摘要 环境信息披露是政府、投资者以及社会公众了解企业实际履行环境责任情况的重要信息来源之一。为了研究企业环境信息披露水平对其债务融资成本的影响,以我国重污染行业上市公司2015~2018年数据为研究样本对其进行实证研究。研究结果表明:非货币性环境信息披露与债务融资成本呈负相关关系,而货币性环境信息披露与债务融资成本则呈正相关,会增加企业债务融资成本。另外,环境规制能够进一步强化企业环境信息披露对其债务融资成本的影响关系。 Disclosure of environmental information remains an important data source for the government,investors and the public to understand the actual performance of environmental responsibility of enterprises.In order to study the impact efficiency of environmental information disclosure on the debt financing cost of enterprises,the data of listed companies in heavy pollution industries in China from 2015 to 2018 are made as the research sample to conduct empirical research.The results show that:there is a negative correlation between non-monetary environmental information disclosure and debt financing cost,while monetary environmental information disclosure is positively correlated with debt financing cost,which will increase enterprise debt financing cost.In addition,environmental regulation can further strengthen the impact of environmental information disclosure on the cost of debt financing.
机构地区 湖南工业大学经济与贸易学院
出处 《洛阳理工学院学报:社会科学版》 2021年第2期18-23,共6页 Journal of Luoyang Institute of Science and Technology:Social Science Edition
基金 湖南省自然科学基金面上项目“区域低碳产业协同创新体系形成机理及引导模式研究”(编号:2015JJ2048)的阶段性成果.
关键词 环境污染 环境信息披露 债务融资成本 environmental pollution environmental information disclosure debt financing cost
