我国碳排放权交易价格影响因素研究基于结构方程模型的实证分析

我国碳排放权交易价格影响因素研究基于结构方程模型的实证分析一、本文概述Overviewofthisarticle随着全球气候变化问题的日益严重，碳排放权交易作为一种有效的市场机制，对于推动温室气体减排、实现低碳经济具有重要意义。我国作为世界上最大的碳排放国家，建立并完善碳排放权交易市场是应对气候变化挑战、实现绿色发展的重要途径。然而，碳排放权交易价格作为市场的核心指标，其影响因素复杂多样，且各因素之间的关系也较为复杂。因此，深入研究我国碳排放权交易价格的影响因素，对于促进碳市场的健康发展、提高减排效果具有重要的理论和现实意义。Withtheincreasingseverityofglobalclimatechange,carbonemissiontrading,asaneffectivemarketmechanism,isofgreatsignificanceforpromotinggreenhousegasemissionsreductionandachievingalow-carboneconomy.Astheworld'slargestcarbonemittingcountry,establishingandimprovingacarbonemissiontradingmarketisanimportantwayforChinatoaddressthechallengesofclimatechangeandachievegreendevelopment.However,asacoreindicatorofthemarket,thepriceofcarbonemissionstradinghascomplexanddiverseinfluencingfactors,andtherelationshipsbetweenthesefactorsarealsoquitecomplex.Therefore,in-depthresearchontheinfluencingfactorsofcarbonemissiontradingpricesinChinahasimportanttheoreticalandpracticalsignificanceforpromotingthehealthydevelopmentofthecarbonmarketandimprovingemissionreductionefficiency.本文旨在通过结构方程模型（SEM）的实证分析，系统探究我国碳排放权交易价格的影响因素及其内在关系。对国内外相关文献进行梳理和评价，明确研究背景和研究意义。基于碳排放权交易市场的特点和我国实际情况，构建碳排放权交易价格影响因素的理论框架，并提出研究假设。然后，运用结构方程模型，通过问卷调查和数据分析，验证各因素之间的因果关系和路径系数，揭示各因素对碳排放权交易价格的直接和间接影响。根据实证分析结果，提出促进我国碳排放权交易市场健康发展的政策建议。ThisarticleaimstosystematicallyexploretheinfluencingfactorsandinternalrelationshipsofcarbonemissiontradingpricesinChinathroughempiricalanalysisusingStructuralEquationModeling(SEM).Sortandevaluaterelevantdomesticandforeignliterature,clarifytheresearchbackgroundandsignificance.BasedonthecharacteristicsofthecarbonemissiontradingmarketandtheactualsituationinChina,atheoreticalframeworkforthefactorsinfluencingthepriceofcarbonemissiontradingisconstructed,andresearchhypothesesareproposed.Then,usingstructuralequationmodeling,throughquestionnairesurveysanddataanalysis,verifythecausalrelationshipsandpathcoefficientsbetweenvariousfactors,andrevealthedirectandindirecteffectsofeachfactoroncarbonemissiontradingprices.Basedonempiricalanalysisresults,proposepolicyrecommendationstopromotethehealthydevelopmentofChina'scarbonemissiontradingmarket.本文的研究将有助于深入了解我国碳排放权交易价格的形成机制，为政府制定相关政策提供科学依据，同时也为碳排放权交易市场的参与者提供决策参考。通过本文的研究，期望能够为推动我国碳排放权交易市场的健康发展、促进温室气体减排、实现绿色发展目标提供有益的理论支持和实践指导。ThisstudywillhelptogainadeeperunderstandingoftheformationmechanismofcarbonemissiontradingpricesinChina,providescientificbasisforthegovernmenttoformulaterelevantpolicies,andalsoprovidedecision-makingreferencesforparticipantsinthecarbonemissiontradingmarket.Throughtheresearchinthisarticle,itisexpectedtoprovideusefultheoreticalsupportandpracticalguidanceforpromotingthehealthydevelopmentofChina'scarbonemissiontradingmarket,promotinggreenhousegasemissionsreduction,andachievinggreendevelopmentgoals.二、文献综述Literaturereview碳排放权交易作为一种重要的市场机制，对于推动低碳经济的发展、实现碳减排目标具有重要意义。近年来，随着我国碳排放权交易市场的逐步成熟，对于碳排放权交易价格影响因素的研究也逐渐深入。