碳信息披露与企业价值——来自中国沪市A股上市公司的经验数据  

Carbon Information Disclosure and Enterprise Value:Empirical Evidence from A-Share Listed Companies in Shanghai Stock Exchange of China

作　　者：倪国爱 王傲 NI Guo-ai;WANG Ao(Tongling University,Tongling Anhui 244061,China;Anhui University of Finance and Economics,Bengbu Anhui 233030,China)

机构地区：[1]铜陵学院会计学院,安徽铜陵244061 [2]铜陵学院,安徽铜陵244061 [3]安徽财经大学会计学院,安徽蚌埠233030

出　　处：《铜陵学院学报》2022年第6期3-9,共7页Journal of Tongling University

基　　金：安徽省高校人文社会科学重大研究项目“国家审计与经济高质量发展”(SK2021ZD0082);安徽财经大学与铜陵学院联合培养科研创新基金项目“碳信息披露与企业价值——来自中国沪市A股上市公司的经验数据”(22tlaclhy1)。

摘　　要：企业作为市场经济发展的排头兵也是我国碳排放的主要来源,政府、社会公众对企业碳信息披露的重视程度日益上升。文章选取2016—2019年国内沪市A股167家重污染行业企业作为研究样本,108家轻污染行业企业作为对照组样本,实证检验了碳信息披露与企业价值之间的关系。研究结果表明,企业碳信息披露水平与企业价值呈正相关关系,并且这种正相关关系在重污染企业中更加显著。政府在制定政策和强制性措施的时候应当考虑如何调动企业碳信息披露积极性,同时降低碳信息披露在不同产权性质企业价值作用的差距,从而提升市场有效性。With economic development,a large amount of greenhouse gas emission has destroyed the ozone layer and led to global warming.In order to effectively mitigate the impact of climate warming and prevent further environmental degradation,many governments have put forward emission reduction targets.In China,enterprises,as the pacesetter in the development of market economy,are also the main source of carbon emissions in China.Therefore,the government and the public pay more and more attention to the carbon information disclosure of enterprises.This paper selects 167 heavy pollution industry enterprises in Shanghai A-share market from 2016 to 2019 as the research sample,and 108 light pollution industry enterprises as the control sample.The results show that there is a positive correlation between the level of enterprise carbon disclosure and enterprise value,and the positive correlation between the level of enterprise carbon disclosure and enterprise value is more significant in heavily polluting enterprises.This paper enriches the literature on the economic consequences of carbon information disclosure,and provides empirical evidence for the government to strengthen environmental supervision.It has certain practical significance in encouraging enterprises to actively carry out carbon emission reduction and carbon disclosure.

关 键 词：碳信息披露 碳减排 企业价值 环境监管 

分 类 号：F272.3[经济管理—企业管理]