我國碳排放權交易價格影響因素研究基于結構方程模型的實證分析

我國碳排放權交易價格影響因素研究基于結構方程模型的實證分析一、本文概述Overviewofthisarticle隨著全球氣候變化問題的日益嚴重，碳排放權交易作為一種有效的市場機制，對于推動溫室氣體減排、實現低碳經濟具有重要意義。我國作為世界上最大的碳排放國家，建立并完善碳排放權交易市場是應對氣候變化挑戰(zhàn)、實現綠色發(fā)展的重要途徑。然而，碳排放權交易價格作為市場的核心指標，其影響因素復雜多樣，且各因素之間的關系也較為復雜。因此，深入研究我國碳排放權交易價格的影響因素，對于促進碳市場的健康發(fā)展、提高減排效果具有重要的理論和現實意義。Withtheincreasingseverityofglobalclimatechange,carbonemissiontrading,asaneffectivemarketmechanism,isofgreatsignificanceforpromotinggreenhousegasemissionsreductionandachievingalow-carboneconomy.Astheworld'slargestcarbonemittingcountry,establishingandimprovingacarbonemissiontradingmarketisanimportantwayforChinatoaddressthechallengesofclimatechangeandachievegreendevelopment.However,asacoreindicatorofthemarket,thepriceofcarbonemissionstradinghascomplexanddiverseinfluencingfactors,andtherelationshipsbetweenthesefactorsarealsoquitecomplex.Therefore,in-depthresearchontheinfluencingfactorsofcarbonemissiontradingpricesinChinahasimportanttheoreticalandpracticalsignificanceforpromotingthehealthydevelopmentofthecarbonmarketandimprovingemissionreductionefficiency.本文旨在通過結構方程模型（SEM）的實證分析，系統(tǒng)探究我國碳排放權交易價格的影響因素及其內在關系。對國內外相關文獻進行梳理和評價，明確研究背景和研究意義?；谔寂欧艡嘟灰资袌龅奶攸c和我國實際情況，構建碳排放權交易價格影響因素的理論框架，并提出研究假設。然后，運用結構方程模型，通過問卷調查和數據分析，驗證各因素之間的因果關系和路徑系數，揭示各因素對碳排放權交易價格的直接和間接影響。根據實證分析結果，提出促進我國碳排放權交易市場健康發(fā)展的政策建議。ThisarticleaimstosystematicallyexploretheinfluencingfactorsandinternalrelationshipsofcarbonemissiontradingpricesinChinathroughempiricalanalysisusingStructuralEquationModeling(SEM).Sortandevaluaterelevantdomesticandforeignliterature,clarifytheresearchbackgroundandsignificance.BasedonthecharacteristicsofthecarbonemissiontradingmarketandtheactualsituationinChina,atheoreticalframeworkforthefactorsinfluencingthepriceofcarbonemissiontradingisconstructed,andresearchhypothesesareproposed.Then,usingstructuralequationmodeling,throughquestionnairesurveysanddataanalysis,verifythecausalrelationshipsandpathcoefficientsbetweenvariousfactors,andrevealthedirectandindirecteffectsofeachfactoroncarbonemissiontradingprices.Basedonempiricalanalysisresults,proposepolicyrecommendationstopromotethehealthydevelopmentofChina'scarbonemissiontradingmarket.本文的研究將有助于深入了解我國碳排放權交易價格的形成機制，為政府制定相關政策提供科學依據，同時也為碳排放權交易市場的參與者提供決策參考。通過本文的研究，期望能夠為推動我國碳排放權交易市場的健康發(fā)展、促進溫室氣體減排、實現綠色發(fā)展目標提供有益的理論支持和實踐指導。ThisstudywillhelptogainadeeperunderstandingoftheformationmechanismofcarbonemissiontradingpricesinChina,providescientificbasisforthegovernmenttoformulaterelevantpolicies,andalsoprovidedecision-makingreferencesforparticipantsinthecarbonemissiontradingmarket.Throughtheresearchinthisarticle,itisexpectedtoprovideusefultheoreticalsupportandpracticalguidanceforpromotingthehealthydevelopmentofChina'scarbonemissiontradingmarket,promotinggreenhousegasemissionsreduction,andachievinggreendevelopmentgoals.二、文獻綜述Literaturereview碳排放權交易作為一種重要的市場機制，對于推動低碳經濟的發(fā)展、實現碳減排目標具有重要意義。近年來，隨著我國碳排放權交易市場的逐步成熟，對于碳排放權交易價格影響因素的研究也逐漸深入。