化工类上市公司环保投资效率影响因素研究

发布时间：2017-12-30 18:29

本文关键词：化工类上市公司环保投资效率影响因素研究　出处：《黑龙江八一农垦大学》2017年硕士论文　论文类型：学位论文

【摘要】：随着我国经济增长模式的转变和可持续发展战略的全面实施,环境问题已经受到了我国政府的高度关注。环保投资作为解决环境问题的重要环境经济政策之一,其最根本的有效途径应是提高效率而非单纯地关注规模。我国大多数学者基于宏观层面或产业、地区中观层面探讨了政府的环保投资效率问题,涉及到企业层面的环保投资效率研究较少。本文选取属于国家重点监管的化工类上市公司作为研究对象,聚焦经济产出评价上市公司当前的环保投资效率,结合企业投资的外部制度环境和内部管理环境剖析影响其环保投资效率的可能因素,以期更有针对性地激发企业自主性的有效环保投资行为。本文选取32家化工类上市公司2011~2015年的环保投资数据进行研究,以清洁生产理论、波特假说、合法性理论和环境战略管理理论为基础分析评价化工类上市公司环保投资效率的可行性及其对应的影响因素,并采用DEA方法和Tobit回归模型实证测度和检验样本公司当前的环保投资效率水平以及各影响因素的真实作用情况。结果表明:化工类上市公司当前的环保投资效率水平整体偏低,且相对于规模效率无效,纯技术效率过低对当前化工类上市公司环保投资效率状况的影响更大。化工类上市公司环保投资效率的主要影响因素中,显著促进环保投资效率提升的因素有环境污染监管强度、市场化水平、环境管理战略、股权制衡度和股权性质,其中促进作用最为明显的因素为股权性质,显著抑制环保投资效率提升的因素有股权集中度和管理层持股比例,其中抑制作用最为明显的因素为管理层持股比例。最后,基于本文的研究结论,从政府和企业两个层面提出了提高我国化工类上市公司环保投资效率的可行性建议,具体建议政府灵活运用多种环境规制工具、建立多元化的环保投资体系、加强环保教育和宣传力度,建议化工企业转变环保投资管理理念并创造条件把握当前的政策利好环境。
[Abstract]:With the full implementation of China's economic growth mode transformation and the strategy of sustainable development, environmental problems have been of great concern to the government. The environmental protection investment as an important one of the environmental economic policies to solve environmental problems, the most fundamental way is to improve the efficiency rather than simply focus on scale. Most of the scholars in China based on the macro the level of industry or area, the meso level of environmental efficiency of government investment, enterprise level relates to the efficiency of environmental protection investment research. This paper selects a key state regulation of chemical listed company as the research object, the efficiency of environmental protection investment focused on economic output evaluation of Listed Companies in the current analysis, combined with the external institutional environment and corporate investment the internal management of environmental factors that may affect the efficiency of environmental protection investment, in order to be more targeted to stimulate enterprise autonomy effectively Environmental protection investment behavior. Research on environmental investment data this paper selects 32 chemical listed companies in 2011~2015, with the theory of cleaner production, Potter hypothesis, influence factors and the corresponding feasibility legitimacy theory and strategic management theory as a foundation of chemical analysis and evaluation of the efficiency of environmental protection investment of listed companies, the real role and adopting DEA method and the Tobit regression model to measure and test the Sample Firms the efficiency of environmental protection investment level and the influencing factors. The results show that the overall low chemical companies the current efficiency of environmental protection investment level, and relative to the scale inefficiency, effects of low pure technical efficiency of current chemical companies in the greater efficiency of environmental protection investment. The main influence factors the chemical limited company of environmental protection investment efficiency, factors significantly promote the efficiency of environmental protection investment promotion environment Pollution supervision strength, the level of market environment, management strategy, equity balance degree and the nature of equity, the most obvious role in the factors of the nature of equity factors inhibit the efficiency of environmental protection investment promotion has the ownership concentration and the proportion of managerial ownership, which restrained the most significant factors for the management stake. Finally, based on the conclusions of this study, the feasible suggestions to improve China's chemical companies raised the efficiency of environmental protection investment from the two levels of government and enterprises, specific recommendations for the government to flexible use of a variety of environmental regulation tools, establish a diversified investment system of environmental protection, strengthen environmental education and propaganda, recommend chemical enterprises to change the management ideas of environmental protection investment and create conditions to grasp the current favorable policy environment.

【学位授予单位】：黑龙江八一农垦大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F224;F426.7;F406.7

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