环境信息披露质量与财务绩效互动效应研究

Research on the Interactive Effect of Environmental Information Disclosure Quality and Financial Performance

在坚持绿色发展,构建低碳产业体系的大背景下,对2015-2019年484家重污染行业上市企业进行实证分析,通过构建环境信息披露质量体系和财务绩效体系,用格兰杰因果检验法、耦合模型、耦合协调模型、脱钩模型来研究环境信息披露质量与财务绩效的因果关系、匹配程度以及脱钩程度。研究表明:财务绩效是企业进行环境信息披露的格兰杰原因,我国的重污染行业上市公司的环境信息披露质量体系和财务绩效体系总体而言处于较低水平的良性耦合阶段、两个系统处于弱脱钩状态。从加强我国企业环境信息披露质量与财务绩效的高水平匹配程度、提高企业环境信息的披露质量等方面提出相应建议,以加快构建我国低碳绿色体系。

Under the background of adhering to green development and building a low-carbon industrial system,the 484 listed enterprises in the heavy pollution industry from 2015 to 2019 were empirically analyzed,and the causal relationship,matching degree and decoupling degree of environmental information disclosure quality and financial performance were studied by using the Granger causal test method,coupling model,coupling coordination model and decoupling model to study the causal relationship,matching degree and decoupling degree between environmental information disclosure quality and financial performance by constructing the environmental information disclosure quality system and financial performance system.The results show that financial performance is the reason for enterprises to disclose environmental information,and the environmental information disclosure quality system and financial performance system of listed companies in China's heavily polluted industries are generally in a low level of benign coupling stage,and the two systems are in a weak decoupling state.