本章节将对国内外相关文献进行综述，为后续的结构方程模型实证分析提供理论基础。Carbonemissiontrading,asanimportantmarketmechanism,isofgreatsignificanceforpromotingthedevelopmentoflow-carboneconomyandachievingcarbonreductiongoals.Inrecentyears,withthegradualmaturityofChina'scarbonemissiontradingmarket,researchonthefactorsaffectingcarbonemissiontradingpriceshasalsograduallydeepened.Thischapterwillprovideareviewofrelevantliteraturebothdomesticallyandinternationally,providingatheoreticalbasisforsubsequentempiricalanalysisofstructuralequationmodeling.国内外学者对于碳排放权交易价格的影响因素进行了广泛探讨。从宏观经济因素来看，经济增长、能源价格、汇率等都会对碳排放权交易价格产生影响。例如，经济增长可能导致碳排放量的增加，从而推高碳排放权交易价格；能源价格的波动会影响企业的生产成本，进而影响碳排放权的需求和价格；汇率的变动则可能通过影响国际碳排放权市场的供求关系来影响国内市场的价格。Scholarsathomeandabroadhaveextensivelyexploredtheinfluencingfactorsofcarbonemissiontradingprices.Fromtheperspectiveofmacroeconomicfactors,economicgrowth,energyprices,exchangerates,etc.willallhaveanimpactonthepriceofcarbonemissiontrading.Forexample,economicgrowthmayleadtoanincreaseincarbonemissions,therebypushingupcarbonemissiontradingprices;Thefluctuationofenergypriceswillaffecttheproductioncostsofenterprises,therebyaffectingthedemandandpriceofcarbonemissionrights;Thefluctuationofexchangeratesmayaffectdomesticmarketpricesbyaffectingthesupplyanddemandrelationshipintheinternationalcarbonemissionrightsmarket.政策因素也是影响碳排放权交易价格的重要因素。例如，政府制定的碳减排政策、碳排放权配额的分配方式、交易市场的监管政策等都会对碳排放权交易价格产生影响。企业的环保意识和环保投入也会对碳排放权交易价格产生影响。例如，环保意识强的企业可能更愿意购买碳排放权，从而推高交易价格。Policyfactorsarealsoimportantfactorsaffectingthepriceofcarbonemissiontrading.Forexample,thecarbonreductionpoliciesformulatedbythegovernment,theallocationmethodsofcarbonemissionquotas,andtheregulatorypoliciesofthetradingmarketwillallhaveanimpactonthepriceofcarbonemissiontrading.Theenvironmentalawarenessandinvestmentofenterprisescanalsohaveanimpactonthepriceofcarbonemissiontrading.Forexample,companieswithstrongenvironmentalawarenessmaybemorewillingtopurchasecarbonemissionrights,therebypushinguptransactionprices.国内外学者还从市场供求关系、信息披露质量、市场结构等方面对碳排放权交易价格的影响因素进行了深入研究。这些研究表明，市场供求关系是决定碳排放权交易价格的基础因素；信息披露质量的提高有助于增强市场的透明度，从而稳定交易价格；市场结构的差异也会对交易价格产生影响。Domesticandforeignscholarshavealsoconductedin-depthresearchontheinfluencingfactorsofcarbonemissiontradingpricesfromtheperspectivesofmarketsupplyanddemand,informationdisclosurequality,andmarketstructure.Thesestudiesindicatethatmarketsupplyanddemandarethefundamentalfactorsdeterminingthepriceofcarbonemissiontrading;Theimprovementofinformationdisclosurequalityhelpstoenhancemarkettransparency,therebystabilizingtradingprices;Differencesinmarketstructurecanalsohaveanimpactontradingprices.碳排放权交易价格受到多种因素的影响，包括宏观经济因素、政策因素、企业因素以及市场因素等。为了更深入地研究这些因素对碳排放权交易价格的影响机制，本文将在后续章节中构建结构方程模型进行实证分析。通过实证分析，我们可以更准确地揭示各因素之间的相互作用关系，为碳排放权交易市场的健康发展提供有益参考。