企业碳信息披露对企业价值创造影响的实证分析

摘要

This paper selects 157 listed enterprises of heavy polluted industry in China of 2013 as the samples , using the method of content analysis to test the relationship between carbon information disclosure and enterprise value empirically . The study finds that :the level of carbon information disclosure of heavy polluted industry in China is low ;the relationship between the enterprise value and the car-bon information disclosure is significantly negative ;the relationship between the enterprise value and the profitability of the enterprise is sig-nificantly positive;the relationship between the enterprise value and the financial leverage of the enterprise is significantly negative ;the re-lationship between the enterprise value and the growth of the enterprise is significantly positive ;the capital density of the enterprise has ef-fect on the enterprise value negatively , but not significantly .%本文选取2013年我国重污染行业157家上市企业作为研究样本，运用内容分析法实证检验了碳信息披露对企业价值创造的影响。结果发现：我国重污染行业上市企业碳信息披露水平比较低。企业碳信息披露水平与企业价值呈显著负相关。企业盈利能力与企业价值呈显著正相关。企业财务杠杆水平与企业价值呈显著负相关。企业成长性与企业价值呈显著正相关。企业资本密度对企业价值创造有负的影响，但不显著。