环境会计信息披露、会计稳健性对融资约束的影响

Influence of Environmental Accounting Information Disclosure and Accounting Conservatism on Financing Constraints

“零碳中国”倡议背景下,我国政府积极推动企业进行绿色转型与高质量发展,而其中,融资约束是影响企业绿色转型的重要因素。基于此,利用我国2012—2019年A股上市公司数据,基于异质性视角研究环境会计信息披露、会计稳健性及二者交互效应对融资约束的影响,结果发现:环境会计信息披露有助于缓解企业融资约束;会计稳健性对融资约束具有缓释效应;环境会计信息披露与会计稳健性在企业融资约束缓释效应中存在替代效应。该研究意在为企业履行社会责任和融资约束提供新思路。

Under the background of“Zero-carbon China”Initiative,the government actively promotes the green transformation of enterprises and achieves high-quality development.The financing constraint is an important factor that affects the green transformation of enterprises.Based on this,this paper uses the data of China’s A-share listed companies from 2012 to 2019 to study the impact of environmental accounting information disclosure,accounting conservatism and their interaction on financing constraints from the perspective of heterogeneity.The findings are as follows:the disclosure of environmental accounting information is helpful to alleviate the financing constraints of enterprises;accounting conservatism has a slow release effect on financing constraints;environmental accounting information disclosure and accounting conservatism have a substitution effect in the slow release effect of corporate financing constraints.The study aims to provide new ideas for enterprises to fulfill their social responsibilities and financing constraints.