环境信息披露会促进企业出口吗

Does the Environmental Index Disclosure Promote the Export of Enterprises?

随着全球进入低碳经济时代,环境信息披露为我国绿色发展提供了重要参考,企业环境信息披露不仅有利于政府更好地了解企业环保工作,也有利于提升企业声誉,促进企业发展,为探究环境信息披露是否会影响企业出口,本文采用Heckman模型考察了上市公司的环境信息披露对企业出口的影响。研究发现,环境信息披露能够促进企业出口决策和出口规模,其对重污染行业、国企、外企以及大型企业出口的边际影响更大。非线性检验显示环境信息披露和硬性指标与企业出口规模呈现U型关系,而软性指标与出口规模存在倒U关系。这就表明我国的软性和硬性环境信息披露处于曲线左端,披露水平较低。影响路径检验显示,环境信息披露通过增加企业成本抑制出口,通过增加政府补助、融资能力和创新能力促进出口,而环境信息披露通过作用于市场份额对出口的影响并不明显。本文的研究对企业调整环境信息披露政策和出口策略具有重要参考价值。

With the global entering into the era of low-carbon economy,environmental index disclosure provides an important reference for China’s green development.Enterprise environmental index disclosure is not only conducive to the government to better understand the environmental protection work of enterprises,but also conducive to enhance the reputation and social trust of enterprises to promote their development.This paper used the Heckman model to examine the impact of environmental index disclosure on the export of listed companies.It is found that environmental index disclosure promotes the export decision-making and export scale of enterprises.Its impact on the exports of heavily polluting industries,state-owned enterprises,foreign-owned enterprises and large enterprises is greater.Environmental index disclosure and hard indicators have a U-shaped relation with the export scale,while soft indicators have an inverted U-shaped relation with the export scale.This shows that China’s soft and hard environmental index disclosure is at the left end of the curve,and the level of disclosure is relatively low.The impact path results reveal that the environmental index disclosure inhibits exports by increasing costs of enterprises and promotes exports by increasing government subsidies,financing capacity and innovation capacity,while environmental index disclosure has no obvious impact on exports by affecting market share.The research has important references for enterprises to adjust environmental index disclosure policy and export strategy.