重污染行业上市公司环境绩效与财务绩效互动关系实证研究被引量：26

An Empirical Study on the Win-Win Relationship between Environmental Performance and Financial Performance of Listed Companies of Heavy Pollution Industry

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摘要基于可持续发展理论、生态经济理论和波特假设,以我国重污染行业上市公司为研究对象,对其环境绩效与财务绩效互动关系进行实证检验。研究结果表明,重污染行业上市公司环境绩效与财务绩效之间存在双向正向影响,即财务绩效对环境绩效具有正向作用,环境绩效的提升也会对财务绩效带来改进效应,环境绩效对滞后一期和两期的财务绩效产生正向激励效应,但不显著。现阶段,我国重污染行业上市公司环境绩效与财务绩效关系尚未呈现显著或绝对良性互动,需要从市场机制和环境规制两个视角整合促进两者互动的机制体系。 This paper aims to examine the existence of win-win relationship between environmental performance and financial performance of listed companies of heavy pollution industry, based on theory of corporation sustainable development, ecological economics, and Porter Hypothesis. The study results suggested that there is a positive influence of financial performance on environmental performance, and that environmental performance have positive correlation effect on current period, first-lagged and second-lagged financial performance, and under panel data analysis. However, there was not a remarkable win-win relationship between environmental performance and financial performance for listed companies of heavy pollution industry in China.

作者张长江温作民徐晴

机构地区南京工业大学经济与管理学院南京林业大学生态经济研究中心

出处《生态经济》 CSSCI 北大核心 2016年第11期20-26,共7页 Ecological Economy

基金国家自然科学基金面上项目"重污染行业企业环境绩效与财务绩效互动机理与政策研究"(71273129)

关键词重污染行业上市公司环境绩效财务绩效互动 listed companies of heavy pollution industry environmental performance financial performance win-win

分类号 F270.3 [经济管理—企业管理]

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