制度约束、激励政策与企业环境信息披露

System Restraint,Stimulation Policy and Enterprises'Environmental Information Disclosure

本文利用博弈矩阵模型,从理论上证明了制度约束政策和鼓励激励政策对提高企业环境信息披露水平和质量具有重要影响。在实证部分,以环保部门2010年和2015年颁布实施的政策为准自然实验场所,对制度约束政策和鼓励激励政策的效力展开研究。研究结果显示:制度约束政策与鼓励激励政策能够分别从强制性约束和自愿性激励的角度刺激企业积极披露环境信息,行政(市场准入)处罚和物质补助是刺激企业提高环境信息披露水平和质量的有效方法。

The game matrix model theoretically proves that the policy of institutional constraint and the incentive policy have important effects on improving the level and quality of enterprises'environmental information disclosure.In the empirical section,based on the policies promulgated and implemented by the Environmental Protection Bureau in 2010 and 2015 the DID combining with the PSM is adopted to study the effectiveness of institutional constraints and incentives policies.The results show that:institutional constraint policy and incentive policy can significantly stimulate enterprises to disclose environmental information actively from the perspective of mandatory constraint and voluntary incentive,while administrative(market access)penalties and material subsidies are effective ways to stimulate enterprises to improve the quality and level of environmental information disclosure.