Eco‐efficiency: GHG reduction related environmental and economic performance. The case of the companies participating in the EU Emissions Trading Scheme
基于283家欧洲高碳排放企业在2005-2012年参与欧盟排放交易体系的数据，研究发现生态效率在前两个交易期并不普遍，企业减排决策更多受内在价值而非市场机制的经济激励影响。
Abstract Empirical findings on eco‐efficiency are still inconsistent. Using survey data based on a sample of 283 European carbon‐intensive companies participating in the EU ETS between 2005 and 2012, this article investigates the causal relationships between the corporate environmental strategy focus, proactive GHG reductions and related environmental and economic performance, while taking into account an important contingent factor: the initial state of technology. The study's findings show that eco‐efficiency was generally not obvious among the companies during the first two trading periods. It furthermore indicates that GHG emissions were generally not reduced cost‐effectively, as companies' intrinsic values were more likely to have influenced carbon reduction related decisions to a greater degree than the economic incentives resulting from the market mechanisms of the ETS. The results not only shed light on firm behavior with regard to technology management but also provide insights for policy makers into how to stimulate more cost‐effective environmental investments. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment