環(huán)境績效對財務(wù)績效的影響研究--基于新能源上市公司的證據(jù)

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摘 要
當(dāng)前經(jīng)濟(jì)不斷發(fā)展，環(huán)境問題愈來愈引起國際社會的關(guān)注。我國改革開放36年達(dá)到西方國家百年的發(fā)展水平，但隨之而來的是嚴(yán)重的環(huán)境問題。在人們環(huán)境意識不斷提高以及新型工業(yè)化發(fā)展的雙重要求下，企業(yè)環(huán)境績效的概念一再被強調(diào)。
本文以新能源行業(yè)上市公司為例，系統(tǒng)總結(jié)了國內(nèi)外有關(guān)文獻(xiàn)，選取2007年-2013年76家新能源行業(yè)的上市公司為數(shù)據(jù)樣本，研究環(huán)境績效對財務(wù)績效的影響及兩者之間的關(guān)系。首先，通過相關(guān)文獻(xiàn)和有關(guān)社會責(zé)任報告的研究，明確了環(huán)境績效與財務(wù)績效的概念與評價指標(biāo)，然后，通過STATA軟件，利用計量模型來分析環(huán)境績效對財務(wù)績效的影響。本文研究發(fā)現(xiàn)：在新能源企業(yè)中環(huán)境績效對財務(wù)績效的營運能力是存在正相關(guān)性的；環(huán)境績效對企業(yè)的發(fā)展能力是正相關(guān)的；環(huán)境績效對新能源公司的盈利能力的影響短期內(nèi)是負(fù)相關(guān)的，但滯后檢驗表明在長期內(nèi)環(huán)境績效對盈利能力是有積極作用的。最后，針對新能源企業(yè)的實際情況，提出相關(guān)性建議，通過環(huán)境績效的提高來改善上市公司的財務(wù)績效。

關(guān)鍵詞：財務(wù)績效 環(huán)境績效 新能源上市公司


ABSTRACT
The current economic development, environmental problems caused by growing concern of the international community . China's reform and opening up 36 years to reach the level of developed Western countries for centuries , but the attendant is a serious environmental problem. Continuous improvement in environmental awareness and the development of the dual demands of new industrialization , the concept of corporate environmental performance has been repeatedly emphasized .
   In this paper, the new energy industry companies , for example, the system summarizes the relevant literatures , select 2007 -2013 76 newly listed companies in the energy sector between data samples , environmental impact studies on the financial performance and the performance of both relationships. First, through the relevant literature and research on social responsibility report , a clear concept of environmental performance and financial performance and eva luation , and then , through the STATA software, using econometric models to analyze the impact of environmental performance on financial performance . The research found : In the new energy enterprises in the environmental performance of the financial performance of the operating capacity is positively correlated ; environmental performance of the enterprise development capabilities are positively correlated ; affect environmental performance of the new energy company 's profitability in the short term negative correlation , but the lag test showed that the environmental performance in the long run profitability is positive. Finally, the actual situation of new energy companies , make relevant recommendations by improving environmental performance to improve the financial performance of listed companies.

Keywords : environmental performance of new energy financial performance of listed companies


目 錄

前 言 ··············································VII
第一章 概 論············································ 1
1.1環(huán)境績效概念界定··············································1
1.2財務(wù)績效概念界定 ·············································1
1.3新能源企業(yè)特點及行業(yè)概況 ·····································2
第二章 理論分析 ·········································3
2.1 環(huán)境績效與財務(wù)績效之間的內(nèi)在關(guān)系··························· 3
2.2 相關(guān)假設(shè)提出 ···············································4
第三章 研究設(shè)計··········································6
3.1樣本選擇與數(shù)據(jù)來源 ··········································6
3.2變量設(shè)計 ····················································6
3.2.1 自變量與因變量定義 ······································6
3.2.2 控制變量定義···········································7
3.4 研究模型與方法 ·············································9
3.4.1 計量模型構(gòu)建 ···········································9
3.4.2本文實證思路 ···········································10
第四章 實證分析 ·····································11
4.1 變量的描述性分析 1··········································11
4.2 相關(guān)性分析 ····························..