{"id":"https://openalex.org/W2793676048","doi":"https://doi.org/10.1016/j.jclepro.2018.02.150","title":"The impacts of liquidity dynamics on emissions allowances price: Different evidence from China's emissions trading pilots","display_name":"The impacts of liquidity dynamics on emissions allowances price: Different evidence from China's emissions trading pilots","publication_year":2018,"publication_date":"2018-02-16","ids":{"openalex":"https://openalex.org/W2793676048","doi":"https://doi.org/10.1016/j.jclepro.2018.02.150","mag":"2793676048"},"language":"en","primary_location":{"id":"doi:10.1016/j.jclepro.2018.02.150","doi":"https://doi.org/10.1016/j.jclepro.2018.02.150","is_oa":false,"landing_page_url":"https://doi.org/10.1016/j.jclepro.2018.02.150","pdf_url":null,"source":{"id":"https://openalex.org/S58516903","display_name":"Journal of Cleaner Production","issn_l":"0959-6526","issn":["0959-6526","1879-1786"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-2","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Cleaner Production","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5024125571","display_name":"Kai Chang","orcid":"https://orcid.org/0000-0002-3462-8061","observed_orcids":["https://orcid.org/0000-0002-3462-8061"]},"institutions":[{"id":"https://openalex.org/I90727586","display_name":"Zhejiang University of Finance and Economics","ror":"https://ror.org/055vj5234","country_code":"CN","type":"education","lineage":["https://openalex.org/I90727586"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Kai Chang","raw_affiliation_strings":["China Academic of Financial Research, Zhejiang University of Finance & Economics, Hangzhou, 310018, China","Government regulation and Public policy center in Zhejiang Province, Hangzhou, 310018, China","The Collaborative Innovation Center of Local Finance, Zhejiang University of Finance & Economics, Hangzhou, 310018, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"China Academic of Financial Research, Zhejiang University of Finance & Economics, Hangzhou, 310018, China","institution_ids":["https://openalex.org/I90727586"]},{"raw_affiliation_string":"Government regulation and Public policy center in Zhejiang Province, Hangzhou, 310018, China","institution_ids":[]},{"raw_affiliation_string":"The Collaborative Innovation Center of Local Finance, Zhejiang University of Finance & Economics, Hangzhou, 310018, China","institution_ids":["https://openalex.org/I90727586"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5072642747","display_name":"Shibao Lu","orcid":"https://orcid.org/0000-0002-8615-2229","observed_orcids":["https://orcid.org/0000-0002-8615-2229"]},"institutions":[{"id":"https://openalex.org/I90727586","display_name":"Zhejiang University of Finance and Economics","ror":"https://ror.org/055vj5234","country_code":"CN","type":"education","lineage":["https://openalex.org/I90727586"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Shibao Lu","raw_affiliation_strings":["School of Public Administration, Zhejiang University of Finance & Economics, Hangzhou, 310038, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Public Administration, Zhejiang University of Finance & Economics, Hangzhou, 310038, China","institution_ids":["https://openalex.org/I90727586"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5074481290","display_name":"Xiayun Song","orcid":"https://orcid.org/0000-0002-2794-2431","observed_orcids":["https://orcid.org/0000-0002-2794-2431"]},"institutions":[{"id":"https://openalex.org/I90727586","display_name":"Zhejiang University of Finance and Economics","ror":"https://ror.org/055vj5234","country_code":"CN","type":"education","lineage":["https://openalex.org/I90727586"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Xiayun Song","raw_affiliation_strings":["School of Accountancy, Zhejiang University of Finance and Economics, Hangzhou, 310038, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Accountancy, Zhejiang University of Finance and Economics, Hangzhou, 310038, China","institution_ids":["https://openalex.org/I90727586"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5072642747"],"corresponding_institution_ids":["https://openalex.org/I90727586"],"apc_list":{"value":4660,"currency":"USD","value_usd":4660},"apc_paid":null,"fwci":4.9535,"has_fulltext":false,"cited_by_count":43,"citation_normalized_percentile":{"value":0.95200952,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":99},"biblio":{"volume":"183","issue":null,"first_page":"786","last_page":"796"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.39430001378059387,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.39430001378059387,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.35910001397132874,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.11079999804496765,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/emission-allowances","display_name":"emission allowances","score":0.6779999732971191},{"id":"https://openalex.org/keywords/carbon-pricing","display_name":"carbon pricing","score":0.6660000085830688},{"id":"https://openalex.org/keywords/emissions-trading","display_name":"emissions trading","score":0.4699999988079071},{"id":"https://openalex.org/keywords/market-liquidity","display_name":"market liquidity","score":0.9490000009536743},{"id":"https://openalex.org/keywords/trading-volume","display_name":"trading volume","score":0.5960000157356262},{"id":"https://openalex.org/keywords/volatility-clustering","display_name":"volatility clustering","score":0.8109999895095825},{"id":"https://openalex.org/keywords/price-returns","display_name":"price returns","score":0.5120000243186951}],"concepts":[{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.7600429654121399},{"id":"https://openalex.org/C2778304055","wikidata":"https://www.wikidata.org/wiki/Q657474","display_name":"Beijing","level":3,"score":0.5989366173744202},{"id":"https://openalex.org/C2776142675","wikidata":"https://www.wikidata.org/wiki/Q7939999","display_name":"Volatility