摘要
以2010—2019年沪深A股重污染上市公司为研究样本,对环境信息披露质量的绿色创新效应进行实证分析,并从融资约束和代理成本视角检验中介作用。研究结果表明,重污染企业中环境信息披露质量与企业绿色创新水平存在正相关关系,融资约束和代理成本在环境信息披露质量和绿色创新的关系中发挥部分中介效应,具体来说,企业环境信息披露质量的提高可以有效降低融资约束和代理成本,进而促进绿色创新。进一步研究发现,环境信息披露质量对绿色创新的促进作用仅在国企、大规模企业和东部地区成立。这为环境信息披露政策的制定、绿色创新水平的提升和推进企业绿色转型提供了经验证据。
Taking Shanghai and Shenzhen A-share listed companies with heavy pollution from 2010 to 2019 as research samples, this paper makes an empirical analysis on the green innovation effect of environmental information disclosure quality, and tests the intermediary role from the perspective of financing constraints and agency costs.The results show that there is a positive correlation between the quality of environmental information disclosure and the level of green innovation in heavily polluting enterprises.From the perspective of influence mechanism, financing constraints and agency costs play an intermediary role in the relationship between the quality of environmental information disclosure and green innovation.Specifically, the improvement of the quality of environmental information disclosure can effectively reduce the negative impact of financing constraints and agency costs on green innovation, thus it promotes green innovation.Further study finds that environmental information disclosure quality in promoting green innovation is only established in state-owned enterprises, large-scale enterprises and the eastern region, which provides empirical evidence to formulate environmental information disclosure policies, promote green innovation and the green transformation of enterprises.
作者
朱鹏
郭文凤
ZHU Peng;GUO Wenfeng(School of Accounting,Hunan University of Technology and Business,Changsha 410205,China)
出处
《吉首大学学报（社会科学版）》
CSSCI
2022年第6期92-101,共10页
Journal of Jishou University(Social Sciences)
基金
国家社会科学基金青年项目(18CJY017)
湖南省社会科学基金重点项目(19ZDB009)
湖南省教育厅科学研究优秀青年项目(20B156)。
关键词
环境信息
披露质量
绿色创新
environmental information
disclosure quality
green innovation