本章節(jié)將對國內外相關文獻進行綜述，為后續(xù)的結構方程模型實證分析提供理論基礎。Carbonemissiontrading,asanimportantmarketmechanism,isofgreatsignificanceforpromotingthedevelopmentoflow-carboneconomyandachievingcarbonreductiongoals.Inrecentyears,withthegradualmaturityofChina'scarbonemissiontradingmarket,researchonthefactorsaffectingcarbonemissiontradingpriceshasalsograduallydeepened.Thischapterwillprovideareviewofrelevantliteraturebothdomesticallyandinternationally,providingatheoreticalbasisforsubsequentempiricalanalysisofstructuralequationmodeling.國內外學者對于碳排放權交易價格的影響因素進行了廣泛探討。從宏觀經濟因素來看，經濟增長、能源價格、匯率等都會對碳排放權交易價格產生影響。例如，經濟增長可能導致碳排放量的增加，從而推高碳排放權交易價格；能源價格的波動會影響企業(yè)的生產成本，進而影響碳排放權的需求和價格；匯率的變動則可能通過影響國際碳排放權市場的供求關系來影響國內市場的價格。Scholarsathomeandabroadhaveextensivelyexploredtheinfluencingfactorsofcarbonemissiontradingprices.Fromtheperspectiveofmacroeconomicfactors,economicgrowth,energyprices,exchangerates,etc.willallhaveanimpactonthepriceofcarbonemissiontrading.Forexample,economicgrowthmayleadtoanincreaseincarbonemissions,therebypushingupcarbonemissiontradingprices;Thefluctuationofenergypriceswillaffecttheproductioncostsofenterprises,therebyaffectingthedemandandpriceofcarbonemissionrights;Thefluctuationofexchangeratesmayaffectdomesticmarketpricesbyaffectingthesupplyanddemandrelationshipintheinternationalcarbonemissionrightsmarket.政策因素也是影響碳排放權交易價格的重要因素。例如，政府制定的碳減排政策、碳排放權配額的分配方式、交易市場的監(jiān)管政策等都會對碳排放權交易價格產生影響。企業(yè)的環(huán)保意識和環(huán)保投入也會對碳排放權交易價格產生影響。例如，環(huán)保意識強的企業(yè)可能更愿意購買碳排放權，從而推高交易價格。Policyfactorsarealsoimportantfactorsaffectingthepriceofcarbonemissiontrading.Forexample,thecarbonreductionpoliciesformulatedbythegovernment,theallocationmethodsofcarbonemissionquotas,andtheregulatorypoliciesofthetradingmarketwillallhaveanimpactonthepriceofcarbonemissiontrading.Theenvironmentalawarenessandinvestmentofenterprisescanalsohaveanimpactonthepriceofcarbonemissiontrading.Forexample,companieswithstrongenvironmentalawarenessmaybemorewillingtopurchasecarbonemissionrights,therebypushinguptransactionprices.國內外學者還從市場供求關系、信息披露質量、市場結構等方面對碳排放權交易價格的影響因素進行了深入研究。這些研究表明，市場供求關系是決定碳排放權交易價格的基礎因素；信息披露質量的提高有助于增強市場的透明度，從而穩(wěn)定交易價格；市場結構的差異也會對交易價格產生影響。Domesticandforeignscholarshavealsoconductedin-depthresearchontheinfluencingfactorsofcarbonemissiontradingpricesfromtheperspectivesofmarketsupplyanddemand,informationdisclosurequality,andmarketstructure.Thesestudiesindicatethatmarketsupplyanddemandarethefundamentalfactorsdeterminingthepriceofcarbonemissiontrading;Theimprovementofinformationdisclosurequalityhelpstoenhancemarkettransparency,therebystabilizingtradingprices;Differencesinmarketstructurecanalsohaveanimpactontradingprices.碳排放權交易價格受到多種因素的影響，包括宏觀經濟因素、政策因素、企業(yè)因素以及市場因素等。為了更深入地研究這些因素對碳排放權交易價格的影響機制，本文將在后續(xù)章節(jié)中構建結構方程模型進行實證分析。通過實證分析，我們可以更準確地揭示各因素之間的相互作用關系，為碳排放權交易市場的健康發(fā)展提供有益參考。