环境信息披露对财务绩效的影响——基于长江经济带重污染企业上市公司数据

Influence on Financial Performance from Environmental Information Disclosure--based on the data of listed companies of heavy polluting enterprises in Yangtze River Economic Belt

环境信息披露是环境核算体系中至关重要的部分,也与企业财务绩效有着紧密的联系。本文基于利益相关者理论和信息不对称理论,选取我国长江经济带重污染行业75家上市公司2009-2018年的面板数据,通过对样本公司的环境信息披露各条目分析来进行量化评分,实证分析环境信息披露水平对财务绩效的影响。研究结果表明:环境信息披露水平会对财务绩效产生滞后性的正面影响,企业提高环境会计信息披露水平有利于企业长远发展。文章结合实证结果提出了相关建议。

Environmental information disclosure is a crucial part ofthe environmental accountingsystem,and alsoclosely related to the financial performance of enterprises.Based on the stakeholder theory and information asymmetry theory,this paper selects the panel data of 75 listed companies in the heavy pollution industry of the Yangtze River economic belt from2009 to 2018,and makes a quantitative score by analyzing the items of environmental information disclosure of the sample companies,so as to empirically analyze the impact of environmental information disclosure level on financial performance.The results show that//the level of environmental information disclosure has a positive impact on financial performance,and improving the level of environmental accounting information disclosure is conducive to the long-term development of enterprises.Finally,some suggestions are put forward based on the empirical results.