公司绿色治理:公众与媒体的力量

Corporate Green Governance:The Power of Public and Media

现阶段中国绿色治理的任务依然艰巨,如何提升公司绿色治理水平已成为实现人与自然和谐共生的人民之问、时代之问。以A股重污染行业上市公司为样本,本文考察了公众和媒体对公司绿色治理的影响。研究发现:2015-2019年重污染行业样本公司绿色治理水平呈上升趋势,但整体水平偏低。公众诉求有利于提升公司绿色治理水平;与环保信访相比,人大和政协环保提案对公司绿色治理的提升效应更高。媒体环境报道对公司绿色治理具有显著的促进作用;相较于公众诉求,媒体报道发挥更大的绿色治理效应;与媒体正面报道相比,负面报道对公司绿色治理的促进作用更大。公众与媒体对公司绿色治理具有显著的协同效应,而两者的绿色治理力量因政府环境规制、产权性质和公司规模的不同而具有异质性。本研究既弥补了公司绿色治理研究的不足,也丰富了公众与媒体等非正式环境规制的绿色治理力量研究。

This paper investigates the impact of public and media on corporate green governance based on the research sample of Chinese A-share heavily polluted industry listed corporations.The results show that the level of green governance of heavy pollution industry sample corporations showed an upward trend during 2015-2019.Both public appeals and media environmental reports are conducive to improving the level of corporate green governance.In contrast,media reports have a greater green governance effect than public appeals.And compared with positive media reports,negative reports have a greater promoting effect on corporate green governance.Public appeals and media reports have a significant synergistic effect on corporate green governance,while the green governance power of both is heterogeneous due to the difference of government environmental regulation,ownership and company size.The conclusions not only make up for the lack of research on corporate green governance,but also enrich the research on the governance power of informal environmental regulation such as the public and media.