摘要
社会公众对实现可持续发展的愿望日益强烈,要求企业进行绿色生产的呼声越来越高,我国企业面临更加严重的环境压力。以化学制品制造业2015-2017年数据进行回归分析,研究环境信息披露与债务融资成本之间的关系问题。研究发现,进行环境信息披露能够显著降低债务融资成本,涉及具体数据的环境信息对降低企业的债务融资成本的影响更大。同时,企业内部控制质量也在其中发挥着重要的中介作用。最后,从政府和企业角度提出针对性的建议。
The desire of the public to realize the sustainable development is more and more intense,and the sound of demanding enterprises to carry on the green production is higher and higher,and the enterprises in our country are facing more serious environmental pressure.This paper studies the relationship between environmental information disclosure and debt financing cost based on the data of chemical manufacturing industry from 2015 to 2017.It is found that environmental information disclosure can significantly reduce the cost of debt financing,and environmental information related to specific data has a greater impact on reducing the cost of debt financing.At the same time,enterprise internal control quality also plays a part of intermediary role.Finally,from the point of view of the government and enterprises respectively put forward targeted recommendations.
作者
王娟
杨嘉昕
WANG Juan;YANG Jia-xin(School of Management,Nanjing University of Posts and Telecommunications,Nanjing 210003,China)
出处
《科技和产业》
2020年第3期12-18,共7页
Science Technology and Industry
基金
江苏省研究生科研与创新计划项目(SJCX19_0291)。
关键词
环境信息披露
债务融资成本
内部控制质量
中介效应
environmental information disclosure
debt financing cost
internal control quality
intermediary effect
