公共压力与自愿性碳信息披露——基于2008-2013年CDP中国报告的实证研究

Public Pressure and Voluntary Carbon Information Disclosure ——Empirical Research Based on CDP reports on China from 2008 to 2013

摘要:

以2008年-2013年CDP中国报告涉及的上市公司为样本,实证检验公共压力对于自愿性碳信息披露水平的影响程度,研究结果发现：(1)上市公司自愿性碳信息披露水平偏低,碳信息披露程度存在显著差异,节能减排目标与碳排放数据等关键披露内容存在缺失；(2)政府压力中的行业属性和股东压力中的控股股东持股比例、社会压力中的媒体关注度和媒体倾向性能够显著促进自愿性碳信息披露水平；(3)控股股东性质与外资持股比例虽然通过显著性检验,但系数符号与预期相反,银行贷款率和机构持股者持股比例对自愿性碳信息披露的影响不显著。

Abstract:

This paper empirically examined the impact of public pressure to voluntary carbon information disclosure with CDP reports on China listed companies from 2008 to 2013 as samples. The results show that, (1) the level of voluntary carbon information disclosure of listed company is low, There is significant difference in the degree to voluntary carbon information disclosure, and the deficiency in the key content of disclosure between the goals of energy-saving and emission-reduction; (2) Industry attributes of government pressure and the controlling shareholder stocks’ proportion of shareholder pressure, media exposure and biased media of social pressure significantly affect the level of voluntary carbon information disclosure; (3) The shareholder property and foreign shareholdings’ proportion have a reverse impact to voluntary carbon disclosure appreciably, and the pressure from creditors and institutional investors do not affect it .