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Institutional Openness and Corporate Carbon Information Disclosure: A Study Based on the Construction of Free Trade Pilot Zones
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Weiqing Chen1, Tianyi Zeng1, Keming Wang2
Journal of Technology Economics | 2026, 45(8) : 30 - 49
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Journal of Technology Economics | 2026, 45(8): 30-49
• Financial and Accounting Issues in the AI Era: Perspectives from History, Institutions and Openness •
Institutional Openness and Corporate Carbon Information Disclosure: A Study Based on the Construction of Free Trade Pilot Zones
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Weiqing Chen1, Tianyi Zeng1, Keming Wang2
Affiliations
  • 1.Accounting College of Xinjiang University of Finance and Economics, Urumqi 830012, China
  • 2.School of Business, Sun Yat-sen University, Guangzhou 510275, China
Published: 2026-08-25 doi: 10.12404/j.issn.1002-980X.J26033021
Outline
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Against the backdrop of rising uncertainties in the international situation and increasingly severe environmental protection pressure, the formation of global green trade barriers is accelerating, and carbon information disclosure is regarded as crucial for enterprises to compete in the international trade market. As an important practical carrier of China's institutional opening-up, the construction of pilot free trade zones is found to profoundly reshape the carbon information disclosure behaviors of enterprises in pilot areas through policy impetus and market pull, and to help Chinese enterprises smoothly integrate into the international market. From the perspective of institutional opening-up, the linkage effect between pilot free trade zone construction and green governance was explored. Taking Shanghai and Shenzhen A-share listed companies from 2010 to 2023 as samples, a difference-in-differences model was constructed to evaluate the impact of pilot free trade zone construction on the quality of corporate carbon information disclosure. The research finds that the establishment of free trade zones significantly improves the carbon information disclosure quality of local enterprises. Mechanism analysis indicates that free trade zone construction drives enterprises to release high-quality carbon information through three paths: expanding export scale, stimulating the growth of green investment and deepening managers' environmental cognition. Heterogeneity analysis shows that the policy effect is particularly prominent in cities with high export dependence, export-oriented industries and enterprises with a large proportion of export trade. Further extended analysis verifies that free trade zone construction achieves an overall improvement in corporate carbon information disclosure quality covering both information content and disclosure detail. Micro-level empirical evidence is provided for understanding the transformation of corporate green governance driven by institutional opening-up, and references are offered for the optimized design of pilot free trade zones.

institutional openness  /  free trade pilot zones  /  quality of carbon information disclosure  /  sustainable development  /  green governance  /  large language model
陈维青, 曾天益, 王克明. 制度型开放与企业碳信息披露——基于自由贸易试验区建设的研究. 技术经济, 2026 , 45 (8) : 30 -49 . DOI: 10.12404/j.issn.1002-980X.J26033021
Weiqing Chen, Tianyi Zeng, Keming Wang. Institutional Openness and Corporate Carbon Information Disclosure: A Study Based on the Construction of Free Trade Pilot Zones[J]. Journal of Technology Economics, 2026 , 45 (8) : 30 -49 . DOI: 10.12404/j.issn.1002-980X.J26033021
Year 2026 volume 45 Issue 8
41
9
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doi: 10.12404/j.issn.1002-980X.J26033021
  • Receive Date:2026-03-30
  • Online Date:2026-10-28
  • Published:2026-08-25
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  • Received:2026-03-30
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Affiliations
    1.Accounting College of Xinjiang University of Finance and Economics, Urumqi 830012, China
    2.School of Business, Sun Yat-sen University, Guangzhou 510275, China
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表12种不同金属材料的力学参数
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Family
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Number of
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Number of
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鹅膏菌科Amanitaceae 2 11 5.26 鹅膏菌属 Amanita 10 4.78
小菇科 Mycenaceae 2 12 5.74 丝盖伞属 Inocybe 5 2.39
多孔菌科 Polyporaceae 8 14 6.70 蜡蘑属 Laccaria 5 2.39
红菇科 Russulaceae 3 23 11.00 小皮伞属 Marasmius 6 2.87
小菇属 Mycena 11 5.26
光柄菇属 Pluteus 5 2.39
红菇属 Russula 17 8.13
栓菌属 Trametes 5 2.39
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