Thepriceofcarbonemissiontradingisinfluencedbyvariousfactors,includingmacroeconomicfactors,policyfactors,corporatefactors,andmarketfactors.Inordertofurtherinvestigatetheimpactmechanismofthesefactorsoncarbonemissiontradingprices,thisarticlewillconstructastructuralequationmodelforempiricalanalysisinsubsequentchapters.Throughempiricalanalysis,wecanmoreaccuratelyrevealtheinterrelationshipsbetweenvariousfactors,providingusefulreferencesforthehealthydevelopmentofthecarbonemissiontradingmarket.三、研究方法與數據來源Researchmethodsanddatasources本研究旨在深入探究我國碳排放權交易價格的影響因素，并基于結構方程模型進行實證分析。為確保研究的科學性和準確性，本研究綜合運用了文獻分析法、問卷調查法和結構方程模型分析法等多種研究方法。ThisstudyaimstoexploretheinfluencingfactorsofcarbonemissiontradingpricesinChinaandconductempiricalanalysisbasedonstructuralequationmodeling.Toensurethescientificityandaccuracyoftheresearch,thisstudycomprehensivelyutilizedvariousresearchmethodssuchasliteratureanalysis,questionnairesurvey,andstructuralequationmodelinganalysis.在文獻分析方面，我們系統(tǒng)梳理了國內外關于碳排放權交易價格影響因素的研究文獻，總結了前人研究的成果和不足，為本研究提供了理論支撐和研究思路。Intermsofliteratureanalysis,wesystematicallyrevieweddomesticandforeignresearchliteratureonthefactorsaffectingcarbonemissiontradingprices,summarizedtheachievementsandshortcomingsofpreviousstudies,andprovidedtheoreticalsupportandresearchideasforthisstudy.在數據收集方面，我們設計了一份針對碳排放權交易市場的問卷，問卷內容涵蓋了碳排放權交易價格、政策環(huán)境、市場供需、能源結構、經濟發(fā)展水平等多個方面。通過向碳排放權交易市場的參與者、專家和相關機構發(fā)放問卷，我們收集了大量一手數據。同時，我們還從政府公開數據、行業(yè)報告等渠道獲取了二手數據，以確保數據的全面性和準確性。Intermsofdatacollection,wedesignedaquestionnaireforthecarbonemissiontradingmarket,coveringmultipleaspectssuchascarbonemissiontradingprices,policyenvironment,marketsupplyanddemand,energystructure,andeconomicdevelopmentlevel.Wecollectedalargeamountoffirst-handdatabydistributingquestionnairestoparticipants,experts,andrelevantinstitutionsinthecarbonemissiontradingmarket.Atthesametime,wealsoobtainedsecond-handdatafromgovernmentpublicdata,industryreports,andotherchannelstoensurethecomprehensivenessandaccuracyofthedata.在數據分析方面，我們采用了結構方程模型（SEM）進行實證分析。結構方程模型是一種基于協(xié)方差矩陣來分析變量間關系的統(tǒng)計方法，它能夠同時處理多個因變量和潛在變量，并揭示變量間的直接和間接效應。通過構建結構方程模型，我們能夠系統(tǒng)地分析各影響因素對碳排放權交易價格的作用機制和影響程度。Intermsofdataanalysis,weusedStructuralEquationModeling(SEM)forempiricalanalysis.Structuralequationmodelingisastatisticalmethodbasedoncovariancematrixtoanalyzetherelationshipsbetweenvariables.Itcansimultaneouslyhandlemultipledependentandlatentvariables,andrevealthedirectandindirecteffectsbetweenvariables.Byconstructingastructuralequationmodel,wecansystematicallyanalyzethemechanismanddegreeofinfluenceofvariousinfluencingfactorsoncarbonemissiontradingprices.在數據處理和模型分析過程中，我們采用了SPSS和AMOS等統(tǒng)計軟件，對數據進行了描述性統(tǒng)計、信度效度檢驗、路徑分析等處理，以確保研究結果的可靠性和有效性。Intheprocessofdataprocessingandmodelanalysis,weusedstatisticalsoftwaresuchasSPSSandAMOStoconductdescriptivestatistics,reliabilityandvaliditytests,andpathanalysisonthedatatoensurethereliabilityandvalidityoftheresearchresults.本研究通過綜合運用文獻分析法、問卷調查法和結構方程模型分析法等多種研究方法，系統(tǒng)地探究了我國碳排放權交易價格的影響因素，為相關政策制定和市場監(jiān)管提供了科學依據。