企业环境违规与企业价值研究——以我国化工行业A股上市公司为例

发布时间：2018-02-16 04:06

本文关键词： 环境表现经济表现企业环境违规企业价值　出处：《南通大学学报(社会科学版)》2017年04期 　论文类型：期刊论文

【摘要】：以往对企业环境表现与经济表现关系的研究,因研究方法差异未产生一致的结论。研究以2009—2015年在沪深两市上市交易的化学原料和化学制品制造业A股企业为样本,分析企业市场价值对企业环境违规的反应,以及这种反应的调节因素。结果表明:企业环境违规与企业价值呈负相关;环境违规信息的公开质量具有调节企业环境违规与企业价值之间相关性的作用,经信息公开质量修正的企业环境违规与企业价值之间的负相关性更为显著;2012—2015年间企业环境违规数量的增加(降低)是企业价值降低(提高)的格兰杰原因。
[Abstract]:Previous studies on the relationship between corporate environmental performance and economic performance have not reached a consistent conclusion because of differences in research methods. The study was based on A-share companies in the chemical raw materials and chemical products manufacturing industries listed on the Shanghai and Shenzhen stock exchanges from 2009 to 2015. This paper analyzes the reaction of enterprise market value to enterprise environmental violation and the adjustment factors of this reaction. The results show that the enterprise environmental violation is negatively related to enterprise value; The open quality of environmental violation information has the function of regulating the correlation between enterprise environmental violation and enterprise value. The negative correlation between enterprise environmental violation and enterprise value is more significant. The increase (decrease) of enterprise environmental violation in 2012-2015 is the Granger reason for the decrease (improvement) of enterprise value.
【作者单位】：东华大学旭日工商管理学院;
【分类号】：F426.7;F832.51;X322

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