董事会异质性、企业绩效与碳信息披露——基于造纸业上市公司的实证研究

借助董事会异质性与企业绩效视角考察碳信息披露的影响因素,结合威胁刚性理论检验企业绩效是否产生调节效应。统计2012-2017年造纸行业样本数据,研究结果显示:董事会性别、任期和教育异质性显著作用于碳信息披露,且前两者具有抑制功能,后者具有促进功能;企业绩效对碳信息披露水平产生负向影响,而对董事会异质性作用不产生正向调节效应。研究结论可以指引企业调整董事会架构、改善碳信息披露现状,亦可以拓宽企业绩效作用解析思路、丰富相关经验证据。

Board Heterogeneity,Firm Performance and Carbon Disclosure——Based on the Empirical Data of the Listed Papermaking Companies

This paper examined the influencing factors of carbon disclosure through the perspective of board heterogeneity and firm performance, and combines the threat rigidity theory to test whether firm performance has an adjustment function. Based on the sample data of the papermaking industry from 2012 to 2017, the study results showed that board gender, tenure and educational heterogeneity significantly affect carbon disclosure, and the former two have inhibitory functions, while the latter have a promotion function;firm performance has a negative effect on carbon disclosure, but it has no significant positive adjustment effect on board heterogeneity. The study conclusions help papermaking companies adjust the board structure to improve current status of carbon disclosure, and also broaden the analysis of firm performance effect to enrich relevant empirical evidence.