摘要
文章以2013—2022年我国所有A股市场中对环境敏感的工业企业为研究对象,实证检验了环境信息披露、债务融资成本和企业绩效三者之间的关系。研究发现:企业通过加强环境信息披露能够显著提升其企业绩效,二者呈现出正相关关系。同时,这种积极的信息披露行为还有助于降低企业的债务融资成本,二者之间呈现出负相关关系。并且环境信息披露不仅直接影响企业绩效,还通过影响债务融资成本这一中介变量,间接作用于企业绩效,即债务融资成本在两者关系中发挥了中介作用。
This paper takes all the environment-sensitive industrial enterprises in China's A-share market from 2013 to 2022 as the research objects,and empirically tests the relationship among environmental information disclosure,debt financing cost and corporate performance.It is found that enterprises can significantly improve their corporate performance by strengthening environmental information disclosure,and the two show a positive correlation.At the same time,such positive information disclosure behavior also helps to reduce the debt financing cost of enterprises,and the two have a negative correlation.In addition,environmental information disclosure not only directly affects corporate performance,but also indirectly affects corporate performance by influencing debt financing cost,an intermediary variable.That is,debt financing cost plays an intermediary role in the relationship between the two.
作者
孔凡光
曾婷
KONG Fanguang;ZENG Ting(Shenyang Ligong University,Shenyang 110159,China)
出处
《商业观察》
2025年第8期37-41,共5页
BUSINESS OBSERVATION
关键词
环境信息披露
债务融资成本
企业绩效
environmental information disclosure
debt financing cost
enterprise performance
作者简介
孔凡光(2001-),男,硕士研究生,研究方向:财务管理理论与实务;通信作者:曾婷(1972-),女,副教授,研究方向:财务管理理论与实务、企业会计理论。
