Table 5 The profit relationship of M1 (M2) in different scenarios.

From: Manufacturers’ digital transformation under carbon cap-and-trade policy: investment strategy and environmental impact

pe < pe0

\({m}_{0}^{h} \,< \,m\le {m}_{2}\)

m2 < m ≤ m1

m > m1

 

\({\pi }_{1H}^{DD\ast }\, > \,{\pi }_{1H}^{ND\ast }\), \({\pi }_{1H}^{DN\ast }\, > \,{\pi }_{1}^{NN\ast }\)

\({\pi }_{2H}^{DD\ast } \,> \,{\pi }_{2H}^{DN\ast }\), \({\pi }_{2H}^{ND\ast }\, > \,{\pi }_{2}^{NN\ast }\)

\({\pi }_{1H}^{DD\ast }\, > \,{\pi }_{1L}^{ND\ast }\), \({\pi }_{1L}^{DN\ast }\, > \,{\pi }_{1}^{NN\ast }\)

\({\pi }_{2H}^{DD\ast } \,> \,{\pi }_{2L}^{DN\ast }\), \({\pi }_{2L}^{ND\ast } \,> \,{\pi }_{2}^{NN\ast }\)

\({\pi }_{1L}^{DD\ast }\, > \,{\pi }_{1L}^{ND\ast }\), \({\pi }_{1L}^{DN\ast }\, > \,{\pi }_{1}^{NN\ast }\)

\({\pi }_{2L}^{DD\ast }\, > \,{\pi }_{2L}^{DN\ast }\), \({\pi }_{2L}^{ND\ast } \,> \,{\pi }_{2}^{NN\ast }\)

pe > pe0

\({m}_{0}^{l}\, < \,m\le {m}_{1}\)

\({m}_{1} \,< \,m\le {m}_{2}\)

m > m2

 

\({\pi }_{1H}^{DD\ast } \,>\, {\pi }_{1H}^{ND\ast }\), \({\pi }_{1H}^{DN\ast } \,> \,{\pi }_{1}^{NN\ast }\)

\({\pi }_{2H}^{DD\ast } \,> \,{\pi }_{2H}^{DN\ast }\), \({\pi }_{2H}^{ND\ast } \,> \,{\pi }_{2}^{NN\ast }\)

\({\pi }_{1H}^{DD\ast }\, > \,{\pi }_{1L}^{ND\ast }\), \({\pi }_{1L}^{DN\ast }\, > \,{\pi }_{1}^{NN\ast }\)

\({\pi }_{2H}^{DD\ast } \,> \,{\pi }_{2L}^{DN\ast }\), \({\pi }_{2L}^{ND\ast }\, > \,{\pi }_{2}^{NN\ast }\)

\({\pi }_{1L}^{DD\ast }\, > \,{\pi }_{1L}^{ND\ast }\), \({\pi }_{1L}^{DN\ast }\, > \,{\pi }_{1}^{NN\ast }\)

\({\pi }_{2L}^{DD\ast } \,> \,{\pi }_{2L}^{DN\ast }\), \({\pi }_{2L}^{ND\ast }\, > \,{\pi }_{2}^{NN\ast }\)