煤炭行业上市公司节能减排信息披露分析

Information disclosure of energy saving and emission reduction in listed companies of coal industry

本文以煤炭行业上市公司为研究对象，分析节能减排信息的披露方式、构建节能减排信息披露指数、衡量节能减排信息的披露水平，并对影响节能减排披露水平的因素进行了实证研究。结果表明，煤炭行业上市公司主要在董事会报告、财务报表附注、独立社会责任报告中披露节能减排信息；煤炭行业上市公司节能减排信息披露水平有所提高，但行业总体披露水平不高且公司之间差异较大；公司规模、负债水平和披露方式是影响节能减排信息披露水平的重要因素。

This paper talks about the disclosure style of energy saving and emission reduction informa- tion in coal industry firstly. Then energy saving and emission reduction index is built to measure the level of information disclosure. Finally, the factors which affect the level of information disclosure are analyzed through an empirical study. The results show that the companies listed in coal industry disclose energy sav- ing and emission reduction information through reports of directors, financial statement notes and social re- sponsibility report. The overall information disclosure level in coal industry is generally low and great differ- ences exist among companies. Company size, debt level and disclosure style are important factors which affect the level of energy saving and emission reduction information disclosure.