风险、机会与碳管理应对偏差——基于CDP的实证检验  

Risks,Opportunities,and Discrepancy of Carbon Response: Empirical Evidence from CDP

作　　者：贺建刚[1] 孙铮[2] 唐清亮[3] 

机构地区：[1]南京财经大学会计学院,江苏南京210023 [2]上海财经大学会计与财务研究院,上海200433 [3]西悉尼大学会计系

出　　处：《经济管理》2013年第10期181-191,共11页Business and Management Journal ( BMJ )

基　　金：江苏省社科基金"江苏碳风险;机会与社会责任推进研究"(12GLB003)

摘　　要：在自然资源禀赋约束和当前碳不确定性环境下,碳管理正在成为企业社会责任推进和提升竞争性优势的重要战略举措。本文以国际碳披露项目(CDP)披露的S&P 500碳密集行业上市公司为样本,实证检验了碳风险和碳机会识别及其在不同规模企业中的应对认知偏差,发现企业的碳意识逐步提升,碳披露中的风险、机会显著影响碳管理应对。特别地,大企业更关注碳风险规避,而小企业则更专注于碳机会利用。同时,董事会中设立专门的环境委员会、对高管团队实施碳激励和设定减排目标等责任机制,同样对促进企业碳应对具有显著正向作用。本文研究结论对于我国建设低碳经济、推进企业社会责任履行以及碳监管政策制定具有借鉴意义。In recent years,the discussion of corporate social responsibilities triggered by social donation, envi- ronment pollution, haze, and food security etc., are concerned in emerging market, but remained questions rank a- bove verdict. Existing literatures suggest that the effects of social responsibility fulfillment fall short of expectation under reversed transmission of the pressure simply response to regulation. Environment protection and carbon reduc- tion is the important component of corporate social responsibilities. In post-Copenhagen era, ＂low carbon＂ is the current catchword or global hot words. Occurrence of greenhouse effect triggered by carbon dioxide emission raise the attention of investor, consumer, government, media, etc. Meanwhile, majority governments in the world take active actions of binding commitment to carbon reduction and carbon regulation setting within framework of UNFCCC. However, carbon reduction doesn＇ t reach aim in one move but need take time and efforts including both government reinforcing the policies for carbon regulation and corporate initiative response. In current uncertainty en- vironment imposed by natural resource endowment constraints and increasing carbon regulations, enterprises are con- fronted with more and more carbon uncertainty in post-Copenhagen era. Carbon response to underlying risks and op- portunities is becoming important strategic step for firms to promote social responsibility implementation and to im- prove competitive advantages. This paper is motivated by a growing body of research that examines the environment/carbon information dis- closure and its impact on performance in largely carbon intensive firms. Carbon accounting literatures theoretically and empirically study the carbon disclosure in the perspective of legitimacy theory, economic theory and risk theory, and find that firm size is an important factor influencing carbon information disclosure, but do not identify the infor- mation usefulness of carbon risks or opportunities in non-financi

关 键 词：低碳经济 风险 机会 碳应对 社会责任 治理机制 

分 类 号：F276.6[经济管理—企业管理]