碳排放量、碳信息披露质量与企业价值  

On Carbon Emission,the Quality of Carbon Information Disclosure and the Firm Value

作　　者：张巧良[1] 宋文博[1] 谭婧[1] 

机构地区：[1]兰州理工大学经济管理学院,甘肃兰州730050

出　　处：《南京审计学院学报》2013年第2期56-63,共8页journal of nanjing audit university

基　　金：甘肃省科技厅项目(1006ZCRA150);兰州理工大学优秀青年教师培养计划项目(Q200708);甘肃省教育厅研究生导师基金项目(1011ZTC092)

摘　　要：在碳约束环境下,企业的碳排放强度决定了企业所面临监管风险的大小,碳信息披露是企业与利益相关者沟通的重要桥梁。对2010年入选S&P500的85家企业碳排放量及碳信息披露质量的价值相关性进行实证研究后发现:企业的碳排放总量与企业价值显著负相关;碳信息披露质量与企业价值正相关,但不显著;监管环境对企业碳信息披露质量、碳排放量与企业价值的相关性影响较大,高排放企业的碳排放量与企业价值显著负相关,碳信息披露质量与企业价值负相关;低排放企业的碳信息披露质量、碳排放量与企业价值正相关。In the carbon-constrained environment,the carbon emission intensity of an enterprise determines its level of regulatory risk,and the carbon information disclosure plays an important role for it to communicate with stakeholders.A research on the relevance of carbon emission,quality of carbon information disclosure and firm value from 85 enterprises from US S&P 500 firms in 2010 shows that: the carbon emissions of enterprise and its value is significantly negatively correlated;the quality of carbon information disclosure and firm value has correlation,but not significant;the regulatory environment seriously affects the value relevance between corporate carbon emissions and the quality of carbon information disclosure.Carbon emission and firm value in high carbon emission enterprise are significantly negatively correlated,while the correlation in low carbon emission enterprise is positive.The quality of carbon information disclosure is negatively correlated with firm value in high carbon emission enterprise.

关 键 词：企业价值 碳信息披露质量 碳排放量 监管环境 碳减排 社会责任会计 环境会计 

分 类 号：F205[经济管理—国民经济]