企业环境责任、媒体关注对企业价值影响研究

Researching on impact of corporate environmental responsibility and media concern on corporate value

以2012—2017年国内A股汽车制造业上市公司为样本,研究了企业环境责任、媒体关注如何对企业价值产生影响,并将媒体关注作为中介变量构建中介模型,分析企业环境责任、媒体关注以及企业价值三者之间的联系。研究发现,企业环境责任正向影响企业价值,即企业对环境责任的履行越严格,其企业价值越高。进一步研究发现,企业环境责任正向影响媒体关注,媒体关注在企业环境责任与企业价值之间起到了部分中介作用,即履行企业环境责任可以通过增加媒体关注度来提高企业价值。

The 2012—2017 domestic A-share automobile manufacturing listed companies were taken as samples to study the impact of corporate environmental responsibility and media attention on corporate value.And media attention was taken as an intermediary variable to construct an intermediary model to study and analyze the relationship among corporate environmental responsibility,media attention and corporate value.It is found that the corporate environmental responsibility has a positive impact on corporate value,that is,the more strict the performance of corporate environmental responsibility,the higher the corporate value.Further research finds that corporate environmental responsibility has a positive impact on media attention,which plays the part of intermediary role between corporate environmental responsibility and corporate value.That is to say,the performance of corporate environmental responsibility can promote corporate value by increasing media attention.