Thepriceofcarbonemissiontradingisinfluencedbyvariousfactors,includingmacroeconomicfactors,policyfactors,corporatefactors,andmarketfactors.Inordertofurtherinvestigatetheimpactmechanismofthesefactorsoncarbonemissiontradingprices,thisarticlewillconstructastructuralequationmodelforempiricalanalysisinsubsequentchapters.Throughempiricalanalysis,wecanmoreaccuratelyrevealtheinterrelationshipsbetweenvariousfactors,providingusefulreferencesforthehealthydevelopmentofthecarbonemissiontradingmarket.三、研究方法与数据来源Researchmethodsanddatasources本研究旨在深入探究我国碳排放权交易价格的影响因素，并基于结构方程模型进行实证分析。为确保研究的科学性和准确性，本研究综合运用了文献分析法、问卷调查法和结构方程模型分析法等多种研究方法。ThisstudyaimstoexploretheinfluencingfactorsofcarbonemissiontradingpricesinChinaandconductempiricalanalysisbasedonstructuralequationmodeling.Toensurethescientificityandaccuracyoftheresearch,thisstudycomprehensivelyutilizedvariousresearchmethodssuchasliteratureanalysis,questionnairesurvey,andstructuralequationmodelinganalysis.在文献分析方面，我们系统梳理了国内外关于碳排放权交易价格影响因素的研究文献，总结了前人研究的成果和不足，为本研究提供了理论支撑和研究思路。Intermsofliteratureanalysis,wesystematicallyrevieweddomesticandforeignresearchliteratureonthefactorsaffectingcarbonemissiontradingprices,summarizedtheachievementsandshortcomingsofpreviousstudies,andprovidedtheoreticalsupportandresearchideasforthisstudy.在数据收集方面，我们设计了一份针对碳排放权交易市场的问卷，问卷内容涵盖了碳排放权交易价格、政策环境、市场供需、能源结构、经济发展水平等多个方面。通过向碳排放权交易市场的参与者、专家和相关机构发放问卷，我们收集了大量一手数据。同时，我们还从政府公开数据、行业报告等渠道获取了二手数据，以确保数据的全面性和准确性。Intermsofdatacollection,wedesignedaquestionnaireforthecarbonemissiontradingmarket,coveringmultipleaspectssuchascarbonemissiontradingprices,policyenvironment,marketsupplyanddemand,energystructure,andeconomicdevelopmentlevel.Wecollectedalargeamountoffirst-handdatabydistributingquestionnairestoparticipants,experts,andrelevantinstitutionsinthecarbonemissiontradingmarket.Atthesametime,wealsoobtainedsecond-handdatafromgovernmentpublicdata,industryreports,andotherchannelstoensurethecomprehensivenessandaccuracyofthedata.在数据分析方面，我们采用了结构方程模型（SEM）进行实证分析。结构方程模型是一种基于协方差矩阵来分析变量间关系的统计方法，它能够同时处理多个因变量和潜在变量，并揭示变量间的直接和间接效应。通过构建结构方程模型，我们能够系统地分析各影响因素对碳排放权交易价格的作用机制和影响程度。Intermsofdataanalysis,weusedStructuralEquationModeling(SEM)forempiricalanalysis.Structuralequationmodelingisastatisticalmethodbasedoncovariancematrixtoanalyzetherelationshipsbetweenvariables.Itcansimultaneouslyhandlemultipledependentandlatentvariables,andrevealthedirectandindirecteffectsbetweenvariables.Byconstructingastructuralequationmodel,wecansystematicallyanalyzethemechanismanddegreeofinfluenceofvariousinfluencingfactorsoncarbonemissiontradingprices.在数据处理和模型分析过程中，我们采用了SPSS和AMOS等统计软件，对数据进行了描述性统计、信度效度检验、路径分析等处理，以确保研究结果的可靠性和有效性。Intheprocessofdataprocessingandmodelanalysis,weusedstatisticalsoftwaresuchasSPSSandAMOStoconductdescriptivestatistics,reliabilityandvaliditytests,andpathanalysisonthedatatoensurethereliabilityandvalidityoftheresearchresults.本研究通过综合运用文献分析法、问卷调查法和结构方程模型分析法等多种研究方法，系统地探究了我国碳排放权交易价格的影响因素，为相关政策制定和市场监管提供了科学依据。