碳会计信息披露质量与债务资本成本——基于我国电力行业上市公司的经验证据  

Quality of Carbon Accounting Information Disclosure and Debt Capital Cost:Empirical Analysis Based on China's Electric Power Industry

作　　者：黄炳艺[1] 雷丽娜 陈春梅 HUANG Bing-yi;LEI Li-na;CHEN Chun-mei(School of Management,Xiamen University,Xiamen 361005,China;Xiamen National Accounting Institute,Xiamen 361005,China)

机构地区：[1]厦门大学管理学院,福建厦门361005 [2]厦门国家会计学院,福建厦门361005

出　　处：《数理统计与管理》2023年第4期581-594,共14页Journal of Applied Statistics and Management

基　　金：国家自然科学基金(71972161,71972162);教育部人文社会科学研究规划基金项目(21YJA630034);中央高校经费资助项目(20720191087)。

摘　　要：随着绿色信贷等环境经济政策的陆续出台,其碳会计信息披露尤受债权人的关注。考虑到电力行业作为高碳行业被首批唯一纳入我国碳交易市场,本文以2014-2018年电力行业上市公司为样本,采用改进的指数法构建碳会计信息披露评价体系,立足于债务资本市场探究碳会计信息披露质量的影响及作用机制。研究发现,电力企业的碳会计信息披露质量与债务资本成本呈显著的负相关关系,而且碳交易市场的发展程度能够强化这种负相关关系。这表明,积极进行碳披露和碳管理是企业的理性选择,政府部门应当积极推动发展碳交易市场,以期我国债务资本市场能够合理反馈碳会计信息。Recently,the electricity industry,as the first high-carbon industry,has been included in carbon emission trading market,and its carbon accounting information disclosure has attracted attention from creditors with the introduction of environmental economic policies such as Green Credit Policy.Thus,this paper,the listed companies in the power industry as a sample,tries to explore the impact of the quality of carbon accounting information disclosure on the cost of debt capital,using improved index method to build the evaluation system.The empirical results show that the quality of carbon accounting information disclosure is negatively correlated with the cost of debt capital,and the degree of development of carbon emission trading market can strengthen the negative correlation.Therefore,it is a wise choice for enterprises to actively carry out carbon disclosure and carbon management.Meanwhile,the government should actively promote the development of carbon trading market for reasonable reaction to carbon accounting information in debt capital market.

关 键 词：碳会计 信息披露质量 债务资本成本 指数法 

分 类 号：O212[理学—概率论与数理统计]