The role of carbon trading policyin corporate carbon performance mechanisms: Evidence from China's eight major polluting industries

First, the CTPhas have a positive impact on CP, which still holds after a series of robustness tests; second, the results of the mechanism test show that the CTPdoes not have a significant impact on the production scale and factor inputs of the enterprise, and the enterprise's inputs of capital and labor are relatively stable in the short term, while the CTPwill benefit CPby promoting the enterprise's green technological innovation and environmental inputs; third, the heterogeneity test shows that the promotion effect of the CTPon CPis more significant in areas with state-owned enterprises, strong environmental regulation and low carbon prices. As the results of the study indicate, from the perspective of enterprises, the government can stimulate their carbon performance through a sound carbon emission right market system while promoting the steady development of enterprises, as to realize China's aspiration of "double carbon".