Heterogeneity and influence factors of carbon productivity: Evidence from Chinese manufacturing enterprises

Understanding influence factors and heterogeneity of carbon productivity in manufacturing enterprises can provide important guidance for designing carbon reduction policies. In this study, the heterogeneity of carbon productivity of Chinese manufacturing enterprises was measured by employing enterprise-level data from 2001 to 2011. The empirical findings demonstrated that carbon productivity did not show a decreasing trend over time, but the changing pattern varied across industries. Based on a panel regression model, the result also found that both enterprise features and external factors significantly affected carbon productivity. Asset size, enterprise age, management level, export intensity, marketization level and etc. significantly increased carbon productivity, while enterprise financing and government subsidies decreased the productivity. In addition, effects of factors on carbon productivity differed by enterprise types, so governments should formulate differentiated environmental policies for various enterprises.