环境投资与经济绩效关系研究——基于科技型企业的经验证据

Study on the Relationship between Environmental Investment and Economic Performance——Empirical Evidence Based on the Science and Technology Enterprise

本文以科技型上市公司2009~2014年发布的社会责任报告为研究样本,对环境投资与经济绩效之间的关系进行实证研究。从社会责任的视角入手,对科技型上市公司社会责任报告的发布状况和环境投资的披露状况进行分析,将环境投资与经济绩效指标分类进行细化研究,结果表明科技型企业环境投资与宏观经济指标不存在线性关系,对公司营运能力也不存在显著影响,废弃物污染治理投资、环保专项基金、环境税费与公司偿债能力、发展能力、盈利能力之间呈显著正相关,环保设施及系统投资与公司盈利能力之间呈显著负相关,清洁项目投资和生态建设及绿化投资对经济绩效的影响不显著。因此,科技型企业积极开展废弃物污染治理、成立充实环保专项基金、据实承担环境税费,能带来经济利益与环境利益的双赢。

Social responsibility reports are taken as the research sample from 2009 to 2014 in the listed companies of science and technology, to find the relationship between environmental investment and economic performance. From the perspective of social responsi- bility, the release situation and the disclosure of environmental investment are analyzed, and the indicators of environmental investment and economic performance are under detailed research. Results show that there is no linear relationship between environmental investment and e indicators, and also no significant effect on the operating ability. The waste pollution control investment, environmental special fund and environmental tax have significant positive correlation on debt paying ability, developing ability and profitability, but the environmental investment of facilities and system has significant negative correlation on corporate profitability. The cleaning project invest- ment, ecological construction and greening investment have no significant affect on economic performance. So controlling waste pollution, setting up environmental special fund and undertaking environmental tax and fees can realize economic and environmental benefits.