【作者】 李茜；

【导师】 阚立娜；

【作者基本信息】 陕西科技大学 ， 会计学， 2025， 硕士

【摘要】 企业作为国民经济高质量发展的核心载体,是实现“双碳”战略与绿色转型的关键主体。党的二十大报告明确作出“推动经济社会发展绿色化、低碳化”的战略部署,在此背景下,《环境信息依法披露制度改革方案》等政策构建起强制性与透明度并重的环境信息披露制度体系。这一制度通过双重机制发挥治理效能,在操作层面,通过量化披露环境关键指标,将环境管理纳入战略决策框架,系统性地提升环境合规水平。在市场层面,借助媒体监督、分析师解读等外部力量,将环境数据转化为可验证的投资评估参数,形成披露质量与竞争优势的正向循环。开展环境信息披露对财务风险的影响研究,不仅能为企业建立环境与财务协同治理机制提供理论支撑,还可为政府部门制定差异化的披露标准提供政策参考,最终推动环境效益与经济效益的协同提升。本文从内部控制与外部监督双重视角出发,以2016-2023年披露环境信息的企业为研究对象,探讨环境信息披露对企业财务风险的影响以及内部控制、媒体关注及分析师关注对二者关系的调节作用。研究结果表明:(1)环境信息披露能够显著降低企业财务风险的发生。(2)内部控制与外部监督能够进一步强化环境信息披露对财务风险的负向影响,即内部控制、媒体关注及分析师关注在其中发挥着负向的调节作用。(3)在市场化程度高、东部地区、非国企和重污染行业样本中,环境信息披露对财务风险的抑制作用更为显著。综上,本文提出以下政策建议:企业层面应增强环境信息披露意识,提高环境风险管理能力。同时,优化内控体系结构,建立财务风险内控指标与警示机制。积极配合外部监督,综合各方反馈提升财务风险的应对能力;政府层面应加强宣传教育,多种渠道普及环境信息披露重要性,提升企业的重视程度。制定强制性法规,明确披露的义务与规范,为企业提供针对性的培训与指导。推行激励机制,对优质披露企业给予政策支持或荣誉表彰。此外,加强政企合作,搭建沟通交流平台,促进企业界经验分享与合作,共同提升环境信息披露水平,推动企业履行可持续发展和环境保护责任。更多还原

【Abstract】 As the core carrier of high-quality national economic development,enterprises are key players in achieving the "dual carbon" strategy and green transformation.The report to the 20th National Congress of the Communist Party of China has clearly made a strategic deployment to "promote the green and low-carbon development of the economy and society".Against this background,policy documents such as the Reform Plan for the Compulsory Environmental Information Disclosure System have established a governance system for environmental information disclosure that emphasizes both compulsoriness and transparency.This system exerts its governance efficacy through a dual mechanism:at the operational level,it systematically improves environmental compliance by quantifying and disclosing key environmental indicators,thereby integrating environmental management into the strategic decision-making framework.At the market level,it leverages external forces such as media supervision and analyst interpretation to transform environmental data into verifiable investment evaluation parameters,forming a positive cycle between disclosure quality and competitive advantage.Studying the impact of environmental information disclosure on financial risks can not only provide a theoretical basis for enterprises to establish a collaborative governance mechanism for environmental and financial management but also offer policy references for government departments to formulate differentiated disclosure standards,ultimately promoting the coordinated improvement of environmental and economic benefits.This paper takes a dual perspective of internal control and external supervision,using data from enterprises that disclosed environmental information between 2016 and 2023 as the research sample,to explore the impact of environmental information disclosure on corporate financial risks and the moderating effects of internal control,media attention,and analyst attention on this relationship.The research findings are as follows:(1)Environmental information disclosure can significantly reduce the occurrence of corporate financial risks.(2)Internal control and external supervision further strengthen the negative impact of environmental information disclosure on financial risks,meaning that internal control,media attention,and analyst attention play a negative moderating role in this relationship.(3)In samples with high marketization levels,located in eastern regions,non-state-owned enterprises,and heavy-pollution industries,the inhibitory effect of environmental information disclosure on financial risks is more significant.In summary,this paper proposes the following policy recommendations:At the enterprise level,companies should enhance their awareness of environmental information disclosure and reduce overall financial risks through effective environmental risk management.Meanwhile,they should optimize the internal control system structure,establish internal control indicators and early warning mechanisms for financial risks,and actively cooperate with external supervision to improve their ability to respond to financial risks by integrating feedback from various parties.At the government level,efforts should be made to strengthen publicity and education,popularize the importance of environmental information disclosure through multiple channels,and enhance enterprises’ attention to it.Mandatory regulations should be formulated to clarify the obligations and norms of disclosure,provide targeted training and guidance for enterprises,and implement incentive mechanisms to grant policy support or honorary commendations to enterprises with high-quality disclosures.In addition,government-enterprise cooperation should be strengthened to build communication and exchange platforms,promote experience sharing and collaboration among enterprises,jointly improve the level of environmental information disclosure,and urge enterprises to fulfill their responsibilities for sustainable development and environmental protection.更多还原