clustering","level":4,"score":0.5903523564338684},{"id":"https://openalex.org/C100405246","wikidata":"https://www.wikidata.org/wiki/Q8348417","display_name":"Emissions trading","level":3,"score":0.5629340410232544},{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.5627951622009277},{"id":"https://openalex.org/C191935318","wikidata":"https://www.wikidata.org/wiki/Q148","display_name":"China","level":2,"score":0.5482237935066223},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.49964380264282227},{"id":"https://openalex.org/C47737302","wikidata":"https://www.wikidata.org/wiki/Q167336","display_name":"Greenhouse gas","level":2,"score":0.41890212893486023},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3579775094985962},{"id":"https://openalex.org/C48824518","wikidata":"https://www.wikidata.org/wiki/Q396340","display_name":"Agricultural economics","level":1,"score":0.3376133143901825},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.32728731632232666},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.20473650097846985},{"id":"https://openalex.org/C23922673","wikidata":"https://www.wikidata.org/wiki/Q180752","display_name":"Autoregressive conditional heteroskedasticity","level":3,"score":0.14566496014595032},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1016/j.jclepro.2018.02.150","doi":"https://doi.org/10.1016/j.jclepro.2018.02.150","is_oa":false,"landing_page_url":"https://doi.org/10.1016/j.jclepro.2018.02.150","pdf_url":null,"source":{"id":"https://openalex.org/S58516903","display_name":"Journal of Cleaner Production","issn_l":"0959-6526","issn":["0959-6526","1879-1786"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-2","norway-2","poland-140","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Cleaner Production","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/13","score":0.5351999998092651,"display_name":"Climate action"}],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[{"id":"https://openalex.org/G7491438288","display_name":"\u78b3\u6392\u653e\u4ea4\u6613\u673a\u5236\u4e0b\u6211\u56fd\u91cd\u6c61\u67d3\u884c\u4e1a\u6548\u7387\u635f\u5931\u7684\u5f71\u54cd\u673a\u7406\u53ca\u9632\u62a4\u7b56\u7565\u7814\u7a76","funder_award_id":"71673236","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"},{"id":"https://openalex.org/G94453567","display_name":null,"funder_award_id":"2016 M590432","funder_id":"https://openalex.org/F4320321543","funder_display_name":"China Postdoctoral Science Foundation"}],"funders":[{"id":"https://openalex.org/F4320321001","display_name":"National Natural Science Foundation of China","ror":"https://ror.org/01h0zpd94"},{"id":"https://openalex.org/F4320321543","display_name":"China Postdoctoral Science Foundation","ror":"https://ror.org/0426zh255"}],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":68,"referenced_works":["https://openalex.org/W344660231","https://openalex.org/W912318740","https://openalex.org/W1173434639","https://openalex.org/W1482789689","https://openalex.org/W1622225972","https://openalex.org/W1940768431","https://openalex.org/W1972993213","https://openalex.org/W1982269994","https://openalex.org/W1990737230","https://openalex.org/W2011115252","https://openalex.org/W2011538431","https://openalex.org/W2012822803","https://openalex.org/W2021638825","https://openalex.org/W2025695381","https://openalex.org/W2027349009","https://openalex.org/W2028649634","https://openalex.org/W2036305998","https://openalex.org/W2049171928","https://openalex.org/W2049430526","https://openalex.org/W2050031929","https://openalex.org/W2055630430","https://openalex.org/W2059737758","https://openalex.org/W2063239801","https://openalex.org/W2068002174","https://openalex.org/W2077646446","https://openalex.org/W2079117566","https://openalex.org/W2082639450","https://openalex.org/W2086279712","https://openalex.org/W2087466532","https://openalex.org/W2088503847","https://openalex.org/W2090043444","https://openalex.org/W2090268625","https://openalex.org/W2093026187","https://openalex.org/W2095044980","https://openalex.org/W2095076095","https://openalex.org/W2101412243","https://openalex.org/W2102168556","https://openalex.org/W2116946245","https://openalex.org/W2148114324","https://openalex.org/W2283513058","https://openalex.org/W2296367729","https://openalex.org/W2403300836","https://openalex.org/W2403808181","https://openalex.org/W2473148369","https://openalex.org/W2511308319","https://openalex.org/W2522664049","https://openalex.org/W2546773663","https://openalex.org/W2554966676","https://openalex.org/W2564966048","https://openalex.org/W2594669515","https://openalex.org/W2598931250","https://openalex.org/W2611413697","https://openalex.org/W2614376327","https://openalex.org/W2620039013","https://openalex.org/W2731791710","https://openalex.org/W2736948845","https://openalex.org/W2995496352","https://openalex.org/W3121401171","https://openalex.org/W3121446522","https://openalex.org/W3121956658","https://openalex.org/W3122209442","https://openalex.org/W3122484479","https://openalex.org/W3123007985","https://openalex.org/W3123241962","https://openalex.org/W3123322176","https://openalex.org/W3124685468","https://openalex.org/W3125130746","https://openalex.org/W6741270057"],"related_works":["https://openalex.org/W2887679135","https://openalex.org/W2894406165","https://openalex.org/W4385743657","https://openalex.org/W2736948845","https://openalex.org/W3124105462","https://openalex.org/W2964012939","https://openalex.org/W2888346861","https://openalex.org/W7095984054","https://openalex.org/W2968130864","https://openalex.org/W1988335898"],"abstract_inverted_index":null,"counts_by_year":[{"year":2026,"cited_by_count":5},{"year":2025,"cited_by_count":5},{"year":2024,"cited_by_count":4},{"year":2023,"cited_by_count":7},{"year":2022,"cited_by_count":7},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":8},{"year":2019,"cited_by_count":5},{"year":2018,"cited_by_count":1}],"updated_date":"2026-10-31T12:09:11.096373","created_date":"2018-03-29T00:00:00"}