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企业环境行为和环境治理责任是社会各界普遍关注的重要问题。本文以2011年年底的PM2. 5爆表事件作为外生冲击,系统地考察了企业国际化对环境治理行为的影响机理和作用机制。实证研究发现:第一,在PM2. 5爆表事件后,国际化程度高的企业的环境治理绩效更好,表现为企业环境资本投资更多。第二,PM2. 5爆表事件带来的公共压力对国际化程度高的企业的环境治理绩效的提升现象在信息透明度低、分析师跟踪少的企业,以及在民营性质、高管理层权力及行业竞争程度高的企业更为明显。
Abstract：The firm environmental management behavior and the responsibilities of the environmental governance have always been one of the attentive topics in China. With an exogenous shock caused by the case of PM 2. 5 exceeding the limit( beyond 500 micrograms/m3 of PM2. 5 concentration values) at the end of 2011,this paper observes the influence mechanism of firm globalization on environmental governance performance. By using China's A-share listed companies from 2007 to 2014 as research samples,the results show that: 1) firms with a higher degree of globalization have a better performance in environmental governance in comparison with those in lower globalization,resulting in more environmental investment,after the case happened; 2) the public pressure following the case has an obviously more impacts on the firms with higher globalization in the improvement of environmental governance than in the firms with low transparency and less follow-up by analysts. 3) in the firms with a private nature and strong competition among the high executives and the sectors,the public pressure brought up by the case has an obviously more effects in the firms with higher globalization on enhancing the environmental governance.
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(1)通常而言,正部级官员平均年龄在55岁以上,借鉴聂辉华和蒋敏杰(2011)的做法,以省长年龄超过55岁和不超过55岁分为两组,后者具有年龄优势,晋升动机更强。官员任期也是影响晋升的一个重要因素,本文以任期5年为界限分为两组,同时,官员晋升时往往会考虑在下一级别岗位任期的年限。
基本信息:
DOI：10.19343/j.cnki.11-1302/c.2018.09.005
中图分类号:F270;X322
引用信息:
[1]程博,许宇鹏,李小亮.公共压力、企业国际化与企业环境治理[J].统计研究,2018,35(09):54-66.DOI:10.19343/j.cnki.11-1302/c.2018.09.005.
基金信息:
国家自然科学基金面上项目“企业环境绩效、公司治理与公司价值关系研究”(71462032);国家自然科学基金面上项目“跨组织管理控制系统的导因、机制及业绩后果研究”(71272013);; 浙江农林大学暨阳学院人才启动项目“制度环境、公司治理与企业财务会计行为”(JY2018RC01)的资助
2018-09-25
2018-09-25