摘要
基于2012-2018年我国24家煤炭行业上市公司平衡面板数据,构建了面板门槛模型,研究安全生产投入与企业价值的关系。结果表明:安全生产投入与企业价值存在显著的单一门槛效应;当专项储备的自然对数值低于该门槛值时,安全生产投入对企业价值表现为显著的正向促进作用;当专项储备的自然对数值超过该门槛值时,安全生产投入对企业价值的正向促进作用会有所下降。
Based on the balanced panel data of 24 listed companies in the coal industry in China from 2012 to 2018,a panel threshold model was constructed to study the relationship between safety production investment and enterprise value.The results showed that there was a significant single threshold effect between safety production investment and enterprise value.When the natural logarithm value of the special reserve was lower than the threshold value,the safety production investment showed a significant positive effect on the enterprise value;when the natural logarithm value of the special reserve exceeded the threshold value,the positive promoting effect on enterprise value would decline.
作者
曹富
刘婧
Cao Fu;Liu Jing(College of Economics and Management, Taiyuan University of Technology, Jinzhong, Shanxi 030600, China)
出处
《中国煤炭》
2020年第8期39-43,共5页
China Coal
关键词
煤炭企业
安全生产投入
企业价值
面板门槛模型
coal enterprise
safety production investment
enterprise value
panel threshold model
