基于产权性质分析的碳绩效对财务绩效的影响研究  

The Effects of Carbon Performance on Financial Performance Which Is Based on the Perspective of Ownership Type

作　　者：闫华红[1] 蒋婕 吴启富[2] YAN Hua-hong;JIANG Jie;WU Qi-fu(School of Accounting,Capital University of Economics and Business,Beijing 100070,China;School of Statistics,Capital University of Economics and Business,Beijing 100070,China)

机构地区：[1]首都经济贸易大学会计学院,北京100070 [2]首都经济贸易大学统计学院,北京100070

出　　处：《数理统计与管理》2019年第1期94-104,共11页Journal of Applied Statistics and Management

基　　金：国家社会科学基金一般项目(15BGL059)的阶段性成果

摘　　要：本文以2006年至2016年沪深两市的A股制造业上市公司为样本,通过行业碳排放量估算公司碳绩效,分析碳绩效对财务绩效的影响。研究发现:(1)国内的碳信息披露水平仍然很低,自愿披露企业不多且企业之间碳排放量披露标准不一致;(2)企业提高碳绩效水平有利于增加财务绩效,企业承担减排责任能够优化自身形象、改善与利益相关者的关系;(3)不同产权性质的企业碳绩效对财务绩效的影响存在差异,非国有企业碳绩效的提升更能显著提高财务绩效;(4)碳绩效对财务绩效的影响具有持续增长性,企业积极节能减排能够帮助其实现短期、长期的财务效益;(5)碳绩效与财务绩效会互相影响。Using the data of China manufacturing listed company from 2006 to 2016, this paper studies the impact of carbon performance on financial performance. The research finds out:(1) there are few corporations which are initiative to disclose carbon information. Meanwhile, there are no standards for corporation disclosure.(2) The improvement of carbon performance contributes to the financial performance. That means corporations take the responsibilities can improve their own images and relationships with stakeholders.(3) The impact on companies of different property right characteristic is different and carbon performance has positive correlation on financial performance, especially for non-state-owned enterprises.(4) Sustainability of the impact also has been found. This positive effect will exist a long time if they take efforts to reduce their carbon emission.(5) Carbon performance and financial performance affect each other.

关 键 词：碳绩效 财务绩效 产权性质 持续性 

分 类 号：O212[理学—概率论与数理统计]