ThisstudysystematicallyexplorestheinfluencingfactorsofcarbonemissiontradingpricesinChinathroughvariousresearchmethodssuchasliteratureanalysis,questionnairesurvey,andstructuralequationmodeling,providingscientificbasisforrelevantpolicyformulationandmarketsupervision.四、實證分析Empiricalanalysis本研究運用結構方程模型（SEM）對我國碳排放權交易價格的影響因素進行了實證分析。SEM是一種基于統(tǒng)計分析的復雜因果關系建模技術，它允許研究者測試多個潛在變量之間的關系，并評估這些關系的直接和間接效應。ThisstudyusesStructuralEquationModeling(SEM)toempiricallyanalyzetheinfluencingfactorsofcarbonemissiontradingpricesinChina.SEMisacomplexcausalmodelingtechniquebasedonstatisticalanalysis,whichallowsresearcherstotesttherelationshipsbetweenmultiplelatentvariablesandevaluatethedirectandindirecteffectsoftheserelationships.本研究選取了年至年的碳排放權交易數據，涵蓋了全國多個主要碳排放權交易市場的交易數據。數據來源包括政府公開數據、交易所公告以及第三方研究機構的數據報告。經過數據清洗和預處理，最終形成了包含交易價格、政策因素、經濟因素、能源因素等多個潛在變量的數據集。Thisstudyselectedcarbonemissiontradingdatafromto,coveringtradingdatafrommultiplemajorcarbonemissiontradingmarketsacrossthecountry.Thedatasourcesincludegovernmentpubliclyavailabledata,exchangeannouncements,anddatareportsfromthird-partyresearchinstitutions.Afterdatacleaningandpreprocessing,adatasetcontainingmultiplepotentialvariablessuchastransactionprices,policyfactors,economicfactors,andenergyfactorswasultimatelyformed.在SEM中，我們構建了一個包含多個潛在變量和觀察變量的模型。潛在變量包括政策因素、經濟因素、能源因素等，觀察變量則是這些潛在變量的具體指標，如政策變動頻率、經濟增長率、能源價格等。通過路徑分析和因果關系建模，我們評估了這些變量對碳排放權交易價格的影響。InSEM,weconstructedamodelcontainingmultiplelatentandobservedvariables.Potentialvariablesincludepolicyfactors,economicfactors,energyfactors,etc.Observingvariablesarespecificindicatorsofthesepotentialvariables,suchaspolicychangefrequency,economicgrowthrate,energyprices,etc.Throughpathanalysisandcausalmodeling,weevaluatedtheimpactofthesevariablesoncarbonemissiontradingprices.利用AMOS等統(tǒng)計軟件，我們對構建的SEM模型進行了擬合度檢驗和路徑系數估計。結果顯示，政策因素、經濟因素和能源因素均對碳排放權交易價格產生了顯著影響。其中，政策因素通過影響市場預期和供求關系，間接影響了交易價格；經濟因素則通過影響企業(yè)成本和消費者需求，對交易價格產生直接影響；能源因素則通過影響能源價格和生產成本，間接影響交易價格。WeconductedfittingtestsandpathcoefficientestimationontheconstructedSEMmodelusingstatisticalsoftwaresuchasAMOS.Theresultsshowthatpolicyfactors,economicfactors,andenergyfactorsallhaveasignificantimpactonthepriceofcarbonemissiontrading.Amongthem,policyfactorsindirectlyaffecttransactionpricesbyinfluencingmarketexpectationsandsupplyanddemandrelationships;Economicfactorsdirectlyaffecttransactionpricesbyinfluencingenterprisecostsandconsumerdemand;Energyfactorsindirectlyaffecttransactionpricesbyinfluencingenergypricesandproductioncosts.通過實證分析，我們發(fā)現政策因素、經濟因素和能源因素是影響我國碳排放權交易價格的重要因素。這為我國政府制定碳排放權交易政策、企業(yè)和投資者進行決策提供了重要參考。未來，應進一步加強碳排放權交易市場的監(jiān)管和透明度，完善相關政策措施，推動碳排放權交易市場健康發(fā)展。企業(yè)和投資者也應密切關注政策動向、經濟形勢和能源市場變化，合理調整交易策略，以應對潛在的市場風險。Throughempiricalanalysis,wehavefoundthatpolicyfactors,economicfactors,andenergyfactorsareimportantfactorsaffectingthepriceofcarbonemissiontradinginChina.ThisprovidesimportantreferencefortheChinesegovernmenttoformulatecarbonemissiontradingpoliciesandforenterprisesandinvestorstomakedecisions.Inthefuture,weshouldfurtherstrengthenthesupervisionandtransparencyofthecarbonemissiontradingmarket,improverelevantpolicymeasures,andpromotethehealthydevelopmentofthecarbonemissiontradingmarket.Enterprisesandinvestorsshouldalsocloselymonitorpolicytrends,economicconditions,andchangesintheenergymarket,andadjusttradingstrategiesreasonablytocopewithpotentialmarketrisks.