冶金上市公司安全信息披露及其与企业价值相关性研究

发布时间：2018-01-06 13:25

本文关键词：冶金上市公司安全信息披露及其与企业价值相关性研究　出处：《西南科技大学》2017年硕士论文　论文类型：学位论文

【摘要】：随着当今时代经济的迅速发展,社会责任信息披露作为社会对企业监督的窗口,越来越受到专家学者的重视。安全信息是社会责任信息的重要组成部分,而如今,企业披露的社会责任信息中,最多的还是在于环境信息的披露,对其中安全信息的披露则较少。对于高危行业而言,随着人们安全意识的提高,社会大众及企业利益相关者对企业安全信息的披露有着强烈的需求,因此高危行业安全信息披露成为了社会责任信息披露研究的重要环节。面对产能过剩和安全生产双重压力的冶金企业更是如此。作者通过大量阅读国内外关于社会责任信息披露和安全信息披露的文献,对社会责任信息披露和安全信息披露的内涵、形式和内容、动因及效应进行了全面的梳理和总结,发现国内外对于企业社会责任信息披露的研究多是集中于对其披露动因的研究,对其披露效应的研究尚少,而对于企业安全信息披露效应的研究更是少之又少。本文选取面临产能淘汰危机的高危行业——冶金行业上市公司为研究对象进行实证研究。本文剔除不符合条件的企业,最终得到冶金行业共6 6家上市公司2 0 11年-2 0 1 5年的面板数据,对我国冶金行业上市公司安全信息披露的现状及其与企业价值的相关性进行全面的分析。本文通过内容分析法将安全信息分为了7大类20个小类,对其披露情况进行打分,得出安全信息披露水平,并通过多元线性回归分析得出正面安全信息披露与企业价值正向相关,负面安全信息与企业价值负向相关的结论。此外本文经过实证研究还证实了安全信息披露对企业价值的影响路径,即安全信息披露可通过影响企业资本成本和预期现金流量,从而影响企业价值。本文最后针对研究结论提出对策措施,以提高我国企业安全生产意识和安全信息披露水平,改善冶金行业转型困境。
[Abstract]:With the rapid development of modern economy, the disclosure of social responsibility information, as a window of social supervision to enterprises, has been paid more and more attention by experts and scholars. Security information is an important part of social responsibility information. Nowadays, the most of the social responsibility information disclosed by enterprises is the disclosure of environmental information, but the disclosure of security information is less. For high-risk industries, with the improvement of people's safety awareness. There is a strong demand for the disclosure of corporate security information by the public and stakeholders. Therefore, safety information disclosure in high-risk industries has become an important link in the research of social responsibility information disclosure. This is especially true for metallurgical enterprises facing the pressure of overcapacity and safety in production. The author has read a lot about the society at home and abroad. Documents that will disclose liability information and security information. The connotation, form and content, motivation and effect of social responsibility information disclosure and safety information disclosure are summarized. It is found that most of the research on CSR information disclosure at home and abroad is focused on the motivation of its disclosure, but the research on its disclosure effect is still few. However, the research on the effect of enterprise safety information disclosure is rare. This paper selects listed companies in metallurgical industry, a high-risk industry facing the crisis of capacity elimination, as the object of empirical study. Part of the business. Finally, the panel data of 66 listed companies in metallurgical industry were obtained. The present situation of safety information disclosure of listed companies in metallurgical industry in China and its correlation with enterprise value are comprehensively analyzed. This paper divides safety information into 7 categories and 20 subcategories by content analysis. The disclosure of security information is rated and the level of security information disclosure is obtained, and positive safety information disclosure is positively correlated with enterprise value through multiple linear regression analysis. The negative security information and the negative value of the conclusion. In addition, this paper also confirmed the impact of security information disclosure on corporate value through empirical research. That is, the disclosure of security information can affect the value of the enterprise by influencing the cost of capital and expected cash flow. Finally, this paper puts forward some countermeasures to the conclusion of the study. In order to improve the awareness of production safety and safety information disclosure level of enterprises in China, improve the transformation of metallurgical industry difficulties.
【学位授予单位】：西南科技大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.3;F406.7;F832.51

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