新闻报道、政府监管对企业碳信息披露的影响

摘要

In order to study the legitimacy motivation of enterprise carbon information disclosure,this paper selects 128 listed enterprises in heavy-pollution industries in Shanghai and Shenzhen Security Exchange Markets of China from 2009 to 2014 as the research samples,and uses the method of content analysis to empirically examine the relationship between news,administrative supervision and carbon information disclosure.Our empirical results show that the overall level of carbon information disclosure of the listed enterprises of heavy -pollution industries in China is lower;the news is positively related with enterprise carbon information disclosure at the significance of 5% level;the administrative supervision is positively related with enterprise carbon information disclosure at the confidence of 10% level;the news weakens the positive relationship between the administrative supervision and enterprise carbon information disclosure,and the administrative supervision weakens the positive relationship between the news and enterprise carbon information disclosure;news and administrative supervision have significant impacts on enterprise carbon information disclosure in heavy-pollution industries in China and exhibit a periodic trend.This paper provides a new perspective from news and administrative supervision to study the legitimacy motivation of carbon information disclosure and enriches the empirical research literatures of carbon information disclosure.%为了揭示企业碳信息披露的合法性动机，结合2009—2014年中国重污染行业沪深128家上市企业的相关数据，采用内容分析法，实证检验了新闻报道、政府监管与企业碳信息披露水平的关系。研究结果表明，中国重污染行业上市企业的碳信息披露水平总体上较低；新闻报道与企业碳信息披露水平呈显著正相关关系；政府监管与企业碳信息披露水平呈显著正相关关系；新闻报道弱化了政府监管对企业碳信息披露水平的促进作用，政府监管也弱化了新闻报道对企业碳信息披露水平的促进作用；新闻报道和政府监管对我国重污染行业企业碳信息披露水平的影响具有周期性变化的趋势。研究结论提供了从新闻报道和政府监管的新视角研究企业碳信息披露的合法性动机，丰富了碳信息披露的实证研究文献。