绿色制造与企业环境信息披露——基于中国绿色工厂创建的政策实验  

Green Manufacturing and Corporate Environmental Information Disclosure:Evidence from the Policy Experiment of“Creation of Green Factories”in China

作　　者：王茂斌[1] 叶涛 孔东民[2] WANG Maobin;YE Tao;KONG Dongmin(School of China Banking and Finance,University of International Business and Economics;School of Economics,Huazhong University of Science and Technology)

机构地区：[1]对外经济贸易大学中国金融学院,100029 [2]华中科技大学经济学院,:430074

出　　处：《经济研究》2024年第2期116-134,共19页Economic Research Journal

基　　金：国家社会科学基金重大项目(21ZDA010);国家自然科学基金面上项目(71873032);对外经济贸易大学研究生科研创新基金(202303)的资助。

摘　　要：环境信息披露是企业履行环保责任的有效方式,是完善现代环境治理体系的重要渠道,也是中国政府推进绿色转型与构建可持续发展,实现碳中和目标的重要基础。本文以中国绿色制造体系示范建设项目下的绿色工厂创建为准自然实验,深入探究了自愿型环境规制政策对企业环境信息披露的影响效应和机理。结果发现:绿色制造显著提升了企业环境信息披露质量。机制分析发现,绿色制造主要通过绿色工厂企业自身实施降污减排等绿色转型措施、绿色投资者增加关注和机构投资者对企业实地调研产生的倒逼效应发挥作用。进一步分析表明,更高的公众环境关注度和更严格的地方政府环保规制力度能够强化绿色制造的影响效应。经济后果分析发现,绿色工厂创建引致的环境信息披露质量提升一方面促进了企业研发、绿色创新和企业ESG表现的提升,带动了供应链企业的产品绿色化转型,另一方面也驱动了地区层面环境质量的提高。本文为企业环境信息披露影响因素与决定机制提供了微观层面的经验证据,也为绿色制造体系示范项目和自愿型环境规制政策的实施提供了政策评价与现实启示。Corporate environmental information disclosure(EID)is an effective way for firms to fulfill their responsibility for environmental protection,an important channel for the government to promote a modern environmental governance system,and an important foundation for the promotion of carbon peaking and carbon neutrality work.However,the notification information of the Ministry of Ecology and Environment in 2021 shows that there is a persisting deficit in EID awareness among some Chinese firms,with some even deliberately concealing environmental hazards.To incentivize enterprises to accelerate the green transformation of production methods and improve the quality of EID,the government has launched a series of measures.Notably,in 2016,the Ministry of Industry and Information Technology initiated the establishment of a green manufacturing system,including the creation of green factories.This policy represents an innovative approach to voluntary environmental regulation in China,with widespread implementation across provincial-level regions and cities,and has been implemented in many batches.Therefore,in order to judiciously steer enterprises towards high-quality EID,can voluntary environmental regulation policies be effective?The efficacy of such policies warrants investigation,particularly in the absence of a mandatory EID framework.Using this unique Chinese policy experiment,this paper explores in depth the effects and mechanisms of the creation of green factories on the quality of corporate EID.The paper finds that the creation of green factories significantly improves the quality of corporate EID.The mechanism analysis shows that the creation of green factories works mainly through the enterprises’own green transformation measures and pressure from the increased attention of green investors and site visits by institutional investors.Further analysis shows that higher public environmental awareness and stricter local government environmental regulations can further strengthen the impact of the creation of green f

关 键 词：绿色制造 环境信息披露 自愿型环境规制 绿色工厂 

分 类 号：X322[环境科学与工程—环境工程] F424[经济管理—产业经济]