矿产业上市公司ESG表现与股价波动的关系研究  

Research on the Relationship Between ESG Performanceand Stock Price Fluctuation of ListedCompanies of Mining Industry

作　　者：蔡奕帆 逄宇彤 CAI Yi-fan;PANG Yu-tong(School of Accounting,Hunan University of Finance and Economics,Changsha Hunan 410205)

机构地区：[1]湖南财政经济学院会计学院,湖南长沙410205

出　　处：《湖南财政经济学院学报》2023年第5期57-67,共11页Journal of Hunan University of Finance and Economics

基　　金：湖南省哲学社会科学基金项目“乡村振兴背景下共享财务治理机制研究”(项目编号:22YBA282)、湖南财政经济学院教学改革研究项目“智能共享环境下高校应用型会计人才培养研究”。

摘　　要：随着2020年“双碳”目标的提出,如何实现可持续发展成为学界与业界关注的热点问题。以2011—2020年矿产业上市公司作为研究对象,实证检验其ESG表现与股价波动的关系。研究结论表明:矿产业上市公司ESG总体表现与股价波动性呈显著负相关,环境表现、公司治理与股价波动显著负相关。从产权性质上来看,环境治理、公司治理对于国企股价波动影响更大。为了保持股价稳定性,矿业公司应增加环保投入,进行充分的尽职调查,提高企业社会责任披露报告,推动建立一套完善的ESG信息披露管理监督与评价体系。借鉴国际上ESG评价体系标准,推动我国ESG体系与国际接轨。With the 2020“Double carbon”target,how to achieve sustainable development has become a hot issue of our concern.Taking the listed mining companies from 2011 to 2020 as the research object,this paper empirically tests the relationship between their ESG performance and their stock price fluctuation.The results show that ESG performance has a significant negative correlation with stock price volatility,while environmental performance,corporate governance has a significant negative correlation with stock price volatility.From the nature of property rights,environmental governance,corporate governance on the state-owned enterprise stock price volatility greater impact.In order to maintain the stability of stock prices,mining companies should increase environmental protection investment,conduct adequate due diligence,and improve corporate social responsibility disclosure reports,promote the establishment of a set of perfect ESG information disclosure management supervision and evaluation system;learn from the international ESG evaluation system standards,promote our ESG system with international standards.

关 键 词：矿产行业 ESG表现 股价波动 

分 类 号：F820[经济管理—财政学]