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以2012-2013年348家沪市上市企业为研究对象,运用内容分析法探究了不同企业特征下,环境关注度与企业价值的相关性,依据企业特征提出了环境政策建议。结论表明,环境关注度与企业价值显著负相关时的企业特征为:对于东部地区、盈利能力较高的非重污染非国有绝对控股企业,以及东部地区盈利能力较低的重污染企业,前者环境关注度较低而企业价值较高,后者则相反。但对多数企业而言,环境关注度与企业价值相关性不显著。基于CSR报告和实证结果,政府应通过节能标准、清洁生产机制、绿色产品创新、环境财政等途径支持非重污染企业、盈利能力较低的重污染企业和中西部企业提升环境关注度与企业价值。
Taking the 348 Shanghai listed companies from 2012 to 2013 as the research object, this paper uses content analysis to explore the correlation between environmental concerns and enterprise value under different characteristics of enterprises, and puts forward environmental policy recommendations based on the characteristics of enterprises. The conclusion shows that the characteristics of enterprises with a significant negative correlation between environmental concerns and corporate value are as follows: For the non-heavily-controlled non-state-controlled absolute holding enterprises with higher profitability in the eastern region and the heavily polluting enterprises with lower profitability in the eastern region, the former environment Less attention and higher corporate value, the latter is the opposite. However, for most enterprises, there is no significant correlation between environmental concern and enterprise value. Based on the CSR report and empirical results, the government should support non-heavily polluting enterprises, heavily-polluting enterprises with lower profitability and central and western enterprises to enhance environmental concerns and business value through energy efficiency standards, cleaner production mechanisms, green product innovation and environmental finance .