ThisstudysystematicallyexplorestheinfluencingfactorsofcarbonemissiontradingpricesinChinathroughvariousresearchmethodssuchasliteratureanalysis,questionnairesurvey,andstructuralequationmodeling,providingscientificbasisforrelevantpolicyformulationandmarketsupervision.四、实证分析Empiricalanalysis本研究运用结构方程模型（SEM）对我国碳排放权交易价格的影响因素进行了实证分析。SEM是一种基于统计分析的复杂因果关系建模技术，它允许研究者测试多个潜在变量之间的关系，并评估这些关系的直接和间接效应。ThisstudyusesStructuralEquationModeling(SEM)toempiricallyanalyzetheinfluencingfactorsofcarbonemissiontradingpricesinChina.SEMisacomplexcausalmodelingtechniquebasedonstatisticalanalysis,whichallowsresearcherstotesttherelationshipsbetweenmultiplelatentvariablesandevaluatethedirectandindirecteffectsoftheserelationships.本研究选取了年至年的碳排放权交易数据，涵盖了全国多个主要碳排放权交易市场的交易数据。数据来源包括政府公开数据、交易所公告以及第三方研究机构的数据报告。经过数据清洗和预处理，最终形成了包含交易价格、政策因素、经济因素、能源因素等多个潜在变量的数据集。Thisstudyselectedcarbonemissiontradingdatafromto,coveringtradingdatafrommultiplemajorcarbonemissiontradingmarketsacrossthecountry.Thedatasourcesincludegovernmentpubliclyavailabledata,exchangeannouncements,anddatareportsfromthird-partyresearchinstitutions.Afterdatacleaningandpreprocessing,adatasetcontainingmultiplepotentialvariablessuchastransactionprices,policyfactors,economicfactors,andenergyfactorswasultimatelyformed.在SEM中，我们构建了一个包含多个潜在变量和观察变量的模型。潜在变量包括政策因素、经济因素、能源因素等，观察变量则是这些潜在变量的具体指标，如政策变动频率、经济增长率、能源价格等。通过路径分析和因果关系建模，我们评估了这些变量对碳排放权交易价格的影响。InSEM,weconstructedamodelcontainingmultiplelatentandobservedvariables.Potentialvariablesincludepolicyfactors,economicfactors,energyfactors,etc.Observingvariablesarespecificindicatorsofthesepotentialvariables,suchaspolicychangefrequency,economicgrowthrate,energyprices,etc.Throughpathanalysisandcausalmodeling,weevaluatedtheimpactofthesevariablesoncarbonemissiontradingprices.利用AMOS等统计软件，我们对构建的SEM模型进行了拟合度检验和路径系数估计。结果显示，政策因素、经济因素和能源因素均对碳排放权交易价格产生了显著影响。其中，政策因素通过影响市场预期和供求关系，间接影响了交易价格；经济因素则通过影响企业成本和消费者需求，对交易价格产生直接影响；能源因素则通过影响能源价格和生产成本，间接影响交易价格。WeconductedfittingtestsandpathcoefficientestimationontheconstructedSEMmodelusingstatisticalsoftwaresuchasAMOS.Theresultsshowthatpolicyfactors,economicfactors,andenergyfactorsallhaveasignificantimpactonthepriceofcarbonemissiontrading.Amongthem,policyfactorsindirectlyaffecttransactionpricesbyinfluencingmarketexpectationsandsupplyanddemandrelationships;Economicfactorsdirectlyaffecttransactionpricesbyinfluencingenterprisecostsandconsumerdemand;Energyfactorsindirectlyaffecttransactionpricesbyinfluencingenergypricesandproductioncosts.通过实证分析，我们发现政策因素、经济因素和能源因素是影响我国碳排放权交易价格的重要因素。这为我国政府制定碳排放权交易政策、企业和投资者进行决策提供了重要参考。未来，应进一步加强碳排放权交易市场的监管和透明度，完善相关政策措施，推动碳排放权交易市场健康发展。企业和投资者也应密切关注政策动向、经济形势和能源市场变化，合理调整交易策略，以应对潜在的市场风险。Throughempiricalanalysis,wehavefoundthatpolicyfactors,economicfactors,andenergyfactorsareimportantfactorsaffectingthepriceofcarbonemissiontradinginChina.ThisprovidesimportantreferencefortheChinesegovernmenttoformulatecarbonemissiontradingpoliciesandforenterprisesandinvestorstomakedecisions.Inthefuture,weshouldfurtherstrengthenthesupervisionandtransparencyofthecarbonemissiontradingmarket,improverelevantpolicymeasures,andpromotethehealthydevelopmentofthecarbonemissiontradingmarket.Enterprisesandinvestorsshouldalsocloselymonitorpolicytrends,economicconditions,andchangesintheenergymarket,andadjusttradingstrategiesreasonablytocopewithpotentialmarketrisks.