【摘要】 当前，中国经济高速发展，然而环境问题却层出不穷。随着政府和公众对环保问题的日益重视，上市公司面临着不断加大的强制性披露压力，这就要求企业积极寻求环境信息披露与财务绩效的平衡。文章以2015—2019年A股的2 959家上市公司为样本，采用面板数据混合回归模型实证研究了环境信息披露水平和财务绩效的关系及滞后效应，并分析了污染性行业特征的调节作用。结果表明：环境信息披露水平和财务绩效呈显著正相关关系，污染性行业特征起到了正向调节作用。更多还原

【Abstract】 Currently, China’s economy is developing rapidly, but environmental issues have emerged endlessly. With the increasing attentions of the government and the public to environmental protection issues, listed companies are facing increasing compulsory disclosure pressure, which requires enterprises to actively seek a balance between environmental information disclosure and financial performance. The article takes 2959 A-share listed companies from 2015 to 2019 as samples and uses a mixture regression model of panel data to empirically study the relationship and lag effect between environmental information disclosure level and financial performance, and analyzes the moderating effect of polluting industry characteristics. The results show that the level of environmental information disclosure and financial performance have significantly positive correlations, and the characteristics of polluting industry have played positive adjustment roles.更多还原