期刊文献+

股权集中度视角下环保投入对企业价值的影响研究 被引量:2

Study on the Impact of Environmental Investment on Enterprise Value from the Perspective of Equity Concentration
原文传递
导出
摘要 企业的环保投入额对其企业价值会产生怎样的影响?股权集中度是否会对企业环保投入额与其企业价值的影响存在调节的作用?回答上述问题有助于更好地了解企业的环保投入行为为企业创造的价值,并明确股权集中度的有效性。本文以沪深两市2009年至2017年度企业社会责任报告中披露环保投入的A股重污染上市公司为样本,实证分析了企业的环保投入与企业价值之间的关系。研究发现:企业的环保投入的增加不利于提升的企业价值;股权集中度有利于促进企业的环保投入;相比于股权集中度低的企业,在股权集中度高的企业中环保投入与企业价值的负向影响会被削弱。 How will the enterprise’s environmental investment affect its enterprise value?Will equity concentration have a regulatory effect on the enterprise’s environmental investment and its enterprise value?Answering the above questions will help to better understand the value created by the enterprise’s environmental input behavior,and clarify the effectiveness of the equity concentration.Based on the sample of A-share heavy-pollution listed companies disclosed in the CSR report of Shanghai and Shenzhen from 2009 to 2017,this paper empirically analyzes the relationship between environmental protection input and enterprise value.The study found that the increase of environmental protection investment of enterprises is not conducive to the promotion of enterprise value,equity concentration is conducive to promoting the enterprise’s environmental investment,compared with enterprises with low equity concentration,the negative impact of environmental protection input and enterprise value in enterprises with high equity concentration will be weakened.
作者 周茂春 李双 ZHOU Maochun;LI Shuang(School of Business Administration,Liaoning Technical University,Huludao 125105)
出处 《科技促进发展》 CSCD 2020年第6期628-634,共7页 Science & Technology for Development
关键词 环保投入 股权集中度 企业价值 environmental investment equity concentration corporate value
  • 相关文献

参考文献9

二级参考文献119

共引文献1062

同被引文献29

二级引证文献1

相关作者

内容加载中请稍等...

相关机构

内容加载中请稍等...

相关主题

内容加载中请稍等...

浏览历史

内容加载中请稍等...
;
使用帮助 返回顶部