碳绩效对财务绩效的影响——基于新三维框架下调节因素的探讨

Effect of Carbon Performance on Financial Performance under a New Three-dimensional Model

以CDP报告中世界500强企业作为样本,考察碳绩效对财务绩效的影响,并建立新三维概念框架,将碳信息披露、利益相关者权力、高诉讼风险及碳密集程度作为调节变量,对碳绩效与财务绩效的关系进一步研究.结果表明:碳绩效正向影响财务绩效,碳信息披露调节作用不成立;利益相关者权力和碳密集程度负向调节;高诉讼风险正向调节.由此说明,企业能通过低碳减排实现社会与经济效益,当诉讼风险低、战略态势积极时,企业碳行为能更好地提升业绩.

Taking the Fortune 500 companies in the CDP report as samples,this paper investigates the impact of carbon performance on financial performance,and introduces a new three-dimensional conceptual framework that takes carbon information disclosure,stakeholder power,high litigation risk and carbon intensity as moderating variables.The results show that carbon performance has a positive impact on financial performance,and carbon information disclosure has no moderating role.Stakeholder power and carbon intensity have a negative moderating role,while high litigation risk has a positive moderating role.The results indicate that through low-carbon emission reductions,enterprises can achieve social and economic benefits.When the litigation risks are low and strategic trends are active,corporate carbon behavior can better improve performance.