绿色文化、环境绩效与企业环境绩效信息披露
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摘要
基于认知行为理论,从内部文化角度对企业环境绩效信息披露的影响因素进行探究。本文分析了我国16家重污染行业上市公司的绿色文化水平及其2012～2016年年报和社会责任报告中披露的环境绩效信息,实证检验绿色文化与环境绩效对环境绩效信息披露水平的影响。研究发现:企业环境绩效信息披露水平受绿色文化的正面影响;环境绩效能够正向引导企业的环境绩效信息披露水平;绿色文化在环境绩效对环境绩效信息披露的影响中具有正向的调节作用。研究结果为绿色文化对企业环境绩效信息披露的影响提供了新的视角和证据,丰富了企业环境绩效信息披露的影响因素研究,同时也为企业文化建设的完善、绿色文化的进一步发展提供经验证据。
Based on the cognitive behavior theory, this paper studies the influencing factors of the corporate environmental performance information disclosure from the perspective of the corporate culture. This paper analyzes the green cultural level of listed companies in 16 heavy pollution industries and the environmental performance information disclosed in their 2012～2016 annual reports and social responsibility reports, and empirically tests the influence of the green culture on the disclosure of enterprises' environmental performance information and on the relationship between the environmental performance and the environmental performance information disclosure. The results are as follows: the level of the corporate environmental performance information disclosure is positively affected by the green culture; the environmental performance can positively guide the level of the corporate environmental performance information disclosure; the green culture has a positive regulating effect on the relationship between the environmental performance and the environmental performance information disclosure. The results provide a new perspective and evidence for the impact of the green culture on the disclosure of enterprises' environmental performance information and enrich the research on the influencing factors of enterprises' environmental performance information disclosure. This paper also offers empirical evidence for the improvement of enterprises' culture construction and the further development of the green culture.
Based on the cognitive behavior theory, this paper studies the influencing factors of the corporate environmental performance information disclosure from the perspective of the corporate culture. This paper analyzes the green cultural level of listed companies in 16 heavy pollution industries and the environmental performance information disclosed in their 2012～2016 annual reports and social responsibility reports, and empirically tests the influence of the green culture on the disclosure of enterprises' environmental performance information and on the relationship between the environmental performance and the environmental performance information disclosure. The results are as follows: the level of the corporate environmental performance information disclosure is positively affected by the green culture; the environmental performance can positively guide the level of the corporate environmental performance information disclosure; the green culture has a positive regulating effect on the relationship between the environmental performance and the environmental performance information disclosure. The results provide a new perspective and evidence for the impact of the green culture on the disclosure of enterprises' environmental performance information and enrich the research on the influencing factors of enterprises' environmental performance information disclosure. This paper also offers empirical evidence for the improvement of enterprises' culture construction and the further development of the green culture.
引文
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[7] 王建明.环境信息披露、行业差异和外部制度压力相关性研究——来自我国沪市上市公司环境信息披露的经验证据[J].会计研究,2008,(06):54-62,95.
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[11] 姚圣,周敏.政策变动背景下企业环境信息披露的权衡:政府补助与违规风险规避[J].财贸研究,2017,28(7):99-110.
[12] 朱新玲,李娜.企业环境信息披露行业差异研究——来自重污染行业的经验证据[J].企业经济,2017,36(8):23-29.
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[14] 叶陈刚,王孜,武剑锋,李惠.外部治理、环境信息披露与股权融资成本[J].南开管理评论,2015,18(5):85-96.
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[20] Clarkson P.M.,Li Y.,Richardson G.D.,et al.Revisiting the Relation between Environmental Performance and Environmental Disclosure:An Empirical Analysis[J].Accounting Organizations & Society,2008,33(4-5):303-327.
[21] Cho C.H.,et al.Corporate Disclosure of Environmental Capital Expenditures:A Test of Alternative Theories[J].Accounting,Auditing & Accountability Journal,2012,25(3):486-507.
[22] Dawkins C.E.,Fraas J W.Erratum to:Beyond Acclamations and Excuses:Environmental Performance,Voluntary Environmental Disclosure,and the Role of Visibility[J].Journal of Business Ethics,2011,(99):383-397.
[23] Meng X.H.,et al.The Relationship between Corporate Environmental Performance and Environmental Disclosure:An Empirical Study in China[J].Journal of Environmental Management,2014,145(12):357-367.
[24] 沈洪涛,黄珍,郭肪汝.告白还是辩白——企业环境表现与环境信息披露关系研究[J].南开管理评论,2014,17(2):56-63,73.
[25] Jaggi B.P.Y.Low.Impact of Culture,Market Forces,and Legal System on Financial Disclosure[J].The International Journal of Accounting,2000,35(4):495-519.
[26] Schultz M.,T.J.Lopez.The Impact of National Influence on Accounting Estimates:Implications for International Accounting Standard-setters[J].The International Journal of Accounting,2001,36(3):271-290.
