碳信息披露水平能否矫正企业非效率投资?--基于A股上市公司的实证经验  

Can the Level of Carbon Information Disclosure Correct Corporate Inefficient Investment?The Empirical Experience from A-Share Listed Companies

作　　者：崔雨晴 Cui Yuqing(School of Accountancy,Lanzhou University of Finance and Economics,Lanzhou 730101,China)

机构地区：[1]兰州财经大学会计学院,兰州730101

出　　处：《无锡商业职业技术学院学报》2024年第1期30-40,共11页Journal of Wuxi Vocational Institute of Commerce

基　　金：兰州财经大学研究生科研项目“董责险对上市公司治理影响的研究:基于控股股东股权质押行为视角”(KJ-202210)。

摘　　要：为实现“双碳”目标,企业有责任对外披露更高水平的碳信息。以2013-2020年A股上市公司为研究样本,实证检验碳信息披露水平与企业非效率投资之间的关系。结果显示:碳信息披露水平的提高能够有效矫正企业非效率投资;碳信息披露通过提高信息透明度、抑制盈余管理的方式作用于企业非效率投资;碳信息披露对非效率投资的矫正作用因产权性质、企业所处地区的市场化程度而存在差异。为提升我国上市公司碳排放信息披露质量,建议有关机构完善碳信息披露制度,提高政策制定的针对性,促使更多企业参与到碳信息披露中;构建完善的碳信息披露评级制度,对企业碳信息披露水平进行科学评价。In order to achieve the dual carbon goals,enterprises have the responsibility to disclose a higher level of carbon information to the outside world.Taking A-share listed companies from 2013 to 2020 as research samples,this paper empirically examines the relationship between the level of carbon information disclosure and corporate inefficient investment.The results show that improving the level of carbon information disclosure can effectively correct corporate inefficient investment.Carbon information disclosure affects corporate inefficient investment by improving information transparency and inhibiting excess management.The corrective effect of carbon information disclosure on inefficient investment varies according to the nature of property rights and the degree of marketization of the region where enterprises are located.In order to improve the quality of carbon emission information disclosure of listed companies in China,it is suggested that relevant institutions should improve the carbon information disclosure system and strengthen the targeted policy formulation to encourage more enterprises to participate in carbon information disclosure,and establish a complete carbon information disclosure rating system to scientifically evaluate the level of corporate carbon information disclosure.

关 键 词：碳信息披露 非效率投资 信息不对称 代理问题 低碳经济 

分 类 号：F275[经济管理—企业管理]