Who invests more in advanced abatement technology? Theory and evidence
研究了异质性企业框架下生产率对减排技术投资的影响，发现高生产率企业在投资与生产率互补时投资更多，且面对更严环境规制时增加投资，而低生产率企业则相反。
Abstract We study firm investment in abatement technology under a heterogeneous‐firm framework. We find that more‐productive firms make more (less) investment in abatement technology if investment and productivity are complements (substitutes). Under linear demand, firms’ abatement investments exhibit an inverted U‐shape with respect to productivity level. This finding is in contrast to results in existing studies. We also find that in response to tightened environmental regulations, more‐productive firms raise their respective investments in abatement technology, whereas less‐productive firms do the opposite. More‐productive firms have lower pollution emission intensity. The key theoretical predictions are confirmed by empirical tests using Chinese data.