政治关联、利益相关者监督与企业环境信息披露  

Political Connection,Stakeholder Supervision and Enterprises' Environmental Information Disclosure

作　　者：姚圣[1] 梁昊天[1] 

机构地区：[1]中国矿业大学管理学院,江苏徐州221116

出　　处：《中国矿业大学学报（社会科学版）》2016年第2期57-66,共10页Journal of China University of Mining & Technology(Social Sciences)

基　　金：国家自然科学基金面上项目"空间距离;同业模仿与环境信息披露机会主义行为:动因;实现路径与经济后果"(项目编号:71572189);国家自然科学基金青年项目"政治关联;地方利益与环境业绩--基于生存权保障的研究视角"(项目编号:71102163);中国博士后特别资助基金项目"政治关联弹簧效应与地方环境业绩恶化"(项目编号:2012T50529);中国博士后科学基金面上资助项目"政治关联;地方利益与环境业绩--基于政治均衡的研究视角"(项目编号:2011M500977)

摘　　要：已有研究认为,政治关联对于企业信息披露具有一定的负向影响,而利益相关者监督对此则具有正向促进作用。在企业环境信息披露方面,两者究竟起到怎样的作用有待于进一步的研究。本文选取我国民营重污染企业为样本,探索了政治关联与股东、银行监督对环境信息披露的影响机制。研究结果表明,政治关联和股东监督均能促进环境信息披露,但两者共同作用时,政治关联具有抵消股东监督的作用,而银行监督并无显著效果。文章进一步研究发现,政治关联能够有效提高环境信息披露质量,股东监督对环境信息显著性披露影响较为有效,而银行监督则无显著作用。因此,应进一步推进市场化改革,规范政治关联行为,并加强外部监督力量,从而提升企业环境信息披露总量与质量水平。According to existing literatures,disclosure of enterprises' environmental information is negatively affected by political connection, but positively promoted by the supervision from stakeholders.Nevertheless,the roles played by these two factors during the process of information disclosure still demands in-depth study.Choosing heavy-polluted private enterprise as research object,this paper explores the influence mechanisms of political connection and supervision from shareholders and bank. Research results indicate that compared with the insignificant performance of bank supervision,both political connection and shareholder supervision can facilitate the disclosure,moreover,political connection would offset the role of shareholder supervision if the two factors take effects simultaneously.Further study demonstrates that political connection can effectively improve the quality of environmental information disclosure,while shareholder supervision exerts greater influence on the significance disclosure.It is concluded that to raise the quantity and quality of enterprises' environmental information disclosure,we should speed up the market reform,regulate the political connection behavior and strengthen the external supervision.

关 键 词：政治关联 利益相关者 环境信息披露 银行监督 

分 类 号：F275[经济管理—企业管理]