Replication Data and Code for “Forward-looking Carbon Regulation Shocks and Corporate Green Innovation: The Mediating Role of Signaling Effects”

The accompanying Stata code reproduces the descriptive statistics, baseline regressions, parallel-trends tests, placebo tests, propensity score matching difference-in-differences analysis, alternative dependent-variable tests, robustness checks, mechanism analysis, and heterogeneity analysis reported in the paper, and generates the corresponding tables, figures, and summary results. Corporate green innovation data are obtained from the Chinese Research Data Services Platform (CNRDS).

Data on firm financial characteristics, corporate governance, ownership, and carbon information disclosure are mainly obtained from the CSMAR database. The CBAM policy exposure variables are constructed by matching listed firms with customs trade records. This dataset contains only the cleaned derivative variables and analytical code required for the empirical analysis and does not include the original files downloaded from commercial databases.