Skip to main content

Advertisement

SpringerLink
Log in

Study on the influence of carbon emission constraints on the performance of thermal power enterprises

  • Short Research and Discussion Article
  • Published:
Environmental Science and Pollution Research Aims and scope Submit manuscript

Abstract

With the increase of carbon dioxide concentration in the atmosphere, the living environment of human beings is seriously affected. As a high carbon emission industry in China, thermal power enterprises are the key areas of carbon emission reduction in China. This paper first uses Super-SBM model to measure the performance of China’s 18 major thermal power enterprises in 2009–2018 from a static point of view. After considering the carbon emission constraints, it analyzes the degree of change in enterprise performance, and finds that the impact of carbon emission constraints on enterprise performance is not absolute. After that, with the help of Malmquist index model, this paper discusses the dynamic changes of thermal power enterprises’ performance under carbon emission constraint in recent 10 yrs. The results show that the overall performance of carbon emission constraint is in a weak regression stage and summarizes the disadvantages of different enterprises. On the basis of the research conclusion, this paper puts forward countermeasures and suggestions to further improve the performance of Chinese thermal power enterprises under the carbon emission constraints in the future, which is conducive to different enterprises to optimize their own disadvantages.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Fig. 1
Fig. 2
Fig. 3

Similar content being viewed by others

References

  • Bi GB, Song W, Zhou P, Liang L (2014) Dose environmental regulation affect energy efficiency in China's thermal power generation? Empirical evidence from a slacks-based DEA model. Energy Policy 66:537–546

    Article  Google Scholar 

  • Busch T, Hoffmann VH (2011) How hot is your bottom line? Linking carbon and financial performance. Bus Soc 50:233–265

    Article  Google Scholar 

  • Chapple L, Clarkson M, Gold DL (2013) The cost of carbon: capital market effects of the proposed emission trading scheme (ETS). J Account Financ Bus Stud 49:1–33

    Google Scholar 

  • Charnes A, Cooper WW, Lewin A, Seiford L (1978) Data envelopment analysis: theory, methodology and applications. Kluwer Academic Publishers, Boston, MA

    Google Scholar 

  • Chatzistamoulou N, Diagourtas G, Kounetas K (2017) Do pollution abatement expenditures lead to higher productivity growth? Evidence from Greek manufacturing industries. Environ Econ Policy Stud 19:15–34

    Article  Google Scholar 

  • Chen L (2016) Local institutions, audit quality, and corporate scandals of US-listed foreign firms. J Bus Ethics 133:351–373

    Article  Google Scholar 

  • Choi Y, Zhang N, Zhou P (2012) Efficiency and abatement costs of energy-related CO2 emissions in China: a slacks-based efficiency measure. Appl Energy 98:198–208

    Article  Google Scholar 

  • Clemens B (2006) Economic incentives and small firms: does it pay to be green? J Bus Res 59:492–500

    Article  Google Scholar 

  • Färe R, Grosskopf S, Norris M (1994) Productivity growth, technical progress, and efficiency change in industrialized countries: reply. Am Econ Rev 84(5):1040–1044

    Google Scholar 

  • Feng K, Divis SJ, Sun L, Li X, Guan D, Liu W, Liu Z, Hubacek K (2013) Outsourcing CO2 within China. PNAS 110:11654–11659

    Article  CAS  Google Scholar 

  • Fisher-Vanden K, Thorburn KS (2011) Voluntary corporate environmental initiatives and shareholder wealth. J Environ Econ Manag 62:430–445

    Article  Google Scholar 

  • Fogler HR, Nutt F (1975) A note on social responsibility and stock valuation. Acad Manag J 18:155–160

    Google Scholar 

  • Gregg JS, Andres RJ, Marland G(2008) China: emissions pattern of the world leader in CO2 emissions from fossil fuel consumption and cement production. Geophys Res Lett 35

  • Hart SL, Ahuja G (1996) Does it pay to be green? An empirical examination of the relationship between emission reduction and firm performance. Bus Strateg Environ 5:30–37

    Article  Google Scholar 

  • Li L, Wang J (2015) The effects of coal switching and improvements in electricity production efficiency and consumption on CO2 mitigation goals in China. Sustainability 7:9540–9559

    Article  CAS  Google Scholar 

  • Liu Z, Davis SJ, Feng K, Hubacek K, Liang S, Anadon LD, Chen B, Liu J, Yan J, Guan D (2015) Targeted opportunities to address the climate–trade dilemma in China. Nat Clim Chang 6:201–206

