监管制度、行业属性与企业环境投资——基于行业差异的影响因素识别与解析  

Industry Supervising System,Industry Attribute and Environmental Investment of Enterprises——Identification and Analysis of Factors Based on the Industry Difference

作　　者：张悦[1] 

机构地区：[1]河南工程学院,郑州451191

出　　处：《工业技术经济》2017年第5期92-101,共10页Journal of Industrial Technological Economics

基　　金：2017年度河南省科技厅软科学项目"低碳经济下环境会计的应用与完善研究"(项目编号:172400410647)的阶段性成果

摘　　要：本文运用固定效应模型和随机效应模型,对行业监管制度、行业属性与企业环境投资之间的关系进行实证研究,剖析基于行业差异的企业环境投资驱动因素。结果表明行业监管制度对于提升企业环境投资水平的作用未得到充分发挥,重污染企业并没有比非重污染企业投入更多的环保资金,重污染行业属性未增强监管制度对企业环境投资的促进作用;企业环境投资水平会随着企业规模的壮大、发展能力的提升而显著提高,盈利能力、盈余质量较好的企业环境投资水平相对较高,成长性较好的企业环境投资水平反而较低;非重污染行业中,营运能力与企业环境投资正相关,发展能力与重污染企业环境投资负相关,与非重污染企业正相关,偿债能力对企业环境投资的影响有限。The relationship among industry regulation, industry attributes and enterprise environmental investment was empirically researched using fixed effect model and random effect model, and the driving factors were analyzed based on the industry difference. The industry supervision system is not enhancing the investment level, and heavy pollution enterprise did not put more environmental protection funds, so the properties of heavy pollution did not strengthen the promotion of supervision system. Corporate environmental investing level is developing with the enterprise scale and ability. The enterprise with high profitability and good quality is relatively higher in environmental investment level, but lower levels in the enterprise with better growth. Operating ability and development capacity are positively related to the environmental investment in the light pollution industry, but negatively related to the heavy pollution enterprise, and solvent effect is limited.

关 键 词：监管制度 行业属性 环境投资 固定效应 随机效应 混合回归模型 

分 类 号：F224[经济管理—国民经济]