煤炭上市公司环境信息披露质量及影响因素研究

发布时间：2018-07-13 11:19

【摘要】：煤炭行业是我国经济发展、社会稳定的支柱行业，煤炭上市公司作为煤炭行业的指引者，其环境信息披露质量的高低不仅会对公司自身的发展有影响，还会影响整个煤炭行业、甚至整个社会的发展。本文首先对国际、国内学者对环境信息披露的研究进行了回顾，发现目前对环境信息披露的研究只停留在披露现状以及影响因素方面，而对环境信息披露质量如何衡量，怎样衡量少有研究。因此，本文对煤炭上市公司环境信息披露质量及其影响因素进行研究。本文在借鉴学者们对环境信息披露研究的基础上，根据我国相关部门发布的有关环境信息披露法律法规，结合我国煤炭行业的特殊性，构建出衡量煤炭上市公司环境信息披露质量的指标体系，采用内容分析法，从信息披露的充分性、显著性、可靠性三个维度将环境信息披露质量量化，进而进行横向、纵向的比较研究。通过对37家煤炭上市公司2008年至2012年期间185个样本的环境信息披露质量进行量化比较分析，发现目前我国煤炭上市公司在环境信息披露方面存在的问题，例如披露质量较低、偏向于披露利好信息等。基于这些问题从公司特征、治理结构、再融资需求等方面提出影响煤炭上市公司环境信息披露质量的9个因素，建立回归模型，通过实证检验，发现煤炭上市公司环境信息披露质量与企业规模、盈利能力、股权集中度、监事会规模、环保机构设置正相关，其中与企业规模、环保机构设置的相关性较大；而环境信息披露质量与财务杠杆、运营能力、独立董事比例、再融资需求呈负相关关系。根据量化比较分析以及实证回归的结果，结合目前煤炭行业发展的“瓶颈”时期，从企业外部监管的角度和企业内部治理的角度提出提高我国煤炭上市公司环境信息披露质量的5点建议，，努力建立煤炭行业的环境信息披露体系。
[Abstract]:The coal industry is the pillar industry of our country's economic development and social stability. As the guide of the coal industry, the quality of the environmental information disclosure of the coal listed company will not only affect the development of the company itself, but also the whole coal industry. Even the development of the whole society. First of all, this paper reviews the research on environmental information disclosure by international and domestic scholars, and finds that the current research on environmental information disclosure is only focused on the current situation of environmental information disclosure and its influencing factors, and how to measure the quality of environmental information disclosure. There is little research on how to measure it. Therefore, this paper studies the quality of environmental information disclosure of coal listed companies and its influencing factors. Based on the scholars' research on environmental information disclosure, according to the relevant environmental information disclosure laws and regulations issued by relevant departments in China, this paper combines the particularity of China's coal industry. This paper constructs an index system to measure the quality of environmental information disclosure of coal listed companies, and uses content analysis method to quantify the quality of environmental information disclosure from the three dimensions of adequacy, significance and reliability of information disclosure, and then carry out horizontal analysis. Longitudinal comparative study. Through the quantitative comparative analysis of the environmental information disclosure quality of 185 samples of 37 coal listed companies from 2008 to 2012, it is found that there are some problems in the environmental information disclosure of coal listed companies in China, such as low disclosure quality. Bias in the disclosure of good information, etc. Based on these problems, nine factors affecting the quality of environmental information disclosure of coal listed companies are put forward from the aspects of corporate characteristics, governance structure, refinancing demand, and the regression model is established. It is found that the quality of environmental information disclosure of coal listed companies is positively related to the scale of enterprises, profitability, concentration of equity, board of supervisors and setting of environmental protection institutions, among which there is a greater correlation with the scale of enterprises and the setting of environmental protection institutions. However, the quality of environmental information disclosure is negatively related to financial leverage, operational ability, proportion of independent directors and refinancing demand. According to the results of quantitative comparative analysis and empirical regression, combined with the current "bottleneck" period of coal industry development, This paper puts forward five suggestions to improve the quality of environmental information disclosure of coal listed companies in China from the angle of external supervision and internal governance of enterprises, and tries to establish the environmental information disclosure system of coal industry.
【学位授予单位】：西安石油大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：X322;F426.21;F224

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