Fig 1.
The pilot areas and covered industries.
Fig 1 shows China emission trading scheme (ETS) pilots in 7 provinces and cities with industries covered by each pilot.
Table 1.
Descriptive statistics.
Table 2.
Pilot carbon trading policy and corporate financialization.
Table 3.
Pilot carbon trading policy and corporate financialization: Parallel trend test.
Table 4.
Pilot carbon trading policy and corporate financialization: Placebo test.
Table 5.
Pilot carbon trading policy and corporate financialization: PSM-DID.
Table 6.
Influence channel of pilot carbon trading policy.
Table 7.
Pilot carbon trading policy and corporate financialization: Ownership heterogeneity.
Table 8.
Pilot carbon trading policy and corporate financialization: Regional heterogeneity.
Table 9.
Pilot carbon trading policy and corporate financialization: Industry competition heterogeneity.