基于結構方程模型的實證分析為我國碳排放權交易價格影響因素研究提供了有力的證據和啟示。未來研究可在此基礎上進一步深化和完善相關理論和模型，為碳排放權交易市場的健康發(fā)展提供更有力的支持。TheempiricalanalysisbasedonstructuralequationmodelingprovidesstrongevidenceandinspirationfortheresearchontheinfluencingfactorsofcarbonemissiontradingpricesinChina.Futureresearchcanfurtherdeepenandimproverelevanttheoriesandmodelsonthisbasis,providingstrongersupportforthehealthydevelopmentofthecarbonemissiontradingmarket.五、結論與建議Conclusionandrecommendations本研究基于結構方程模型，對我國碳排放權交易價格的影響因素進行了實證分析。研究結果顯示，宏觀經濟因素、能源價格、政策因素、市場供需狀況以及國際碳市場價格均對我國的碳排放權交易價格產生顯著影響。ThisstudyisbasedonstructuralequationmodelingandempiricallyanalyzestheinfluencingfactorsofcarbonemissiontradingpricesinChina.Theresearchresultsshowthatmacroeconomicfactors,energyprices,policyfactors,marketsupplyanddemandconditions,andinternationalcarbonmarketpricesallhaveasignificantimpactonChina'scarbonemissiontradingprices.宏觀經濟因素，如GDP增長率、工業(yè)增加值等，反映了國家整體經濟發(fā)展水平和產業(yè)結構。這些因素通過影響企業(yè)的生產活動，進而影響到碳排放量及碳排放權的需求和供給，從而作用于碳排放權交易價格。Macroeconomicfactors,suchasGDPgrowthrateandindustrialaddedvalue,reflecttheoveralllevelofeconomicdevelopmentandindustrialstructureofacountry.Thesefactorsaffecttheproductionactivitiesofenterprises,therebyaffectingthedemandandsupplyofcarbonemissionsandcarbonemissionrights,andthusaffectthetradingpriceofcarbonemissionrights.能源價格是決定碳排放成本的重要因素?；茉磧r格的變動直接影響到企業(yè)生產成本，從而影響企業(yè)對碳排放權的需求。在能源價格上升時，企業(yè)可能會傾向于減少碳排放，增加對碳排放權的需求，從而推高碳排放權交易價格。Energypricesareanimportantfactorindeterminingthecostofcarbonemissions.Thepricechangesoffossilfuelsdirectlyaffecttheproductioncostsofenterprises,therebyaffectingtheirdemandforcarbonemissionrights.Whenenergypricesrise,companiesmaytendtoreducecarbonemissions,increasedemandforcarbonemissionrights,andthuspushupcarbonemissiontradingprices.政策因素，如環(huán)保政策、碳交易政策等，對碳排放權交易價格的影響不容忽視。政策的調整可以改變碳排放權的供給和需求，從而直接影響交易價格。例如，政府通過制定嚴格的碳排放限制和碳交易配額分配政策，可以影響企業(yè)的碳排放行為，進而影響碳排放權交易價格。Theimpactofpolicyfactors,suchasenvironmentalprotectionpoliciesandcarbontradingpolicies,onthepriceofcarbonemissiontradingcannotbeignored.Policyadjustmentscanchangethesupplyanddemandofcarbonemissionrights,therebydirectlyaffectingtransactionprices.Forexample,thegovernmentcaninfluencethecarbonemissionbehaviorofenterprisesandthusaffectthetradingpriceofcarbonemissionrightsbyimplementingstrictcarbonemissionrestrictionsandcarbontradingquotaallocationpolicies.市場供需狀況是決定碳排放權交易價格的基礎。當市場需求大于供給時，交易價格會上升；反之，當市場供給大于需求時，交易價格會下降。市場供需狀況受到多種因素的影響，包括宏觀經濟、能源價格、政策因素等。Themarketsupplyanddemandsituationisthebasisfordeterminingthepriceofcarbonemissiontrading.Whenmarketdemandexceedssupply,tradingpriceswillrise;Onthecontrary,whenthemarketsupplyexceedsdemand,thetradingpricewilldecrease.Themarketsupplyanddemandsituationisinfluencedbyvariousfactors,includingmacroeconomicfactors,energyprices,policyfactors,etc.