{"id":"https://openalex.org/W4409152560","doi":"https://doi.org/10.1080/00207543.2025.2486492","title":"Financial constraints under carbon emissions trading: a quasi-natural experiment approach","display_name":"Financial constraints under carbon emissions trading: a quasi-natural experiment approach","publication_year":2025,"publication_date":"2025-04-03","ids":{"openalex":"https://openalex.org/W4409152560","doi":"https://doi.org/10.1080/00207543.2025.2486492"},"language":"en","primary_location":{"id":"doi:10.1080/00207543.2025.2486492","is_oa":true,"landing_page_url":"https://doi.org/10.1080/00207543.2025.2486492","pdf_url":"https://www.tandfonline.com/doi/pdf/10.1080/00207543.2025.2486492?needAccess=true","source":{"id":"https://openalex.org/S65690446","display_name":"International Journal of Production Research","issn_l":"0020-7543","issn":["0020-7543","1366-588X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547"],"host_organization_lineage_names":["Taylor & Francis"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Production Research","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://www.tandfonline.com/doi/pdf/10.1080/00207543.2025.2486492?needAccess=true","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5053373306","display_name":"Liukai Wang","orcid":"https://orcid.org/0000-0002-5347-3894"},"institutions":[{"id":"https://openalex.org/I92403157","display_name":"University of Science and Technology Beijing","ror":"https://ror.org/02egmk993","country_code":"CN","type":"education","lineage":["https://openalex.org/I92403157"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Liukai Wang","raw_affiliation_strings":["University of Science and Technology Beijing"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Science and Technology Beijing","institution_ids":["https://openalex.org/I92403157"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5100403084","display_name":"Lin Wang","orcid":"https://orcid.org/0000-0001-5644-8865"},"institutions":[{"id":"https://openalex.org/I92403157","display_name":"University of Science and Technology Beijing","ror":"https://ror.org/02egmk993","country_code":"CN","type":"education","lineage":["https://openalex.org/I92403157"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Lin Wang","raw_affiliation_strings":["University of Science and Technology Beijing"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Science and Technology Beijing","institution_ids":["https://openalex.org/I92403157"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5059892487","display_name":"Yangchun Xiong","orcid":"https://orcid.org/0000-0001-7183-8917"},"institutions":[{"id":"https://openalex.org/I52099693","display_name":"University of York","ror":"https://ror.org/04m01e293","country_code":"GB","type":"education","lineage":["https://openalex.org/I52099693"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Yangchun Xiong","raw_affiliation_strings":["University of York"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of York","institution_ids":["https://openalex.org/I52099693"]}]},{"author_position":"last","author":{"id":null,"display_name":"Shenghao Xie","orcid":null},"institutions":[{"id":"https://openalex.org/I146655781","display_name":"University of Liverpool","ror":"https://ror.org/04xs57h96","country_code":"GB","type":"education","lineage":["https://openalex.org/I146655781"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Shenghao Xie","raw_affiliation_strings":["University of Liverpool"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Liverpool","institution_ids":["https://openalex.org/I146655781"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":4,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I146655781"],"apc_list":null,"apc_paid":null,"fwci":18.781,"has_fulltext":true,"cited_by_count":8,"citation_normalized_percentile":{"value":0.98868999,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":98,"max":99},"biblio":{"volume":"63","issue":"22","first_page":"8414","last_page":"8428"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10471","display_name":"Climate Change Policy and Economics","score":0.9990000128746033,"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"}},"topics":[{"id":"https://openalex.org/T10471","display_name":"Climate Change Policy and Economics","score":0.9990000128746033,"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/T10438","display_name":"Energy, Environment, Economic Growth","score":0.9861000180244446,"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/T10841","display_name":"Economic and Environmental Valuation","score":0.9814000129699707,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/emissions-trading","display_name":"Emissions trading","score":0.6710509061813354},{"id":"https://openalex.org/keywords/greenhouse-gas","display_name":"Greenhouse gas","score":0.5531109571456909},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.5192880034446716},{"id":"https://openalex.org/keywords/natural-experiment","display_name":"Natural experiment","score":0.5003459453582764},{"id":"https://openalex.org/keywords/carbon-finance","display_name":"Carbon finance","score":0.4944119453430176},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.45063796639442444},{"id":"https://openalex.org/keywords/carbon-offset","display_name":"Carbon offset","score":0.41702038049697876},{"id":"https://openalex.org/keywords/environmental-economics","display_name":"Environmental