【作者】 李媛；

【导师】 陆奇岸；

【作者基本信息】 广西师范大学 ， 企业管理， 2019， 硕士

【摘要】 随着信息技术的发展和互联网的全面覆盖,媒体在公众的生活中扮演着信息的传递者的重要角色,媒体报道对市场经济的影响也愈发重要。我国环境污染日益严重,作为污染的主要制造者——重污染行业,需要受到政府、市场以及公众的共同监督,企业进行社责任承担的行为也成为研究焦点之一。本文从企业内部、外部的公司治理结构出发,研究媒体压力、政治关联与企业环境保护投资的深入关系。本文基于组织合法性理论、资源依赖理论与声誉理论,研究不同的市场发展水平地区中,媒体压力对重污染企业环境保护投资的影响及差异性,并探讨政治关联与媒体压力的交互作用对其影响。本文首先对我国媒体与环境保护的制度背景进行梳理,构建了媒体压力对企业环保投资的关系理论分析框架。其次,采用2014-2016年我国深沪上市的重污染行业作为研究样本,采用多元回归分析方法对媒体压力与企业环境保护投资的关系进行实证检验,并将样本所在地的市场化程度分为高市场化水平组与低市场化水平组,分别检验不同地区的媒体压力对企业环保投资的差异性影响。然后引入政治关联因素,探究外部舆论压力对政治身份的企业高管的环保投资行为的影响。实证研究发现:(1)我国重污染企业上市公司的环保投资整体偏低,且差异显著。(2)媒体压力对企业环保投资总体呈负向影响,政治关联对企业环保投资影响不显著。(3)媒体压力对企业环保投资在不同市场化程度下有不同作用,具体表现为市场化程度低的地区,媒体压力越大,企业环保投资越高;市场化程度高的地区,媒体压力越大,企业环保投资越低。(4)市场化程度低的地区,媒体压力与政治关联的交互作用显著促进企业环保投资,在市场化程度高的地区,其交互作用不显著。最后,根据上述研究结论,本文认为应当对媒体压力适当的加强与管理、加强政企交往的关系、完善环境法规体系和提高企业社会责任信息的透明度、优化媒体对企业信息披露的监督环境。本文拓展了企业环境保护投资因素的范围,丰富了媒体监督的外部公司治理研究,能够为强化外部监督、提高企业环境保护重视度提供政策依据。更多还原

【Abstract】 With the development of information technology and the comprehensive coverage of the Internet,the media plays an important role in the public life,and the influence of media reports on the market economy is becoming more and more important.China’s environmental pollution is becoming more and more serious.As a major producer of pollution,heavy pollution industry need to be jointly supervised by the government,the market and the public.The behavior of corporate social responsibility has also become one of the research focuses.This paper starts from the internal and external corporate governance structure of the enterprise,and studies the deep relationship between media pressure,political connection and environmental investment.Based on the theory of organizational legitimacy,resource dependence theory and reputation theory,this paper studies the influence and difference of media pressure on environmental investment of heavy pollution enterprises in different market development level areas,and discusses the interaction between political connection and media pressure and how it works.This paper firstly sorts out the institutional background of China’s media and environmental protection,and constructs a theoretical analysis framework for the relationship between media pressure and corporate environmental protection investment.Secondly,using the heavy pollution industry listed in Shenzhen and Shanghai in 2014-2016 as a research sample,the multiple regression analysis method is used to empirically test the relationship between media pressure and corporate environmental protection investment,and the marketization degree of the sample location is divided into marketization.The high level group and the low market level group respectively test the differential impact of media pressure in different regions on corporate environmental protection investment.Then introduce political correlation factors to explore the impact of external public opinion pressure on the environmental investment behavior of corporate executives with political identity.The empirical research found that:(1)The environmental protection investment of listed companies in China’s heavily polluting enterprises is generally low,and the difference is significant.(2)Media pressure has a negative impact on corporate environmental protection investment,and political influence has no significant impact on corporate environmental protection investment.(3)Media pressure has different effects on corporate environmental protection investment in different marketization levels.The specific performance is in areas with low marketization.The greater the media pressure,the higher the environmental protection investment of enterprises;the higher the marketization,the more the media pressure Large,the lower the investment in corporate environmental protection.(4)In areas with low marketization,the interaction between media pressure and political connection significantly promotes corporate environmental protection investment.In areas with high marketization,the interaction is not significant.Finally,based on the above research conclusions,this paper believes that media pressure should be appropriately strengthened and managed,the relationship between government and enterprises should be strengthened,the environmental law system should be improved,the transparency of corporate social responsibility information should be improved,and the media’s supervision environment for corporate information disclosure should be optimized.This paper expands the scope of environmental investment factors,enriches the external corporate governance research of media supervision,and provides policy basis for strengthening external supervision and improving the importance of corporate environmental protection.更多还原