摘要
环境法规的目标是使企业意识到环境管理的重要性,在企业出现环境违规行为时施加的环保处罚导致企业遭受的经济损失应高于企业为环境合规增加的费用支出,进而激励企业开展环境管理。利用KMV模型和PSM方法实证检验企业环境违规行为对其债务履约的影响,研究发现,存在环境违规且被处罚的企业,其债务履约行为并未显著低于环境绩效好的企业,甚至优于环境未违规企业的履约表现。说明当前我国对环境违规企业的处罚威慑力不足。应完善环保法律体系,优化环保标准;加强银行信贷审核,构建环境违规披露负面清单;利用舆论力量,扩大企业环境违规的负面影响,加大企业违规事件的曝光度,提高企业利益相关者对企业环保行为的关注,进而降低企业环境违规动机。
The goal of environmental laws and regulations is to make enterprises aware of the importance of environmental management. The environmental penalties imposed on enterprises in the event of environmental violations lead to economic losses incurred by enterprises that are higher than the increased expenses for environmental compliance,thereby incentivizing enterprises to carry out environmental management. Using the KMV model and the PSM method to empirically test the impact of corporate environmental violations on their debt performance,the study found that for companies that have environmental violations and are punished,their debt performance is not significantly lower than that of companies with good environmental performance,and even better than the performance of the non-violating enterprise group. It shows that the deterrent force of penalties for corporate environmental violations in China is insufficient. It is necessary to improve the environmental protection legal system and optimize environmental protection standards;strengthen bank credit review and build a negative list of environmental violations and omissions;use the power of public opinion to expand the negative impact of corporate environmental violations,increase the exposure of corporate violations,increase the awareness of corporate stakeholders,and thereby reduce the motivation of enterprises to violate environmental regulations.
作者
关晓宇
韩淑亚
周昊明
GUAN Xiao-yu;HAN Shu-ya;ZHOU Hao-ming(School of Accounting,Changchun Finance College,Changchun130028,China;Business School,Shandong Yingcai University,Jinan250104,China;Guanghua School of Management,Peking University,Beijing100871,China)
出处
《税务与经济》
CSSCI
北大核心
2023年第3期99-105,共7页
Taxation and Economy
基金
吉林省教育厅人文社科重点项目(JJKH20210793SK)
吉林省教育厅人文社科重点项目(JJKH20220131SK)。
关键词
环境违规
法律环境
违约距离
债务违约
Environmental Violations
Legal Environment
Default Distance
Debt Default
