煤炭企业绿色转型绩效评价及影响因素研究——来自煤炭上市公司数据的证据

Analysis ofgreen transformation performance and influencing factors in coal enterprises:Evidence from data of listed coal companies

随着全球气候变化和环境污染问题日益严峻,绿色发展和可持续发展成为全球关注的焦点。煤炭作为中国主要能源之一,在国民经济发展中占据重要地位,但其开采与利用过程中产生的环境问题亟需解决。研究旨在深入探讨煤炭企业的绿色转型绩效及其影响因素,以期为政府和企业提供有效的政策建议和战略指导。利用2013—2022年中国煤炭上市公司的面板数据,采用DEA模型方法测算了中国煤炭上市公司绿色转型的技术效率、纯技术效率及规模效率,并引入Tobit模型分析了影响企业转型绩效的主要因素。研究结果表明,煤炭上市公司整体绿色转型效率一般,且存在波动性和差异性。企业规模与绿色转型绩效呈正相关,政府补助、资产负债率与绿色转型绩效则呈负相关。研究还发现,规模效率与纯技术效率之间存在差异,表明煤炭企业在技术和管理方面取得一定的进步,但在规模扩张方面正在面临挑战。基于此,提出优化资本结构、政府多元化补助、增强行业合作、强化环境规制和持续监测与评估等建议,以促进煤炭企业绿色转型绩效的提升。

As global climate change and environmental pollution issues become increasingly severe,green development and sustainable growth have become the focus of worldwide attention.Coal,as one of the main sources of energy in China,plays a significant role in the development of the national economy,yet the environmental problems arising from its extraction and utilization are urgent to address.This study aims to delve into the green transformation performance of coal enterprises and its influencing factors,with the expectation of providing effective policy recommendations and strategic guidance for governments and businesses.By utilizing panel data from China's listed coal companies from 2013 to 2022 and employing the Data Envelopment Analysis(DEA)model to measure the technical efficiency,pure technical efficiency,and scale efficiency of green transformation among listed coal companies in China,this paper further analyzes the main factors affecting the performance of enterprise transformation using the Tobit model.The results indicate that the overall green transformation efficiency of listed coal companies is moderate and exhibits volatility and variability.There is a positive correlation between enterprise size and green transformation performance,while government subsidies and debt-to-asset ratio show a negative correlation with green transformation performance.The study also finds a difference between scale efficiency and pure technical efficiency,suggesting that while coal enterprises have made certain progress in technology and management,they are facing challenges in terms of scale expansion.Based on these findings,the paper proposes recommendations for optimizing capital structure,diversifying government subsidies,enhancing industry cooperation,strengthening environmental regulations,and continuous monitoring and evaluation to promote the improvement of green transformation performance in coal enterprises.