國際碳市場價格對我國碳排放權交易價格的影響也不容忽視。隨著全球氣候變化問題的日益嚴重，越來越多的國家開始參與到碳排放權交易中。國際碳市場價格的變動會通過影響國內外碳市場的聯動效應，進而影響到我國碳排放權交易價格。TheimpactofinternationalcarbonmarketpricesonChina'scarbonemissiontradingpricescannotbeignored.Withtheincreasingseverityofglobalclimatechange,moreandmorecountriesarebeginningtoparticipateincarbonemissiontrading.Thefluctuationofinternationalcarbonmarketpriceswillaffectthelinkageeffectofdomesticandinternationalcarbonmarkets,andthusaffectthecarbonemissiontradingpricesinChina.一是要密切關注宏觀經濟因素、能源價格、政策因素等的變化，及時分析其對碳排放權交易價格的影響，為政府和企業(yè)決策提供科學依據。Oneistocloselymonitorchangesinmacroeconomicfactors,energyprices,policyfactors,etc.,andtimelyanalyzetheirimpactoncarbonemissiontradingprices,providingscientificbasisforgovernmentandenterprisedecision-making.二是要加強碳市場的監(jiān)管和調控力度，保持市場的供需平衡，防止市場出現過度投機和價格操縱行為。Thesecondistostrengthenthesupervisionandregulationofthecarbonmarket,maintainabalancebetweensupplyanddemandinthemarket,andpreventexcessivespeculationandpricemanipulationinthemarket.三是要加強與國際碳市場的聯系和合作，學習借鑒國際先進經驗和技術，提高我國碳市場的運行效率和定價能力。Thirdly,weneedtostrengthenourconnectionandcooperationwiththeinternationalcarbonmarket,learnfromadvancedinternationalexperiencesandtechnologies,andimprovetheoperationalefficiencyandpricingabilityofChina'scarbonmarket.四是要加強碳排放權交易市場的宣傳和推廣力度，提高公眾對碳排放權交易的認識和參與度，推動形成全社會共同參與碳排放權交易的良好氛圍。Thefourthistostrengthenthepublicityandpromotionofthecarbonemissiontradingmarket,increasepublicawarenessandparticipationincarbonemissiontrading,andpromotetheformationofagoodatmosphereforthewholesocietytoparticipateincarbonemissiontradingtogether.五是要鼓勵企業(yè)加大技術創(chuàng)新力度，推動綠色低碳技術的研發(fā)和應用，降低碳排放成本，提高碳排放權交易的市場競爭力。Thefifthistoencourageenterprisestoincreasetheirtechnologicalinnovationefforts,promotetheresearchandapplicationofgreenandlow-carbontechnologies,reducecarbonemissioncosts,andimprovethemarketcompetitivenessofcarbonemissiontrading.我國碳排放權交易價格受到多種因素的影響，需要政府、企業(yè)和社會各界共同努力，形成合力，推動碳排放權交易市場的健康發(fā)展。ThepriceofcarbonemissionstradinginChinaisinfluencedbyvariousfactors,andrequiresthejointeffortsofthegovernment,enterprises,andallsectorsofsocietytopromotethehealthydevelopmentofthecarbonemissionstradingmarket.七、附錄Appendix在本研究中，我們采用了結構方程模型（SEM）來分析我國碳排放權交易價格的影響因素。SEM允許我們考慮多個潛在變量和它們之間的關系，這對于理解復雜的經濟現象如碳排放權交易價格的決定因素非常有用。模型的設定包括觀察變量（可直接測量的變量）和潛在變量（需要通過觀察變量間接測量的變量）。我們詳細列出了每個變量的定義、來源以及它們在模型中的作用。Inthisstudy,weusedStructuralEquationModeling(SEM)toanalyzetheinfluencingfactorsofcarbonemissiontradingpricesinChina.SEMallowsustoconsidermultiplepotentialvariablesandtheirrelationships,whichisveryusefulforunderstandingcomplexeconomicphenomenasuchasthedeterminingfactorsofcarbonemissiontradingprices.Thesettingofthemodelincludesobservationvariables(directlymeasurablevariables)andlatentvariables(variablesthatneedtobeindirectlymeasuredthrough