环境成本内部化对财务绩效、环境绩效的影响——以造纸行业为例
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摘要
文章以2010~2015年造纸行业上市公司为样本进行了实证研究,检验了环境成本内部化程度对财务绩效、环境绩效的影响,其中,财务绩效用总资产收益率衡量,环境绩效用单位营业收入的排污费衡量,环境成本内部化程度用构建的指标衡量。实证研究发现,环境绩效与财务绩效成正相关关系;环境成本内部化程度的提升能促进环境绩效的优化;当期环境成本内部化的提高在短时间内会抑制当期财务绩效,但长期来看,能够改善企业的财务绩效。
In this paper, an empirical study was made with the data of the paper industry from 2010 to 2015, and the influence of the internalization of environmental cost on financial performance and environmental performance was examined. Among them, the financial performance was measured by ROA, the environmental performance was measured by the sewage charges of one unit operating income, and the internalization of environmental cost was measured by the index constructed in this paper. Finally, it was found that there was a positive relationship between environmental performance and financial performance, a positive association between the internalization of environmental cost and environmental performance, and a quadratic relationship between the internalization of environmental cost and financial performance.
In this paper, an empirical study was made with the data of the paper industry from 2010 to 2015, and the influence of the internalization of environmental cost on financial performance and environmental performance was examined. Among them, the financial performance was measured by ROA, the environmental performance was measured by the sewage charges of one unit operating income, and the internalization of environmental cost was measured by the index constructed in this paper. Finally, it was found that there was a positive relationship between environmental performance and financial performance, a positive association between the internalization of environmental cost and environmental performance, and a quadratic relationship between the internalization of environmental cost and financial performance.
引文
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陈思颖.环境信息披露、环境绩效和经济绩效的实证研究[D].湖南大学,2014
郭道扬.二十世纪会计大事评说(七)一走向宏观经济控制:二十世纪会计发展的新领域[J].财会通讯,1999(7):15~18
胡曲应.上市公司环境绩效与财务绩效的相关性研究[J].中国人口·资源与环境,2012(6):23~32
加强生态平衡经济问题的研究--生态经济问题座谈会记录[J].经济研究,1980(11):3~13
焦董瑞,杨文会.浅谈环境成本的重新分类[J].财会与审计,2009(3):67~69
联合国统计司.环境与经济综合核算体系.1993
吕峻.公司环境披露与环境绩效关系的实证研究[J].管理学报,2012(12):1856~1863
宋小芬,阮和兴.环境成本内部化与竞争力[J].经济与管理,2004(7):43~46
王官囤.企业财务绩效与社会责任关系的实证研究[D].东北财经大学,2011
王沛超.基于可持续发展的钢铁企业环境成本内部化研究[D].辽宁科技大学,2011
徐瑜青,王燕祥,李超.环境成本计算方法研究──以火力发电厂为例[J].会计研究,2002(3):49~53
薛丽.环境成本内部化对国际贸易的影响研究[J].太原大学学报,2015(16):34~37
Imre Dobos.Production strategies under environmental constraints:Continuous-time model with concave costs[J].International Journal of Production Economics,2001(71):323~330
J.Rockness,P.Schlachter,H.Rockness.Hazardous Waste Disposal Corporate Disclosure and Financial Performance in the Chemical Industry[J].Advances in Public Interest Accounting,1986(1):167~191
M.E.Porter,Claas Van Der Linde.Green and competitive:ending the stalemate[J].Harvard Business Publishing Review,1995(9-10),73(5):120~134
Martin Freedman,Bikki Jaggi.An investigation of the long-run relationship between pollution performance and economic performance:The case of pulp and paper firms[J].Critical Perspectives on Accounting,1992(3):315~336
Sulaiman A Al-Tuwaijri,Theodore E Christensen,K.E Hughes II.The relations among environmental disclosure,environmental performance,and economic performance:a simultaneous equations approach[J].Accounting,Organizations and Society,2004(7~8):447~471