economics","score":0.41207700967788696},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.3440309762954712},{"id":"https://openalex.org/keywords/natural-resource-economics","display_name":"Natural resource economics","score":0.3304264545440674},{"id":"https://openalex.org/keywords/environmental-science","display_name":"Environmental science","score":0.3275974988937378},{"id":"https://openalex.org/keywords/mathematics","display_name":"Mathematics","score":0.12020492553710938}],"concepts":[{"id":"https://openalex.org/C100405246","wikidata":"https://www.wikidata.org/wiki/Q8348417","display_name":"Emissions trading","level":3,"score":0.6710509061813354},{"id":"https://openalex.org/C47737302","wikidata":"https://www.wikidata.org/wiki/Q167336","display_name":"Greenhouse gas","level":2,"score":0.5531109571456909},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5192880034446716},{"id":"https://openalex.org/C49630185","wikidata":"https://www.wikidata.org/wiki/Q6980675","display_name":"Natural experiment","level":2,"score":0.5003459453582764},{"id":"https://openalex.org/C528261146","wikidata":"https://www.wikidata.org/wiki/Q3072490","display_name":"Carbon finance","level":3,"score":0.4944119453430176},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.45063796639442444},{"id":"https://openalex.org/C83227832","wikidata":"https://www.wikidata.org/wiki/Q1488967","display_name":"Carbon offset","level":3,"score":0.41702038049697876},{"id":"https://openalex.org/C134560507","wikidata":"https://www.wikidata.org/wiki/Q753291","display_name":"Environmental economics","level":1,"score":0.41207700967788696},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3440309762954712},{"id":"https://openalex.org/C175605778","wikidata":"https://www.wikidata.org/wiki/Q3299701","display_name":"Natural resource economics","level":1,"score":0.3304264545440674},{"id":"https://openalex.org/C39432304","wikidata":"https://www.wikidata.org/wiki/Q188847","display_name":"Environmental science","level":0,"score":0.3275974988937378},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.12020492553710938},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.0},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1080/00207543.2025.2486492","is_oa":true,"landing_page_url":"https://doi.org/10.1080/00207543.2025.2486492","pdf_url":"https://www.tandfonline.com/doi/pdf/10.1080/00207543.2025.2486492?needAccess=true","source":{"id":"https://openalex.org/S65690446","display_name":"International Journal of Production Research","issn_l":"0020-7543","issn":["0020-7543","1366-588X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547"],"host_organization_lineage_names":["Taylor & Francis"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Production Research","raw_type":"journal-article"},{"id":"pmh:oai:eprints.whiterose.ac.uk:229191","is_oa":false,"landing_page_url":"https://orcid.org/0000-0001-7183-8917>","pdf_url":null,"source":{"id":"https://openalex.org/S4306400854","display_name":"White Rose Research Online (University of Leeds, The University of Sheffield, University of York)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I2800616092","host_organization_name":"White Rose University Consortium","host_organization_lineage":["https://openalex.org/I2800616092"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"PeerReviewed"}],"best_oa_location":{"id":"doi:10.1080/00207543.2025.2486492","is_oa":true,"landing_page_url":"https://doi.org/10.1080/00207543.2025.2486492","pdf_url":"https://www.tandfonline.com/doi/pdf/10.1080/00207543.2025.2486492?needAccess=true","source":{"id":"https://openalex.org/S65690446","display_name":"International Journal of Production Research","issn_l":"0020-7543","issn":["0020-7543","1366-588X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547"],"host_organization_lineage_names":["Taylor & Francis"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Production Research","raw_type":"journal-article"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/13","display_name":"Climate action","score":0.47999998927116394}],"awards":[{"id":"https://openalex.org/G1886897963","display_name":null,"funder_award_id":"FRF-TP-22-060A1","funder_id":"https://openalex.org/F4320335787","funder_display_name":"Fundamental Research Funds for the Central Universities"},{"id":"https://openalex.org/G2821783157","display_name":null,"funder_award_id":"No. FRF-TP-22-060A1, FRF-BR-23-08B","funder_id":"https://openalex.org/F4320335787","funder_display_name":"Fundamental Research Funds for the Central Universities"},{"id":"https://openalex.org/G2899493136","display_name":null,"funder_award_id":"72301025","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"},{"id":"https://openalex.org/G6704789592","display_name":null,"funder_award_id":"23GLB022","funder_id":"https://openalex.org/F4320335787","funder_display_name":"Fundamental Research Funds for the Central Universities"},{"id":"https://openalex.org/G7727129345","display_name":null,"funder_award_id":"23GLB022","funder_id":"https://openalex.org/F4320334112","funder_display_name":"Beijing Municipal Social Science Foundation"},{"id":"https://openalex.org/G8454152656","display_name":null,"funder_award_id":"FRF-BR-23-08B","funder_id":"https://openalex.org/F4320335787","funder_display_name":"Fundamental Research Funds for the Central