异质性环境规制、内部控制质量与ESG信息披露质量  

Heterogeneous Environmental Regulation,Internal Control Quality and ESG Disclosure Quality

作　　者：郭毓东[1] 周耔仪 Guo Yudong;Zhou Ziyi(School of Economics and Management,Hunan University of Technology,Zhuzhou 412007,China)

机构地区：[1]湖南工业大学经济与管理学院,湖南株洲412007

出　　处：《科技创业月刊》2025年第4期1-10,共10页Journal of Entrepreneurship in Science & Technology

基　　金：湖南省教育厅科学研究重点项目“数字经济发展对我国碳排放的影响机制与效应研究”(22A0400);湖南省研究生科研创新项目“环境规制对企业ESG信息披露质量的影响研究”(CX20240918)。

摘　　要：环境规制是促使企业积极承担环境和社会责任的重要手段。基于中国沪深A股上市企业2014-2022年的数据样本,实证考察命令控制型、市场激励型和公众参与型这三类环境规制对ESG信息披露质量的作用机制。结果表明,三类环境规制均有利于企业ESG信息披露质量的改善;内部控制质量对这二者之间的关系具有显著的正向促进作用。拓展性分析发现,市场激励型和公众参与型环境规制在不同行业属性和产权性质中均能显著提升ESG信息披露质量。研究可为合理运用环境规制工具、强化环境责任与内部控制融合以及激励企业披露高质量ESG信息提供经验证据。Environmental regulation serves as a crucial mechanism to incentivize enterprises in actively fulfilling their environmental and social responsibilities.Based on panel data from Shanghai and Shenzhen A-share listed companies during 2014-2022,this study empirically examines the effects of three distinct environmental regulation approaches-command-and-control,market-incentive,and public-participation-on ESG information disclosure quality.The findings demonstrate that all three regulatory approaches significantly improve corporate ESG disclosure quality,with internal control quality exhibiting a positive moderating effect on this relationship.Extended analyses reveal that market-incentive and public-participation regulations consistently enhance ESG disclosure quality across diverse industry sectors and ownership structures.These conclusions provide empirical evidence for policymakers to rationally deploy environmental regulation instruments,strengthen the integration of environmental accountability with internal governance mechanisms,and motivate high-quality ESG disclosures among corporations.

关 键 词：异质性环境规制 ESG信息披露质量 内部控制质量 调节效应 

分 类 号：X322[环境科学与工程—环境工程] F832.51[经济管理—金融学]