基于结构方程模型的实证分析为我国碳排放权交易价格影响因素研究提供了有力的证据和启示。未来研究可在此基础上进一步深化和完善相关理论和模型，为碳排放权交易市场的健康发展提供更有力的支持。TheempiricalanalysisbasedonstructuralequationmodelingprovidesstrongevidenceandinspirationfortheresearchontheinfluencingfactorsofcarbonemissiontradingpricesinChina.Futureresearchcanfurtherdeepenandimproverelevanttheoriesandmodelsonthisbasis,providingstrongersupportforthehealthydevelopmentofthecarbonemissiontradingmarket.五、结论与建议Conclusionandrecommendations本研究基于结构方程模型，对我国碳排放权交易价格的影响因素进行了实证分析。研究结果显示，宏观经济因素、能源价格、政策因素、市场供需状况以及国际碳市场价格均对我国的碳排放权交易价格产生显著影响。ThisstudyisbasedonstructuralequationmodelingandempiricallyanalyzestheinfluencingfactorsofcarbonemissiontradingpricesinChina.Theresearchresultsshowthatmacroeconomicfactors,energyprices,policyfactors,marketsupplyanddemandconditions,andinternationalcarbonmarketpricesallhaveasignificantimpactonChina'scarbonemissiontradingprices.宏观经济因素，如GDP增长率、工业增加值等，反映了国家整体经济发展水平和产业结构。这些因素通过影响企业的生产活动，进而影响到碳排放量及碳排放权的需求和供给，从而作用于碳排放权交易价格。Macroeconomicfactors,suchasGDPgrowthrateandindustrialaddedvalue,reflecttheoveralllevelofeconomicdevelopmentandindustrialstructureofacountry.Thesefactorsaffecttheproductionactivitiesofenterprises,therebyaffectingthedemandandsupplyofcarbonemissionsandcarbonemissionrights,andthusaffectthetradingpriceofcarbonemissionrights.能源价格是决定碳排放成本的重要因素。化石能源价格的变动直接影响到企业生产成本，从而影响企业对碳排放权的需求。在能源价格上升时，企业可能会倾向于减少碳排放，增加对碳排放权的需求，从而推高碳排放权交易价格。Energypricesareanimportantfactorindeterminingthecostofcarbonemissions.Thepricechangesoffossilfuelsdirectlyaffecttheproductioncostsofenterprises,therebyaffectingtheirdemandforcarbonemissionrights.Whenenergypricesrise,companiesmaytendtoreducecarbonemissions,increasedemandforcarbonemissionrights,andthuspushupcarbonemissiontradingprices.政策因素，如环保政策、碳交易政策等，对碳排放权交易价格的影响不容忽视。政策的调整可以改变碳排放权的供给和需求，从而直接影响交易价格。例如，政府通过制定严格的碳排放限制和碳交易配额分配政策，可以影响企业的碳排放行为，进而影响碳排放权交易价格。Theimpactofpolicyfactors,suchasenvironmentalprotectionpoliciesandcarbontradingpolicies,onthepriceofcarbonemissiontradingcannotbeignored.Policyadjustmentscanchangethesupplyanddemandofcarbonemissionrights,therebydirectlyaffectingtransactionprices.Forexample,thegovernmentcaninfluencethecarbonemissionbehaviorofenterprisesandthusaffectthetradingpriceofcarbonemissionrightsbyimplementingstrictcarbonemissionrestrictionsandcarbontradingquotaallocationpolicies.市场供需状况是决定碳排放权交易价格的基础。当市场需求大于供给时，交易价格会上升；反之，当市场供给大于需求时，交易价格会下降。市场供需状况受到多种因素的影响，包括宏观经济、能源价格、政策因素等。Themarketsupplyanddemandsituationisthebasisfordeterminingthepriceofcarbonemissiontrading.Whenmarketdemandexceedssupply,tradingpriceswillrise;Onthecontrary,whenthemarketsupplyexceedsdemand,thetradingpricewilldecrease.Themarketsupplyanddemandsituationisinfluencedbyvariousfactors,includingmacroeconomicfactors,energyprices,policyfactors,etc.