Research On The Relationship Between Environmental Performance And Financial Performance

In the past 30 years,our country social economy made the development by leaps and bounds,but at the same time,the social environment has become worse,by the environmental pollution and ecological damage leads to environmental problems continue to appear,has brought serious negative influence to people’s daily life and survival,but also on the sustainable development strategy of our country hindered.Under this premise,through the continuous efforts of China’s legislative workers,"environmental protection law amendment" by the National People’s Congress review in 2014,the new environmental law formally started in January 2015.The bill is known as the history of the most stringent environmental laws,it on the sewage charges,ecological compensation and other environmental protection of some of the basic system for the specified,is put forward for the first time daily penalty punishment measures,in order to increase the cost of the environmental law.In the face of China’s environmental governance to enterprise how to balance the coordinated development of economy and society,is now facing the main problems.Under this background,the author puts forward the research on the relationship between environmental performance and corporate performance.Based on the existing literature at home and abroad,in the environmental accounting theory,stakeholder theory,sustainable development theory and the theory of corporate social responsibility,2012-2014 A shares manufacturing listing Corporation as an example,through the relevant data screening,a total of 603 sample data of 201 listing Corporation,sewage charges as a proxy variable of environmental value the performance of the unit and the sustainable growth rate and Tobin Q respectively as the financial indicators and market indicators of financial performance,and set up enterprise debt level,the development of enterprises,enterprises through certification of environmental management system and enterprise scale four control variables,the natural logarithm respectively with the ratio of liabilities to assets,operating income growth rate,ISO14001,the final assets represented by constructing model,the relationship between the two makes an empirical study.The research mainly uses Excel and SPSS20.0 statistical software to carry on the reorganization and the analysis to the data.This paper is divided into five parts.The first chapter is the introduction,which puts forward the research background,purpose,significance and research methods,and analyzes the relevant literature at home and abroad.The second chapter is the definition of the concept and related theoretical basis,this part of the first on the environmental performance and financial performance of the concept of a clear definition,followed by the introduction of the relevant theoretical basis of environmental performance.The third chapter is construction of the variable settings and model,this part based on the previous research,on environmental performance and financial performance indicators were selected,and put forward the research hypothesis of positive correlation between,and builds a regression model.The fourth chapter is the empirical research,this part mainly uses the descriptive analysis,Pearson correlation analysis and regression analysis,the correlation among variables was tested,and the conclusion of the study.The fifth part,conclusions and policy recommendations for research,this part of empirical conclusions were analyzed and summarized.And enhance the environmental performance of enterprises from two aspects of government and enterprises are put forward relevant policy recommendations.Finally,the study pointed out the limitations of this paper,and the further research gives some guidance.