环境信息披露质量与银行信贷决策--来自我国沪深两市A股重污染行业上市公司经验证据 |
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引用本文: | 倪娟. 环境信息披露质量与银行信贷决策--来自我国沪深两市A股重污染行业上市公司经验证据[J]. 财经论丛, 2016, 0(3): 37-45. DOI: 10.3969/j.issn.1004-4892.2016.03.005 |
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作者姓名: | 倪娟 |
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作者单位: | 中南财经政法大学会计学院,湖北武汉,430073 |
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基金项目: | 国家社会科学重大项目(11&ZD044);国家社会科学基金项目(15BJL058、11CJY012) |
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摘 要: | 本文以沪深两市A股重污染行业2012-2013年上市公司为样本,实证考察我国重污染行业上市公司环境信息披露质量与银行信贷决策两者之间的相互关系。研究发现:重污染行业上市公司环境信息披露质量越高,可获得的银行借款越多。进一步研究发现,环境信息披露质量对重污染行业上市公司短期银行借款的影响更为显著,对长期银行借款的影响则较弱。研究证实,重污染行业上市公司提高环境信息披露质量有助于企业获取更多的银行借款,尤其是短期银行借款。
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关 键 词: | 环境信息披露质量 银行信贷决策 重污染行业 债务期限 |
Environmental Information Disclosure Quality and Bank Credit Decisions:Evidence from the Listed Heavy Polluting Industries of A-shares in Shanghai Stock Market and Shenzhen Stock Market |
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Abstract: | Using samples of all listed heavy polluting industries of A-shares during the period of 2012-2013 in Shanghai Stock Market and Shenzhen Stock Market, this paper studies the impact of environmental information disclosure quality on bank credit decisions.Results show that the higher environmental information disclosure quality the listed heavy polluting in-dustries have, the more bank borrowings they can get.Further study reveals that environmental information disclosure quality has more influence on short-term bank borrowings, and less influence on long-term bank borrowings.This paper confirms that the improvement of environmental information disclosure quality of listed heavy pollution industries can help them get more bank borrowings, especially short-term bank borrowings. |
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Keywords: | environmental information disclosure quality bank credit decisions heavy polluting industries debt maturity |
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