市场化、债务融资与环境信息披露

当前，政府以信贷政策促进企业披露环境信息的理念初步形成，推进环境信息公开已成为政府工作的重要内容之一。论文以2010—2012年沪深石化塑胶行业A股上市公司为样本，采用相关分析、回归分析等方法对市场化、债务融资与环境信息披露进行研究，旨在探讨不同市场化地区债务融资与环境信息披露的相关性，为信贷政策的制定与落实提供经验证据。结果显示债务融资与企业的环境信息披露正相关、市场化与环境信息披露正相关，对于高市场化进程地区的企业而言，其债务融资比例与环境信息披露水平之间的正相关关系比低市场化进程地区的企业更显著。

Marketization, Debt Financing and the Disclosure of Environmental In- formation

At present, the idea of using environmental information disclosure to promote government credit policy initially formed, and promoting the disclosure of environmental information has become one of the important contents of the work of the government. This paper takes A shares of listing Corporation as a sample in Shanghai and Shenzhen Petrochemical Industry in 2010-2012, and uses correlation analysis, regression analysis and other methods to study marketization, debt financing and environmental information disclosure, discuss the relativity of debt financing and the disclosure of environmental information among different market areas to provide some empirical evidence for making credit policy and implementation. The results showed that the debt financing and corporate environmental information disclosure is positively related, marketization and the disclosure of environmental information is relevant, and for the enterprise in high marketization area , the positive relationship between the proportion of debt financing and the level of environmental information disclosure is more significant than enterprise in low marketization area.