碳信息披露与企业价值相关性研究

›› 2017, Vol. 29 ›› Issue (12): 175-184.

碳信息披露与企业价值相关性研究

李雪婷¹, 宋常¹, 郭雪萌²

1. 中国人民大学商学院, 北京 100872;
2. 北京交通大学经济管理学院, 北京 100044

收稿日期:2015-07-31 出版日期:2017-12-28 发布日期:2017-12-20
作者简介:李雪婷,中国人民大学商学院博士研究生;宋常,中国人民大学商学院教授,博士生导师,博士;郭雪萌,北京交通大学经济管理学院教授,博士生导师,博士。

Enterprise-value Effect of Carbon Disclosure

Li Xueting¹, Song Chang¹, Guo Xuemeng²

1. Business School, Renmin University of China, Beijing 100872;
2. School of Economics and Management, Beijing Jiaotong University, Beijing 100044

Received:2015-07-31 Online:2017-12-28 Published:2017-12-20

摘要/Abstract

摘要：

低碳经济是目前全球经济发展的趋势，企业碳信息披露已经越来越多地受到各国政府和投资者的关注。本文通过实证研究证明中国企业碳信息披露对企业价值有提升作用，而且碳排放越高的企业这种提升作用越明显，同时作为外部因素的机构投资者，也加强了碳信息披露与企业价值之间的敏感度。本文的研究为企业碳信息披露的合理性和有用性，在微观层面上起到了一定的解释作用。

关键词: 碳信息披露, 企业价值, 碳排放, 机构投资者

Abstract:

Low-carbon economy is a trend of the current global economy. And carbon disclosure has been increasingly concerned by governments and investors. The empirical studies in this paper draw a conclusion that Chinese companies' carbon disclosure can enhance their enterprise value, and the enhancement is more obvious for the companies with more carbon emissions. Meanwhile, as an external factor, institutional investors also strengthen the sensitivity between carbon disclosure and enterprise-value. Our research explains the rationality and usefulness of carbon disclosure at the micro level.

Key words: carbon disclosure, enterprise-value, carbon emission, institutional investors

李雪婷, 宋常, 郭雪萌. 碳信息披露与企业价值相关性研究[J]. , 2017, 29(12): 175-184.

Li Xueting, Song Chang, Guo Xuemeng. Enterprise-value Effect of Carbon Disclosure[J]. , 2017, 29(12): 175-184.

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