ArticleCarbon balance and management2026
Do carbon policy shocks move stocks? evidence from China's carbon market.
Article in Carbon balance and management, 2026. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 1 paper.
What it found
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The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.
The trial behind it
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Who cites it
1 citing paper in PubMed.
- China's carbon emission trading and income inequality: evidence from factor substitution.Carbon balance and management · 2026Article
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Authors and funding
4 authors.
Funding
Abstract
As carbon policies expand under net zero goals, policy news in carbon markets can send fast signals for equity prices. Using daily data for more than 1,600 listed firms from July 2021 to December 2025, we build carbon policy shocks from carbon price moves on 12 national ETS release days and estimate their link to stock returns. Carbon price changes on release days have a much stronger link to stock returns than changes on other days. Channel tests suggest the response is tied to shifts in short-run risk conditions and changes in trading conditions around release days. The effect is stronger when the carbon market is more mature and more active, and it differs by ETS coverage status, policy type and firm carbon exposure. The findings show how transition risk is priced in China and inform ETS communication and market depth.
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Registered trials
Read under generation 80e0d062 · epoch 390. Bibliography from PubMed, PubMed Central and OpenAlex; grants from NIH RePORTER; trial links from ClinicalTrials.gov; estimates, votes and beliefs from the OpenQuestion graph.