    Article  Google Scholar 

  • Matsumura EM, Prakash R, Vera-Munoz SC (2014) Firm-value effects of carbon emissions and carbon disclosures. Account Rev 89:695–724

    Article  Google Scholar 

  • O’Neill JW, Hanson B, Mattila AS (2008) The relationship of sales and marketing expenses to hotel performance in the United States. Cornell Hosp Q 49:355–363

    Article  Google Scholar 

  • Palmer K, Oates WE, Portney PR (1995) Tightening environmental standards: the benefit-cost or the no-cost paradigm? J Econ Perspect 9:119–132

    Article  Google Scholar 

  • Porter ME (1991) America’s green strategy. Sci Am 264:193–246

    Article  Google Scholar 

  • Rexhäuser S, Rammer C (2014) Environmental innovations and firm profitability: unmasking the Porter hypothesis. Environ Resour Econ 57:145–167

    Article  Google Scholar 

  • Segura S, Ferruz L, Gargallo P, Salvador M (2014) EU ETS CO2 emissions constraints and business performance: a quantile regression approach. Appl Econ Lett 2:129–134

    Article  Google Scholar 

  • Song W, Bi G, Wu J, Yang F (2017) What are the effects of different tax policies on China's coal-fired power generation industry? An empirical research from a network slacks-based measure perspective. J Clean Prod 142:2816–2827

    Article  Google Scholar 

  • Song XH, Jiang X, Zhang X, Liu J (2018) Analysis, evaluation and optimization strategy of China thermal power enterprises’ business performance considering environmental costs under the background of carbon trading. Sustainability 10. https://doi.org/10.3390/su10062006

  • Spicer BH (1978) Investors‘ corporate social performance and information disclosure: An empirical study. Account Rev 53:94–111

    Google Scholar 

  • Sueyoshi T, Goto M, Ueno T (2010) Performance analysis of US coal-fired power plants by measuring three DEA efficiencies. Energy Policy 38:1675–1688

    Article  Google Scholar 

  • Tone K (2001) A slacks-based measure of efficiency in data envelopment analysis. Eur J Oper Res 130(3):498–509

    Article  Google Scholar 

  • Tseng ML, Ming L, Wu KJ, Zhou L, Bui DTD (2017) A novel approach for enhancing green supply chain management using converged interval-valued triangular fuzzy numbers-grey relation analysis. Resour Conserv Recycl 3450:1–12

    Google Scholar 

  • Walley N, Whitehead B (1994) It's not easy being green. Harv Bus Rev 72:46–52

    Google Scholar 

  • Wang YH, Yao X, Yuan P (2015) Strategic adjustment of China’s power generation capacity structure under the constraint of carbon emission. Comput.Econ. 46:421–435

    Article  Google Scholar 

  • Yang SM, Zhang XT (2017) Study on the U-shaped relationship of carbon constraint on the large thermal power plants’ profitability. Nat Hazards 89:1421–1435

    Article  Google Scholar 

  • Zhai H, Ou Y, Rubin ES (2015) Opportunities for decarbonizing existing U.S. coal-fired power plants via CO2 capture, utilization and storage. Environ Sci Technol 49:7571–7579

    Article  CAS  Google Scholar 

  • Zhang X, Cheng X, Yuan J, Gao X (2011) Total-factor energy efficiency in developing countries. Energy Policy 39:644–650

    Article  Google Scholar 

  • Zhang LL, Long RY, Chen H, Huang XR (2018) Performance changes analysis of industrial enterprises under energy constraints. Resour Conserv Recycl 136:248–256

    Article  Google Scholar 

  • Zhao XL, Cai Q, Ma C, Hud Y, Luo K, Li W (2017) Economic evaluation of environmental externalities in China’s coal-fired power generation. Energy Policy 102:307–317

    Article  CAS  Google Scholar 

Download references

Acknowledgements

This work was supported by the Fundamental Research Funds for the Central Universities and supported by the National Natural Science Foundation of China (NSFC).

Author information

Authors and Affiliations

  1. Department of Economics and Management, North China Electric Power University, No. 689 Huadian Road, Baoding, 071003, China

    Lixin Dai & Mengying Wang

Authors
  1. Lixin Dai
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Mengying Wang
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Mengying Wang.

Additional information

Responsible editor: Philippe Garrigues

Publisher’s note

Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Dai, L., Wang, M. Study on the influence of carbon emission constraints on the performance of thermal power enterprises. Environ Sci Pollut Res 27, 30875–30884 (2020). https://doi.org/10.1007/s11356-020-09604-4

Download citation

  • Received:

  • Accepted:

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s11356-020-09604-4

Keywords

Search

Navigation