects the result of energy policy is not equal in different sectors.
基金supported by the National Natural Science Foundation of China (71263034,71572087)
文摘We show that peer effects influence corporate investment decisions. Using a sample of China's listed firms from 1999 to 2012, we show that a one standard deviation increase in peer firms' investments is associated with a 4% increase in firm i's investments. We further identify the mechanisms, conditions and economic consequences of peer effects in firms' investment decisions. We find that peer effects are more pronounced when firms have information advantages and the information disclosure quality of peer firms is higher, or if they face more fierce competition. When firms are industry followers, are young or have financial constraints, they are highly sensitive to their peers firms. We also quantify the economic consequences generated by peer effects, which can increase firm performance in future periods.
