盈余业绩与公司环境保护信息披露关系的实证分析  

An Empirical Research on the Relationship Between Corporate Profitability and Level of Corporate Environmental Protection Information Disclosure

作　　者：朱金凤[1] 乔引华[1] 

机构地区：[1]西安外国语大学商学院

出　　处：《中国人口·资源与环境》2008年第4期206-210,共5页China Population,Resources and Environment

基　　金：西安市科技计划项目(编号:YF07204-03);陕西省社会科学重大理论和现实问题研究项目(编号:07Z058);西安外国语大学2007年度校级科研项目

摘　　要：对外披露环境信息,揭示环境资源的利用情况,是现代企业可持续发展的必然选择。本文以248家沪市A股制造业上市公司为样本,以净资产收益率为盈余业绩的衡量指标,采用指数法,实证检验了盈余业绩和公司环境保护性息披露水平的关系。研究结论表明:我国上市公司环境保护信息披露的整体水平较低,行业之间存在差异,披露的信息难以满足信息使用者的需求;无论从行业总体,还是分行业来看,盈余业绩与环境保护信息披露水平不具有相关性,高盈利公司并不会披露更多的环境保护信息,"信号"理论对环境保护信息披露的解释力较弱。政策启示是:尽快推出《上市公司环境信息披露指引》;加强对"环境敏感型"行业上市公司的监管;制定可操作性的环境审计准则。It is the inevitable choice for the public corporations＇ sustainable development to disclose environmental information and reveal the use of environmental resources. Taking 248 A-share manufacturing listed companies in 2006 Shanghai Stock Exchange as research example, using ROE to measure the profitability of the company, applying ＇index method＇, this paper examines the relationship between the profitability and level of corporate environmental information disclosure（CED）. The findings show that the overall environmental disclosure level is low, unable to satisfy information users. There is no correlation between corporate profitability and level of CED, and the companies with high profitability don＇t choose to disclose more environmental information, which notes that ＇Signal Display＇ can＇t explain the environmental disclosure very well in China capital market.

关 键 词：盈余业绩 环境保护信息披露 净资产收益率 指数法 信号理论 

分 类 号：F121.26[经济管理—世界经济]