环境信息披露质量的经济后果研究以沪市A股重污染企业为例

摘要

以2012年沪市 A股重污染上市公司为样本，从公司融资角度，对环境信息披露质量的经济后果进行实证研究，探究环境信息披露质量对资本配置效率的影响。研究结果表明：我国重污染行业上市公司的环境信息披露质量越高，资本配置效率就越高。%In this paper,based on the Shanghai A-share listed heavily polluted companies in 2012, from the perspective of corporate finance,the environment quality of information disclosure eco-nomic consequences were studied to explore the environmental impact on the quality of informa-tion disclosure on capital allocation efficiency.The results show that in China's heavy polluting in-dustries the higher the quality of environmental information disclosure of listed companies,the higher the efficiency of capital allocation.