Research on the impact of energy saving policies on subsidy income for regulated food enterprises: based on PSM-DID method

Abstract

Taking the “Energy Saving and Low Carbon Action in Ten-thousand Enterprises” officially implemented in 2012 as the target of the energy saving policy, based on the data of food enterprises which are extracted from China Industry Business Performance Data, and by using the one-by-one propensity score matching method (one-by-one PSM), the balanced panel data of regulated enterprises (totalling 617) and unregulated food enterprises (totalling 617) from 2010 to 2013 are obtained through matching. Later, the difference-in-difference model (DID) with energy saving policy treatment variables is used for estimation to quantitatively evaluate the “net” effect of the energy-saving policy on subsidy income for regulated food enterprises. The results indicate that: The proportion of subsidized enterprises in all regulated food enterprises is higher than that of subsidized enterprises in unregulated food enterprises. Regulated food enterprises can obtain more subsidies than unregulated enterprises, which means, the proportion of subsidies in regulated enterprises is 43.1% higher than that in unregulated enterprises.