上市公司动态协调和长期均衡发展研究——基于钢铁行业环境绩效与财务绩效分析被引量：13

Research on Dynamic Coordination and Long-term Balanced Development of Listed Companies——Based on Analysis of Environmental Performance and Financial Performance of Steel Industry

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摘要文章基于上市公司钢铁行业1996-2016年的环境与财务数据,通过研究企业改进环境绩效的额外成本将降低公司的经济效益、企业环境绩效的提高会导致财务绩效减少等问题,报告了环境绩效对财务绩效具有正相关的作用,认为其不仅能改善社会和环境绩效,同时可以提高财务绩效现状。文章采用自相关模型的协整检验、格兰杰因果关系检验、脉冲响应和方差分解方法,展开实证研究和调查,反映了我国20年间钢铁上市公司营业总收入、环境资本投入、环境费用,环境评估方面的吨钢二氧化硫排放、吨钢化学需氧量排放等内在相关性问题,得出钢铁行业环境绩效与财务绩效之间存在长期稳定关系的基本结论,提出加强环境绩效管理、合理投入环境资本等政策建议,以期实现上市公司积极主动地开展环境管理的目的。 Based on the environmental and financial data from 1996 to 2016 of the listed steel industry, the problems are studied in the article. The additional costs of improving environmental performance might reduce the company＇s economic efficiency, and improving the company＇s environmental performance might result in the reduction of financial performance. The report from the article is that environmental performance has a positive correlation with financial performance, not only can improve social and environmental performance, but also improve the performance of financial performance. Through the usage of autocorrelation model cointegration test, Granger causality test, impulse response and variance decomposition method, the empirical research and investigations are conducted,reflecting the intrinsic relevance of China＇s steel listed companies＇ total operating income, environmental capital investment, environmental costs, environmental assessment of sulfur dioxide emissions per ton of steel, chemical oxygen demand emissions per ton of steel, etc.The basic conclusions of long-term stable relationship between industry environmental performance and financial performance are drawn in the article, and policy recommendations are put forward, such as strengthening environmental performance management and rationally investing in environmental capital, so as to realize the purpose of listed companies proactively carrying out environmental management.

作者张仪华王园 ZHANG Yi-hua, WANG Yuan(School of Business Administration, Jimei University, Xiamen Fujian 361021, China)

机构地区集美大学工商管理学院

出处《技术经济与管理研究》北大核心 2018年第8期84-89,共6页 Journal of Technical Economics & Management

基金 2015年福建省高等学校杰出青年科研人才培育计划基金项目(JAJQ1501)

关键词上市公司环境绩效财务绩效绩效管理 Listed companies Environmental performance Financial performance Performance management

分类号 F224 [经济管理—国民经济]

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参考文献2

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2何玉,唐清亮,王开田.碳绩效与财务绩效[J].会计研究,2017(2):76-82. 被引量：75

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