【摘要】：當前，全社會大力提倡低碳經(jīng)濟與可持續(xù)發(fā)展，推行節(jié)能減排措施。如何有效抑制企業(yè)的環(huán)境污染行為，敦促企業(yè)自覺加大環(huán)境保護力度，自愿披露環(huán)境信息成為政府工作的主要任務之一。利用銀行貸款督促企業(yè)披露環(huán)境信息，，是政府推進環(huán)境信息公開采取的一項措施。這項政策的實施效果如何成為政府和公眾的關(guān)注熱點。因此,本文對債務融資與環(huán)境信息披露質(zhì)量進行研究具有現(xiàn)實意義,不僅可以檢驗這項政策的執(zhí)行情況，也可以為政策的改進提供經(jīng)驗證據(jù)。 為提高研究效果的可靠性，本文對各上市公司所在區(qū)域的市場化程度進行劃分，研究不同市場化水平下債務融資與環(huán)境信息披露質(zhì)量的關(guān)系，旨在探究現(xiàn)行的政策是否得到有效的貫徹落實。本文首先對國內(nèi)外研究現(xiàn)狀進行回顧，指出研究中存在的不足，在總結(jié)前人研究的基礎(chǔ)上，提出本文的研究重點與思路。其次，本文從可持續(xù)發(fā)展理論、外部經(jīng)濟性理論、信息不對稱理論三方面闡述環(huán)境信息披露的理論動機。最后，本文構(gòu)建環(huán)境信息披露質(zhì)量的評價體系，以2010-2012年石化塑膠行業(yè)上市公司為樣本，采用多元線性回歸的方法分析不同市場化進程地區(qū)債務融資與環(huán)境信息披露質(zhì)量相關(guān)性的差異。 本文的研究發(fā)現(xiàn)我國石化塑膠行業(yè)總體披露水平參差不齊，披露內(nèi)容缺乏規(guī)范性與統(tǒng)一性；各地區(qū)市場化發(fā)展不平衡；資產(chǎn)負債率、銀行借款比例、長期借款比例均與環(huán)境信息披露質(zhì)量正相關(guān)，并且這種相關(guān)性在高市場化地區(qū)比低市場化地區(qū)更顯著；商業(yè)信用比例與環(huán)境信息質(zhì)量的負相關(guān)關(guān)系在低市場化地區(qū)比高市場化地區(qū)更明顯，但在全樣本中不存在明顯的負相關(guān)關(guān)系；短期借款比例與環(huán)境信息披露質(zhì)量不存在顯著的負相關(guān)關(guān)系。因此，本文建議大力推進環(huán)境信息報告的編制，加快落后地區(qū)市場化進程的建設(shè)，縮小各地區(qū)市場化水平差異，繼續(xù)推行信貸推動環(huán)境信息披露的政策以督促企業(yè)自愿披露環(huán)境信息，提高環(huán)境保護意識。
[Abstract]:At present, the whole society vigorously advocates low-carbon economy and sustainable development, and promotes energy saving and emission reduction measures. How to effectively restrain the environmental pollution behavior of enterprises, urge enterprises to consciously increase environmental protection, voluntary disclosure of environmental information has become one of the main tasks of government work. It is a measure taken by the government to promote the disclosure of environmental information by using bank loans to supervise enterprises to disclose environmental information. How to implement this policy has become the focus of attention of the government and the public. Therefore, it is of practical significance to study the quality of debt financing and environmental information disclosure, which can not only test the implementation of this policy, but also provide empirical evidence for the improvement of the policy. In order to improve the reliability of the research effect, this paper divides the marketization degree of each listed company's region, studies the relationship between debt financing and the quality of environmental information disclosure under different marketization levels, in order to explore whether the current policy has been effectively implemented. Firstly, this paper reviews the research status at home and abroad, points out the shortcomings of the research, and on the basis of summing up the previous studies, puts forward the research focus and ideas of this paper. Secondly, this paper expounds the theoretical motivation of environmental information disclosure from three aspects: sustainable development theory, external economy theory and information asymmetry theory. Finally, this paper constructs an evaluation system of environmental information disclosure quality, taking listed companies in petrochemical plastic industry from 2010 to 2012 as samples, using multiple linear regression method to analyze the correlation between debt financing and environmental information disclosure quality in different marketization processes. In this paper, it is found that the overall disclosure level of petrochemical plastic industry in China is uneven, and the disclosure content is lack of standardization and unity; the development of marketization in various regions is unbalanced; asset-liability ratio, bank loan ratio and long-term loan ratio are positively correlated with the quality of environmental information disclosure, and this correlation is more significant in high market-oriented areas than in low-market areas. The negative correlation between commercial credit ratio and environmental information quality is more obvious in low market-oriented areas than in high market-oriented areas, but there is no obvious negative correlation between short-term loan ratio and environmental information disclosure quality, but there is no significant negative correlation between short-term loan ratio and environmental information disclosure quality. Therefore, this paper suggests that we should vigorously promote the compilation of environmental information reports, speed up the construction of marketization process in backward areas, narrow the differences in marketization level in different regions, and continue to carry out the policy of credit promoting environmental information disclosure in order to urge enterprises to voluntarily disclose environmental information and improve the awareness of environmental protection.
【學位授予單位】：南華大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F426.72;F406.7;X196

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