Universities"}],"funders":[{"id":"https://openalex.org/F4320321001","display_name":"National Natural Science Foundation of China","ror":"https://ror.org/01h0zpd94"},{"id":"https://openalex.org/F4320334112","display_name":"Beijing Municipal Social Science Foundation","ror":null},{"id":"https://openalex.org/F4320335787","display_name":"Fundamental Research Funds for the Central Universities","ror":null}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4409152560.pdf","grobid_xml":"https://content.openalex.org/works/W4409152560.grobid-xml"},"referenced_works_count":61,"referenced_works":["https://openalex.org/W1490977702","https://openalex.org/W1551327679","https://openalex.org/W2021745214","https://openalex.org/W2057891203","https://openalex.org/W2090841340","https://openalex.org/W2405379812","https://openalex.org/W2789971926","https://openalex.org/W2892302508","https://openalex.org/W2909363761","https://openalex.org/W2920604835","https://openalex.org/W2953300462","https://openalex.org/W2980279331","https://openalex.org/W2990394754","https://openalex.org/W2995763835","https://openalex.org/W2997022595","https://openalex.org/W2998183603","https://openalex.org/W3016416992","https://openalex.org/W3021709162","https://openalex.org/W3031713254","https://openalex.org/W3036862204","https://openalex.org/W3088377716","https://openalex.org/W3096198253","https://openalex.org/W3108371930","https://openalex.org/W3111319236","https://openalex.org/W3117444896","https://openalex.org/W3121239293","https://openalex.org/W3122220309","https://openalex.org/W3122861024","https://openalex.org/W3123084423","https://openalex.org/W3182001952","https://openalex.org/W3189373747","https://openalex.org/W3194369168","https://openalex.org/W4200555625","https://openalex.org/W4205993090","https://openalex.org/W4214818320","https://openalex.org/W4221079693","https://openalex.org/W4224269961","https://openalex.org/W4283381464","https://openalex.org/W4306157683","https://openalex.org/W4311423652","https://openalex.org/W4311686813","https://openalex.org/W4312001095","https://openalex.org/W4312052448","https://openalex.org/W4323360468","https://openalex.org/W4367051526","https://openalex.org/W4367396030","https://openalex.org/W4378190604","https://openalex.org/W4379743902","https://openalex.org/W4381513891","https://openalex.org/W4387252444","https://openalex.org/W4389469706","https://openalex.org/W4389512040","https://openalex.org/W4390022349","https://openalex.org/W4391530207","https://openalex.org/W4391706940","https://openalex.org/W4392291968","https://openalex.org/W4396706646","https://openalex.org/W4402134732","https://openalex.org/W4402236326","https://openalex.org/W4402601306","https://openalex.org/W4402989592"],"related_works":["https://openalex.org/W2167769667","https://openalex.org/W2883783023","https://openalex.org/W1998040595","https://openalex.org/W2006927130","https://openalex.org/W2320707436","https://openalex.org/W4381093423","https://openalex.org/W2969250315","https://openalex.org/W2365902993","https://openalex.org/W2160022772","https://openalex.org/W2524411519"],"abstract_inverted_index":{"Diverse":[0],"carbon":[1,10,14,20,33,40,51],"finance":[2,15],"policies":[3,104,123,173],"have":[4],"been":[5],"implemented":[6],"to":[7,26,29,145,154,174],"reduce":[8,106],"enterprise":[9],"emissions":[11,21],"and":[12,60,114,150],"enhance":[13,118],"performance.":[16],"Among":[17],"these":[18,126],"policies,":[19],"trading":[22],"(CET)":[23],"is":[24],"designed":[25],"incentivize":[27],"enterprises":[28,95,143],"raise":[30],"funds":[31],"through":[32],"credits,":[34],"promoting":[35],"the":[36,61,77,119,133,136,169,176],"efficient":[37],"allocation":[38],"of":[39,79,121,132,135,171],"resources.":[41],"While":[42],"existing":[43],"research":[44,71,161],"underscores":[45],"CET\u2019s":[46],"positive":[47],"impact":[48,78],"on":[49,56,81],"corporate":[50,57],"financial":[52,58,83,108],"performance,":[53],"its":[54],"effects":[55],"constraints":[59,84],"underlying":[62],"mechanisms":[63],"remain":[64],"underexplored,":[65],"particularly":[66],"in":[67,96,124],"emerging":[68,166],"markets.":[69],"Our":[70],"addresses":[72],"this":[73,160],"gap":[74],"by":[75],"examining":[76],"CET":[80,103,122,137,157],"firms\u2019":[82,107],"using":[85],"a":[86,179],"quasi-natural":[87],"experiment":[88],"approach,":[89],"analyzing":[90],"23,147":[91],"observations":[92],"from":[93],"listed":[94],"mainland":[97],"China.":[98],"The":[99],"study":[100],"reveals":[101],"that":[102],"significantly":[105],"constraints.":[109,127],"Additionally,":[110],"supply":[111,152],"chain":[112],"diversity":[113],"green":[115,147],"innovation":[116,148],"further":[117],"effectiveness":[120],"mitigating":[125],"These":[128],"findings":[129],"deepen":[130],"understanding":[131],"implementation":[134],"policy,":[138],"providing":[139],"valuable":[140],"insights":[141],"for":[142,165],"seeking":[144],"improve":[146],"capabilities":[149],"diversify":[151],"chains":[153],"comply":[155],"with":[156],"regulations.":[158],"Moreover,":[159],"provides":[162],"managerial":[163],"implications":[164],"markets,":[167],"supporting":[168],"development":[170],"customised":[172],"facilitate":[175],"transition":[177],"toward":[178],"carbon-efficient":[180],"economy.":[181]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2025,"cited_by_count":5}],"updated_date":"2026-06-15T08:34:33.830935","created_date":"2025-10-10T00:00:00"}