环境信息披露与企业价值相关性研究

Research on Correlation between Environmental Information Disclosure and Enterprise Value

基于对不同类型环境信息披露与企业价值的相关性分析,选取沪市A股重污染行业中118家上市公司作为样本对象,构建多元回归模型进行实证研究,得出结论:(1)从不同维度的环境信息披露水平综合来看,我国重污染行业上市公司环境信息披露水平不高。(2)环境管理信息披露水平、环境业绩信息披露水平均与企业价值呈显著正相关,环境负债信息披露水平对企业价值呈显著负相关,而环境支出信息披露水平对企业价值未有显著作用。

Based on. the correlation, analysis of different types of environmental information, disclosure and enterprise value, 118 listed companies in. A-share heavy polluting industry of Shanghai stock market are chosen, as sample objects, and a multi-regression, model is constructed to do empirical research.,then, this paper draws the conclusion.： （l）From different dimensions of the level of disclosure of environmental information, comprehen-sive, China＇s heavily polluting industries listed on. the level of environmental information, disclosure is not high. （2） Both the disclosure level of envi-ronmental management information., the information, disclosure level of environmental performance information, have significant positive correlation, with enterprise value, and the disclosure level of environmental debt information, has negative correlation, with enterprise value, while the level of environmental expenditure information, disclosure has n.o significant effect on. enterprise value.