IDEAS home Printed from https://ideas.repec.org/a/pal/palcom/v11y2024i1d10.1057_s41599-023-02558-1.html
   My bibliography  Save this article

Development of carbon finance in China based on the hybrid MCDM method

Author

Listed:
  • Shiyi Wu

    (Tianjin Foreign Studies University)

  • Rui Niu

    (Tianjin Foreign Studies University)

Abstract

As development progresses over time and changes in the environment take place, carbon finance development has become a very interesting research topic for many scholars worldwide. This paper proposes a hybrid MCDM method that combines the distance solutions of the TOPSIS and VIKOR methods. The contribution of this paper combines TOPSIS and VIKOR, incorporating AISM models to obtain the development ranking of Chinese carbon finance pilot cities as related to the Chinese carbon finance development pilot provinces and cities. The conclusion notes that Guangdong and Beijing are the most preferred investment locations for carbon investors. In addition, technological innovation, financial sector development, and an active ETS market can effectively drive the level of local carbon finance. Additionally, the MCDM methodology in this paper provides new ideas in environmental and economic development assessment.

Suggested Citation

  • Shiyi Wu & Rui Niu, 2024. "Development of carbon finance in China based on the hybrid MCDM method," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-11, December.
    • Handle: RePEc:pal:palcom:v:11:y:2024:i:1:d:10.1057_s41599-023-02558-1
    DOI: 10.1057/s41599-023-02558-1
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41599-023-02558-1
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1057/s41599-023-02558-1?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Ritz, Robert A., 2022. "Global carbon price asymmetry," Journal of Environmental Economics and Management, Elsevier, vol. 114(C).
    2. Hanna-Mari Ahonen & Juliana Kessler & Axel Michaelowa & Aglaja Espelage & Stephan Hoch, 2022. "Governance of Fragmented Compliance and Voluntary Carbon Markets Under the Paris Agreement," Politics and Governance, Cogitatio Press, vol. 10(1), pages 235-245.
    3. Jin, Yana & Liu, Xiaorui & Chen, Xiang & Dai, Hancheng, 2020. "Allowance allocation matters in China's carbon emissions trading system," Energy Economics, Elsevier, vol. 92(C).
    4. Richard H. Thaler, 2008. "Mental Accounting and Consumer Choice," Marketing Science, INFORMS, vol. 27(1), pages 15-25, 01-02.
    5. Richard H. Thaler, 2008. "Commentary—Mental Accounting and Consumer Choice: Anatomy of a Failure," Marketing Science, INFORMS, vol. 27(1), pages 12-14, 01-02.
    6. Sérgio J Teixeira & João J Ferreira & Peter Wanke & Jorge Junio Moreira Antunes, 2021. "Evaluation model of competitive and innovative tourism practices based on information entropy and alternative criteria weight," Tourism Economics, , vol. 27(1), pages 23-44, February.
    7. Donglin Ren & Liang Liu & Xiujuan Gong & Pan Jiang & Shu Liu & Yirui Yang & Ruifeng Jin, 2022. "Effect Evaluation of Ecological Compensation for Strategic Mineral Resources Exploitation Based on VIKOR-AISM Model," Sustainability, MDPI, vol. 14(23), pages 1-18, November.
    8. Yi Qin & Jiawen He & Miao Wei & Xixi Du, 2022. "Challenges Threatening Agricultural Sustainability in Central Asia: Status and Prospect," IJERPH, MDPI, vol. 19(10), pages 1-17, May.
    9. Yakup Çelikbilek & Fatih Tüysüz, 2020. "An in-depth review of theory of the TOPSIS method: An experimental analysis," Journal of Management Analytics, Taylor & Francis Journals, vol. 7(2), pages 281-300, April.
    10. Sharma, Gagan Deep & Shahbaz, Muhammad & Singh, Sanjeet & Chopra, Ritika & Cifuentes-Faura, Javier, 2023. "Investigating the nexus between green economy, sustainability, bitcoin and oil prices: Contextual evidence from the United States," Resources Policy, Elsevier, vol. 80(C).
    11. Yaghoub Abdi & Xiaoni Li & Xavier Càmara-Turull, 2022. "Exploring the impact of sustainability (ESG) disclosure on firm value and financial performance (FP) in airline industry: the moderating role of size and age," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(4), pages 5052-5079, April.
    12. Aleksandra Łuczak & Małgorzata Just, 2020. "A Complex MCDM Procedure for the Assessment of Economic Development of Units at Different Government Levels," Mathematics, MDPI, vol. 8(7), pages 1-17, July.
    13. Yang, Lu & Hamori, Shigeyuki, 2021. "The role of the carbon market in relation to the cryptocurrency market: Only diversification or more?," International Review of Financial Analysis, Elsevier, vol. 77(C).
    14. Opricovic, Serafim & Tzeng, Gwo-Hshiung, 2004. "Compromise solution by MCDM methods: A comparative analysis of VIKOR and TOPSIS," European Journal of Operational Research, Elsevier, vol. 156(2), pages 445-455, July.
    15. Jiang, Yihuo & Ni, Hongliang & Ni, Yihan & Guo, Xiaomei, 2023. "Assessing environmental, social, and governance performance and natural resource management policies in China's dual carbon era for a green economy," Resources Policy, Elsevier, vol. 85(PB).