[27] Zarzeski M.T.Spontaneous Harmonization Effects of Culture and Market Forces on Accounting Disclosure Practices[J].Accounting Horizons,1996,10(1):18-37.
[28] Hope O.K.Firm-level Disclosures and the Relative Roles of Culture and Legal Origin[J].Journal of International Financial Management & Accounting,2003,14(3):218-248.
[29] 肖华,李建发,张国清.制度压力、组织应对策略与环境信息披露[J].厦门大学学报(哲学社会科学版),2013,(3):33-40.
[30] Tsakumis G.T.The Influence of Culture on Accountants' application of Financial Reporting Rules[J].Abacus,2014,43(1):27-48.
[31] Magness V.Strategic Posture,Financial Performance and Environmental Disclosure:An Empirical Test of Legitimacy Theory[J].Accounting Auditing & Accountability Journal,2011,19(4):540-563.
[32] Denis Cormier,Michel Magnan,Barbara Van Velthoven.Environmental Disclosure Quality in Large German Companies:Economic Incentives,Public Pressures or Institutional Conditions?[J].European Accounting Review,2005,14(1):3-39.
[33] Guthrie J.,Parker L.D.Corporate Social Disclosure Practice:A Comparative International Analysis[J].Advances in Public Interest Accounting,1990,3(2):159-176.
[34] Waddock,S.A.,Graves,S.B.The Corporate Social Performance-Financial Performance Link[J].Strategic Management Journal,1997,18(4):303-319.
[35] Liu X.,Anbumozhi V.Determinant Factors of Corporate Environmental Information Disclosure:An Empirical Study of Chinese Listed Companies[J].Journal of Cleaner Production,2009,17(6):593-600.
[36] Russo,M.V.,Fouts,P.A.A Resource-based Perspective on Corporate Environmental Performance and Profitability[J].The Academy of Management Journal.1997,40 (3):534-559.
[37] 吴红军.环境信息披露、环境绩效与权益资本成本[J].厦门大学学报(哲学社会科学版),2014,(3):129-138.
[38] 冯巧根.战略管理会计中的文化管理[J].财会学习,2008,(2):17-22.
[39] 帕特·乔恩特,马尔科姆·华纳.跨文化管理[M].卢长怀,等译.大连:东北财经大学出版社,1999:193-216.
[40] 温素彬.基于可持续发展战略的财务管理目标:理论框架与现实证据[J].管理学报,2010,7(12):1857-1862.
[41] 黎文靖,路晓燕.机构投资者关注企业的环境绩效吗?——来自我国重污染行业上市公司的经验证据[J].金融研究,2015,(12):97-112
[42] 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,2012,9(12):1856-1863.
[43] 周晖,邓舒.高管薪酬与环境绩效——基于上市公司外部治理环境的视角[J].上海财经大学学报,2017,19(5):27-39.
[2] Hirsch,P.M.Review Essay:Sociology without Social Structure:Neo-institutional Theory Meets Brave New World[J].American Journal of Sociology,1997,6(102):1702-1723.
[3] 毕茜,彭珏,左永彦.环境信息披露制度、公司治理和环境信息披露[J].会计研究,2012,(7):39-47,96.
[4] 林润辉,谢宗晓,李娅,等.政治关联、政府补助与环境信息披露——资源依赖理论视角[J].公共管理学报,2015,12(2):30-41,154-155.
[5] 沈洪涛,冯杰.舆论监督、政府监管与企业环境信息披露[J].会计研究,2012,(2):72-78,97.
[6] 李强,李恬.产品市场竞争、环境信息披露与企业价值[J].经济与管理,2017,31(4):68-76.
[7] 王建明.环境信息披露、行业差异和外部制度压力相关性研究——来自我国沪市上市公司环境信息披露的经验证据[J].会计研究,2008,(06):54-62,95.
[8] 肖华,张国清,李建发.制度压力、高管特征与公司环境信息披露[J].经济管理,2016,38(3):168-180.
[9] 李银香,汪洁.外部制度压力、公司治理与环境信息披露[J].财会通讯,2017,(23):42-44.
[10] 王霞,徐晓东,王宸.公共压力、社会声誉、内部治理与企业环境信息披露——来自中国制造业上市公司的证据[J].南开管理评论,2013,16(2):82-91.
[11] 姚圣,周敏.政策变动背景下企业环境信息披露的权衡:政府补助与违规风险规避[J].财贸研究,2017,28(7):99-110.
[12] 朱新玲,李娜.企业环境信息披露行业差异研究——来自重污染行业的经验证据[J].企业经济,2017,36(8):23-29.
[13] 常凯.环境信息披露对财务绩效的影响——基于中国重污染行业截面数据的实证分析[J].财经论丛,2015,(1):71-77.
[14] 叶陈刚,王孜,武剑锋,李惠.外部治理、环境信息披露与股权融资成本[J].南开管理评论,2015,18(5):85-96.
[15] 李志斌.内部控制与环境信息披露——来自中国制造业上市公司的经验证据[J].中国人口·资源与环境,2014,24(6):77-83.
