Research on the relationship between carbon performance and financial performance of electric power enterprises under the background of “dual carbon”

• DOI: 10.3389/fenvs.2024.1362450
• Publication Date: 2024-04-12T04:21:05Z
• Authors: Jiajun He; Zirui Huang; Xin Fan; Hui Zhang; Mingwei Song; Yiming Zhao; Chenzhi Zhang
• Keywords: Endogeneity; Electric Power Industry

Under the background of “dual carbon,” power industry, as a pillar industry national economy, is ushering in changes. Based on data listed companies electric production and supply from 2010 to 2020, this paper takes operating income corresponding each unit carbon emission substitute variable performance (CP). After dimensionality reduction 12 financial indicators through factor analysis, establishes comprehensive indicator (FP), panel explore relationship between CP FP enterprises. To mitigate endogeneity problem, 2SLS regression was performed using instrumental variables. The results show that has positive sustainable impact FP, which indicates enterprises need pay attention long-term management reduction, so improvement can achieve development, line with expectations Porter’s hypothesis stakeholder theory. In addition, firm size plays negative moderating role FP. research provide path basis for encouraging improve help China goal carbon” soon possible.