Abstract
The research investigates how the resumption of the China certified emission reduction (CCER) market affects Chinese manufacturers' stock market valuations from an operations and supply chain management (OSCM) perspective. The paper draws from a resource-based view to examine the moderating effects of supply chain concentration (SCC), operational slack, and operational efficiency (OE) on the relationship between the CCER market and manufacturers’ stock market valuations. This paper employs the event study method to examine market responses to CCER. The results reveal that the resumption of the CCER market significantly enhances the market valuations of high-pollution manufacturers to a greater extent than those of manufacturers with lower pollution levels. Additionally, the research findings indicate that SCC and operational slack attenuate the positive effect of CCER market resumption while OE amplifies it. This paper contributes to the OSCM literature by urging businesses to focus on the roles of SCC, operational slack, and OE in the CCER framework to harness the advantages of the CCER system better.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
