【摘要】：經(jīng)濟(jì)的順勢發(fā)展,引發(fā)了嚴(yán)重的環(huán)境問題,從而環(huán)境信息披露受到公眾的廣為關(guān)注。為此,政府積極采取措施,如相關(guān)法律法規(guī)應(yīng)運(yùn)而生；中外學(xué)術(shù)界非常重視這方面的研究。我國規(guī)范研究的方向是環(huán)境信息披露與企業(yè)價(jià)值的相關(guān)性,而此方面的實(shí)證研究偏少。本文將規(guī)范分析與實(shí)證分析相結(jié)合,主要研究兩個(gè)問題：研究環(huán)境信息披露如何影響企業(yè)價(jià)值和環(huán)境信息披露與企業(yè)價(jià)值相關(guān)性分別因行業(yè)的不同而受到哪些影響。首先,在本文第二章對環(huán)境信息披露的理論基礎(chǔ)進(jìn)行了篩選、整理與總結(jié),并列出文中引用的相關(guān)的國內(nèi)外文獻(xiàn)綜述。其次,在本文第三章以892家滬市上市公司的環(huán)境信息披露情況為依據(jù),分為重污染和非重污染兩大行業(yè)進(jìn)行比較,為后面第五章的實(shí)證研究提供數(shù)據(jù)依據(jù)。之后,本文依據(jù)上述內(nèi)容提出兩大假設(shè)并構(gòu)建實(shí)證模型。再選取2010-2012年間上交所企業(yè)社會責(zé)任報(bào)告,以及國泰安金融經(jīng)濟(jì)信息數(shù)據(jù)庫(CSMAR)的相關(guān)數(shù)據(jù),進(jìn)行描述性統(tǒng)計(jì)、Spearman相關(guān)性分析、共線性檢驗(yàn)、多元線性回歸分析以及穩(wěn)健性檢驗(yàn),本文的結(jié)論由此得出。本文通過一系列的研究,結(jié)果表明：(1)對我國滬市上市公司環(huán)境信息披露水平進(jìn)行研究,結(jié)果發(fā)現(xiàn)環(huán)境信息披露水平越高其企業(yè)價(jià)值越高,反之,則越低。即環(huán)境信息披露水平與企業(yè)價(jià)值呈正比；(2)行業(yè)差異對我國滬上市公司環(huán)境信息披露水平與企業(yè)價(jià)值的相關(guān)性有正向影響；(3)根據(jù)研究結(jié)論,筆者提出了針對性的建議,從政府監(jiān)管機(jī)構(gòu)、上市公司管理層、投資者這三個(gè)方面,并指出本文存在的不足和研究展望。根據(jù)政府制定的政策以及未來環(huán)境信息披露的方向,結(jié)合本文研究結(jié)果給出以下建議：(1)政府應(yīng)把重污染行業(yè)上市公司環(huán)境信息披露作為重點(diǎn),承擔(dān)政府的職責(zé)有效的行使政府的監(jiān)督權(quán)；(2)針對環(huán)境信息披露,一些完善的法規(guī)體系應(yīng)該被建立,同時(shí),對重污染行業(yè)上市公司加大外部審計(jì)力度；(3)一些重污染行業(yè)上市公司沒有走可持續(xù)發(fā)展道路,對環(huán)境造成的嚴(yán)重污染,政府應(yīng)將這些企業(yè)作為處罰的對象,并加大處罰力度,同時(shí)提供專項(xiàng)補(bǔ)貼以幫助這些企業(yè)改善環(huán)境；(4)將企業(yè)內(nèi)部的環(huán)境信息披露和企業(yè)審計(jì)制度加以完善,才能從根本上使企業(yè)的環(huán)保意識得以提高；(5)針對環(huán)境信息披露的環(huán)境會計(jì)理論體系應(yīng)被建立和完善。
[Abstract]:The development of economy has caused serious environmental problems, and environmental information disclosure has been widely concerned by the public. Therefore, the government actively takes measures, such as relevant laws and regulations come into being; Chinese and foreign academic circles attach great importance to this aspect of research. The direction of normative research in China is the correlation between environmental information disclosure and enterprise value, but there are few empirical studies in this field. This paper combines normative analysis with empirical analysis to study two main problems: how environmental information disclosure affects enterprise value and how environmental information disclosure and enterprise value relevance are affected by different industries. Firstly, in the second chapter of this paper, the theoretical basis of environmental information disclosure is selected, sorted and summarized, and the relevant domestic and international literature review cited in this paper is listed. Secondly, based on the environmental information disclosure of 892 listed companies in Shanghai Stock Exchange, the third chapter is divided into two major industries: heavy pollution and non-heavy pollution, which provides the data basis for the empirical research in the fifth chapter. Then, this paper puts forward two hypotheses according to the above content and builds the empirical model. Then select the CSR report of Shanghai Stock Exchange from 2010 to 2012 and the relevant data of Cathay Pacific Financial and Economic Information Database (CSMAR) to carry out descriptive statistical Spearman correlation analysis, co-linear test, multivariate linear regression analysis and robustness test. The conclusion of this paper is drawn. Through a series of studies, the results show that: (1) the level of environmental information disclosure of listed companies in Shanghai Stock Exchange is studied. It is found that the higher the level of environmental information disclosure is, the higher the enterprise value is, and the lower the level of environmental information disclosure is. That is, the level of environmental information disclosure is directly proportional to the value of enterprises; (2) the industry differences have a positive impact on the correlation between the level of environmental information disclosure and corporate value of listed companies in Shanghai; (3) according to the conclusions of the study, the author puts forward targeted suggestions. From the three aspects of government supervision, listed company management, investors, and pointed out the shortcomings of this paper and research prospects. According to the policy of the government and the direction of environmental information disclosure in the future, combined with the research results of this paper, the following suggestions are given: (1) the government should focus on the environmental information disclosure of listed companies in heavy pollution industries. (2) for environmental information disclosure, some perfect laws and regulations should be established, at the same time, the listed companies in heavy pollution industry should be strengthened external audit; (3) some listed companies in heavy pollution industries have not taken the road of sustainable development, and the serious pollution to the environment, the government should take these enterprises as the target of punishment, and increase the punishment. At the same time, special subsidies are provided to help these enterprises improve their environment. (5) Environmental accounting theory system for environmental information disclosure should be established and perfected.
【學(xué)位授予單位】：南京財(cái)經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2015
【分類號】：F275

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本文編號：2239900