碳信息披露、碳业绩与资本成本

被引：135

作者：

何玉

唐清亮

王开田

机构：

[1] 南京财经大学会计学院

[2] 西悉尼大学商学院

来源：

会计研究 | 2014年 / 01期

关键词：

碳信息披露; 碳业绩; 资本成本; 联立方程;

D O I：

暂无

中图分类号：

X196 [环境经济学]; F233 [会计工作组织与制度]; F224 [经济数学方法];

学科分类号：

02 ; 0201 ; 020106 ; 1202 ; 120201 ; 0701 ; 070104 ;

摘要：

为应对气候变化挑战,越来越多企业自愿披露碳信息。本研究考察碳信息披露、碳业绩与资本成本之间关系。利用联立方程模型和标准普尔500企业样本,我们发现:资本成本与碳信息披露负相关,这符合自愿披露理论预测。而且,对于碳业绩好的企业,这个负相关关系更弱。我们还发现,碳信息披露与碳业绩负相关,这与合法性理论预测一致。研究表明,碳信息披露是企业的理性选择。企业披露碳信息旨在减轻合法性压力,降低资本成本。

引用

页码：79 / 86+95 +95

页数：9

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