[16] Wiseman J.An Evaluation of Environmental Disclosures Made in Corporate Annual Reports[J].Accounting Organizations & Society,1982,7(1):53-63.
[17] Patten D.M.The Relation Between Environmental Performance and Environmental Disclosure:A Research Note[J].Accounting Organizations & Society,2002,27(8):763-773.
[18] 吕峻,焦淑艳.环境披露、环境绩效和财务绩效关系的实证研究[J].山西财经大学学报,2011,33(1):109-116.
[19] Al-Tuwaijri S.A.,Christensen T.E.,Ii K.E.H.The Relations Among Environmental Disclosure,Environmental Performance,and Economic Performance:A Simultaneous Equations Approach[J].Accounting Organizations & Society,2004,29(5-6):447-471.
[20] Clarkson P.M.,Li Y.,Richardson G.D.,et al.Revisiting the Relation between Environmental Performance and Environmental Disclosure:An Empirical Analysis[J].Accounting Organizations & Society,2008,33(4-5):303-327.
[21] Cho C.H.,et al.Corporate Disclosure of Environmental Capital Expenditures:A Test of Alternative Theories[J].Accounting,Auditing & Accountability Journal,2012,25(3):486-507.
[22] Dawkins C.E.,Fraas J W.Erratum to:Beyond Acclamations and Excuses:Environmental Performance,Voluntary Environmental Disclosure,and the Role of Visibility[J].Journal of Business Ethics,2011,(99):383-397.
[23] Meng X.H.,et al.The Relationship between Corporate Environmental Performance and Environmental Disclosure:An Empirical Study in China[J].Journal of Environmental Management,2014,145(12):357-367.
[24] 沈洪涛,黄珍,郭肪汝.告白还是辩白——企业环境表现与环境信息披露关系研究[J].南开管理评论,2014,17(2):56-63,73.
[25] Jaggi B.P.Y.Low.Impact of Culture,Market Forces,and Legal System on Financial Disclosure[J].The International Journal of Accounting,2000,35(4):495-519.
[26] Schultz M.,T.J.Lopez.The Impact of National Influence on Accounting Estimates:Implications for International Accounting Standard-setters[J].The International Journal of Accounting,2001,36(3):271-290.
[27] Zarzeski M.T.Spontaneous Harmonization Effects of Culture and Market Forces on Accounting Disclosure Practices[J].Accounting Horizons,1996,10(1):18-37.
[28] Hope O.K.Firm-level Disclosures and the Relative Roles of Culture and Legal Origin[J].Journal of International Financial Management & Accounting,2003,14(3):218-248.
[29] 肖华,李建发,张国清.制度压力、组织应对策略与环境信息披露[J].厦门大学学报(哲学社会科学版),2013,(3):33-40.
[30] Tsakumis G.T.The Influence of Culture on Accountants' application of Financial Reporting Rules[J].Abacus,2014,43(1):27-48.
[31] Magness V.Strategic Posture,Financial Performance and Environmental Disclosure:An Empirical Test of Legitimacy Theory[J].Accounting Auditing & Accountability Journal,2011,19(4):540-563.
[32] Denis Cormier,Michel Magnan,Barbara Van Velthoven.Environmental Disclosure Quality in Large German Companies:Economic Incentives,Public Pressures or Institutional Conditions?[J].European Accounting Review,2005,14(1):3-39.
[33] Guthrie J.,Parker L.D.Corporate Social Disclosure Practice:A Comparative International Analysis[J].Advances in Public Interest Accounting,1990,3(2):159-176.
[34] Waddock,S.A.,Graves,S.B.The Corporate Social Performance-Financial Performance Link[J].Strategic Management Journal,1997,18(4):303-319.
[35] Liu X.,Anbumozhi V.Determinant Factors of Corporate Environmental Information Disclosure:An Empirical Study of Chinese Listed Companies[J].Journal of Cleaner Production,2009,17(6):593-600.
[36] Russo,M.V.,Fouts,P.A.A Resource-based Perspective on Corporate Environmental Performance and Profitability[J].The Academy of Management Journal.1997,40 (3):534-559.
[37] 吴红军.环境信息披露、环境绩效与权益资本成本[J].厦门大学学报(哲学社会科学版),2014,(3):129-138.
[38] 冯巧根.战略管理会计中的文化管理[J].财会学习,2008,(2):17-22.
[39] 帕特·乔恩特,马尔科姆·华纳.跨文化管理[M].卢长怀,等译.大连:东北财经大学出版社,1999:193-216.
[40] 温素彬.基于可持续发展战略的财务管理目标:理论框架与现实证据[J].管理学报,2010,7(12):1857-1862.
[41] 黎文靖,路晓燕.机构投资者关注企业的环境绩效吗?——来自我国重污染行业上市公司的经验证据[J].金融研究,2015,(12):97-112
[42] 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,2012,9(12):1856-1863.
[43] 周晖,邓舒.高管薪酬与环境绩效——基于上市公司外部治理环境的视角[J].上海财经大学学报,2017,19(5):27-39.