    16. Dinda, Soumyananda, 2004. "Environmental Kuznets Curve Hypothesis: A Survey," Ecological Economics, Elsevier, vol. 49(4), pages 431-455, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Huang, Jiaqi & Antonides, Gerrit & Nie, Fengying, 2020. "Is mental accounting of farm produce associated with more consumption of own-produced food?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 88(C).
    2. John Cawley & Alex Susskind & Barton Willage, 2020. "The Impact of Information Disclosure on Consumer Behavior: Evidence from a Randomized Field Experiment of Calorie Labels on Restaurant Menus," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 39(4), pages 1020-1042, September.
    3. Pico Bonilla, Claudia Milena & Sandoval Garrido, Luis Eduardo, 2024. "Intertemporal consumption and lifecycle in a pandemic context: an experimental approximation," Revista Tendencias, Universidad de Narino, vol. 25(2), pages 57-85, July.
    4. Francesco Ciardiello & Andrea Genovese, 2023. "A comparison between TOPSIS and SAW methods," Annals of Operations Research, Springer, vol. 325(2), pages 967-994, June.
    5. Tanaka, Takuro & Mizutani, Fumitoshi, 2023. "Determinants of the adoption of energy efficient water heaters in the residential sector: Evidence from a survey in Japan," Energy Policy, Elsevier, vol. 180(C).
    6. Alharthi, Amal & Cortese, Corinne & Moerman, Lee & Tanima, Farzana, 2022. "Surveillance capitalism in the middle east retail sector," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 87(C).
    7. Jake An & Donnel Briley & Shai Danziger & Shai Levi, 2023. "The Impact of Social Investing on Charitable Donations," Management Science, INFORMS, vol. 69(2), pages 1264-1274, February.
    8. Ahrens, Steffen & Pirschel, Inske & Snower, Dennis J., 2017. "A theory of price adjustment under loss aversion," Journal of Economic Behavior & Organization, Elsevier, vol. 134(C), pages 78-95.
    9. Bhanot, Syon P. & Han, Jiyoung & Jang, Chaning, 2018. "Workfare, wellbeing and consumption: Evidence from a field experiment with Kenya’s urban poor," Journal of Economic Behavior & Organization, Elsevier, vol. 149(C), pages 372-388.
    10. Sunardi Sunardi & Theresia Woro Damayanti & Supramono Supramono, 2020. "Men, Money and Household Economy: How Behavioral Approach Explain It," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 23(77), pages 50-63, September.
    11. Yeo, Vincent Cheow Sern & Goh, See-Kwong & Rezaei, Sajad, 2017. "Consumer experiences, attitude and behavioral intention toward online food delivery (OFD) services," Journal of Retailing and Consumer Services, Elsevier, vol. 35(C), pages 150-162.
    12. Anuj Kumar & Amit Mehra & Subodha Kumar, 2019. "Why Do Stores Drive Online Sales? Evidence of Underlying Mechanisms from a Multichannel Retailer," Service Science, INFORMS, vol. 30(1), pages 319-338, March.
    13. Piotr Białowolski, 2019. "Patterns and evolution of consumer debt: evidence from latent transition models," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(1), pages 389-415, January.
    14. Cheng, Qiongwen & Zhao, Xiaoge & Zhong, Shihu & Xing, Yudan, 2024. "Digital financial inclusion, resident consumption, and urban carbon emissions in China: A transaction cost perspective," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 1336-1352.
    15. S. Olofsson & U.-G. Gerdtham & L. Hultkrantz & U. Persson, 2019. "Value of a QALY and VSI estimated with the chained approach," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 20(7), pages 1063-1077, September.
    16. Tahira Iram & Ahmad Raza Bilal & Zeshan Ahmad & Shahid Latif, 2023. "Does Financial Mindfulness Make a Difference? A Nexus of Financial Literacy and Behavioural Biases in Women Entrepreneurs," IIM Kozhikode Society & Management Review, , vol. 12(1), pages 7-21, January.
    17. Bélyácz, Iván & Kovács, Kármen, 2018. "A birtoklási hatás megnyilvánulásának háttere és következményei. A kilátáselmélet alkalmazása fogyasztási döntésekre [Background and consequences of the endowment effect. Applying prospect theory t," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(4), pages 382-401.
    18. Hongjuan Song & Yushi Jiang, 2019. "Dynamic pricing decisions by potential tourists under uncertainty: The effects of tourism advertising," Tourism Economics, , vol. 25(2), pages 213-234, March.
    19. Tarnanidis, Theodore & Owusu-Frimpong, Nana & Nwankwo, Sonny & Omar, Maktoba, 2015. "Why we buy? Modeling consumer selection of referents," Journal of Retailing and Consumer Services, Elsevier, vol. 22(C), pages 24-36.
    20. Mortimer, Gary & Weeks, Clinton S., 2019. "How unit price awareness and usage encourages grocery brand switching and expenditure," Journal of Retailing and Consumer Services, Elsevier, vol. 49(C), pages 346-356.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palcom:v:11:y:2024:i:1:d:10.1057_s41599-023-02558-1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: https://www.nature.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.