文献类型：期刊文献

中文题名：碳信息自愿性披露对企业融资约束影响研究——基于产权异质性视角的分析

英文题名：Research on the Influence of Carbon Information Voluntary Disclosure on Corporate Financing Constraint——Based on the heterogeneity of property rights

作者：陈华[1];黄红梅[2];李春玲[1]

第一作者：陈华

机构：[1]北京联合大学商务学院;[2]中交第三公路工程局有限公司

第一机构：北京联合大学商务学院

年份：2017

卷号：0

期号：9

起止页码：136-139

中文期刊名：价格理论与实践

外文期刊名：Price:Theory & Practice

收录：CSTPCD;;国家哲学社会科学学术期刊数据库;北大核心:【北大核心2014】；CSSCI:【CSSCI_E2017_2018】；

基金：国家社科基金一般项目(15BGL059);北京市哲学社会科学规划办一般项目(16YJB015);北京联合大学新起点计划项目(SK10201505);北京联合大学人才强校优选计划项目资助(BPHR2017CS07)

语种：中文

中文关键词：碳信息自愿性披露;融资约束;透明效应;柠檬效应

外文关键词：Carbon information voluntary disclosure;Financing constraints;Transparency effect;Lemon effect

摘要：本文以2014-2016深沪重污染行业上市公司为样本,研究碳信息自愿性披露对企业融资约束的影响。从全样本看,上市公司碳信息自愿披露质量与融资约束显著正相关,具备典型"柠檬效应"特点,即目前碳信息自愿性披露程度低,可鉴证性差,不能缓解企业融资约束;从产权性质分样本看,相对于民企,国企碳信息披露与融资约束的"柠檬效应"更为显著。
Based on the samples of the polluting industry enterprises listed in Shanghai and Shenzhen Stock Exchanges in 2013-2014,this paper examines the effects of voluntary disclosure carbon information on financing constraints,it is transparency effect or lemon effect.The result show：There is significantly positive correlation between carbon information voluntarily disclosed by listed companies and financing constraints as a whole,which accords with ＂lemon effect＂,namely the quality of voluntary disclosure carbon information is low and voluntary disclosure carbon information can not reduce financing constraints. From the point of view of property right,The quality of voluntary carbon information disclosure of state-owned listed companies is better, and the financing constraints of these companies are more serious, which shows a significant ＂lemon effect＂.