国际碳市场价格对我国碳排放权交易价格的影响也不容忽视。随着全球气候变化问题的日益严重，越来越多的国家开始参与到碳排放权交易中。国际碳市场价格的变动会通过影响国内外碳市场的联动效应，进而影响到我国碳排放权交易价格。TheimpactofinternationalcarbonmarketpricesonChina'scarbonemissiontradingpricescannotbeignored.Withtheincreasingseverityofglobalclimatechange,moreandmorecountriesarebeginningtoparticipateincarbonemissiontrading.Thefluctuationofinternationalcarbonmarketpriceswillaffectthelinkageeffectofdomesticandinternationalcarbonmarkets,andthusaffectthecarbonemissiontradingpricesinChina.一是要密切关注宏观经济因素、能源价格、政策因素等的变化，及时分析其对碳排放权交易价格的影响，为政府和企业决策提供科学依据。Oneistocloselymonitorchangesinmacroeconomicfactors,energyprices,policyfactors,etc.,andtimelyanalyzetheirimpactoncarbonemissiontradingprices,providingscientificbasisforgovernmentandenterprisedecision-making.二是要加强碳市场的监管和调控力度，保持市场的供需平衡，防止市场出现过度投机和价格操纵行为。Thesecondistostrengthenthesupervisionandregulationofthecarbonmarket,maintainabalancebetweensupplyanddemandinthemarket,andpreventexcessivespeculationandpricemanipulationinthemarket.三是要加强与国际碳市场的联系和合作，学习借鉴国际先进经验和技术，提高我国碳市场的运行效率和定价能力。Thirdly,weneedtostrengthenourconnectionandcooperationwiththeinternationalcarbonmarket,learnfromadvancedinternationalexperiencesandtechnologies,andimprovetheoperationalefficiencyandpricingabilityofChina'scarbonmarket.四是要加强碳排放权交易市场的宣传和推广力度，提高公众对碳排放权交易的认识和参与度，推动形成全社会共同参与碳排放权交易的良好氛围。Thefourthistostrengthenthepublicityandpromotionofthecarbonemissiontradingmarket,increasepublicawarenessandparticipationincarbonemissiontrading,andpromotetheformationofagoodatmosphereforthewholesocietytoparticipateincarbonemissiontradingtogether.五是要鼓励企业加大技术创新力度，推动绿色低碳技术的研发和应用，降低碳排放成本，提高碳排放权交易的市场竞争力。Thefifthistoencourageenterprisestoincreasetheirtechnologicalinnovationefforts,promotetheresearchandapplicationofgreenandlow-carbontechnologies,reducecarbonemissioncosts,andimprovethemarketcompetitivenessofcarbonemissiontrading.我国碳排放权交易价格受到多种因素的影响，需要政府、企业和社会各界共同努力，形成合力，推动碳排放权交易市场的健康发展。ThepriceofcarbonemissionstradinginChinaisinfluencedbyvariousfactors,andrequiresthejointeffortsofthegovernment,enterprises,andallsectorsofsocietytopromotethehealthydevelopmentofthecarbonemissionstradingmarket.七、附录Appendix在本研究中，我们采用了结构方程模型（SEM）来分析我国碳排放权交易价格的影响因素。SEM允许我们考虑多个潜在变量和它们之间的关系，这对于理解复杂的经济现象如碳排放权交易价格的决定因素非常有用。模型的设定包括观察变量（可直接测量的变量）和潜在变量（需要通过观察变量间接测量的变量）。我们详细列出了每个变量的定义、来源以及它们在模型中的作用。Inthisstudy,weusedStructuralEquationModeling(SEM)toanalyzetheinfluencingfactorsofcarbonemissiontradingpricesinChina.SEMallowsustoconsidermultiplepotentialvariablesandtheirrelationships,whichisveryusefulforunderstandingcomplexeconomicphenomenasuchasthedeterminingfactorsofcarbonemissiontradingprices.Thesettingofthemodelincludesobservationvariables(directlymeasurablevariables)andlatentvariables(variablesthatneedtobeindirectlymeasuredthrough