造纸业上市公司环境绩效与公司绩效关系研究  

Research on the Relationship between Environmental Performance and Corporate Performance of Papermaking Listed Companies

作　　者：许立芸 肖康元[1] 

机构地区：[1]上海海事大学

出　　处：《财会通讯（中）》2018年第4期38-42,共5页Communication of Finance and Accounting

摘　　要：本文以在沪深证券交易所上市的造纸业的所有25家公司作为研究对象,搜集2013~2015年共三年的面板数据,从实证角度分析我国造纸业上市公司的公司绩效对环境绩效的影响,并以从每家公司财务报表中采集到的公司污水治理费用和环保固定资产投资之和作为环保支出衡量公司的环境绩效,用资产收益率(ROA)指标作为公司绩效的衡量;通过面板数据的回归分析和主成分分析,找出对应关系和主要影响因素,发现造纸业上市公司的环境绩效与公司绩效之间呈现正相关关系,且公司偿债能力和获利能力越好,应收账款周转期越短,公司越愿意投资于环境保护。This paper collects all the 25 companies in the paper industry listed on the Shanghai and Shenzhen Stock Exchange as a research object,and collects a total of three years of panel data from 2013 to 2015.This paper analyzes the relationship between the corporate performance and environmental performance of listed companies in China's paper industry and measures the environmental performance of the company from the sum of corporate sewage treatment costs and environmental fixed assets investment collected from each company's financial statements.And adopts ROA as a measure of firm performance.Based on the regression analysis and principal component analysis of panel data,the corresponding relationship and the main influencing factors are found.Besides,it is found that there is a positive correlation between environmental performance and corporate performance of listed companies in paper industry,and if the company's solvency and profitability are better,the accounts receivable turnover are shorter,the more willing the company has to invest in environmental protection.

关 键 词：造纸业上市公司 环境绩效 公司绩效 

分 类 号：F406.7[经济管理—产业经济] F426.83F832.51