Our country is a big country of coal resources,coal power is the same on our world today.In the period of industrialization,China's rapid economic development,the demand for coal resources with the use of an upward trend,growing rise of the coal industry has gradually developed into one of the important basis for the energy industry,the economic benefits of coal enterprises is also significantly improved.However,when the coal enterprises huge economic interests,but they ignore their environment should bear the responsibility,leading to a series of environmental problems,such as groundwater damaged,keep pushing gangue area,serious air pollution,social this public concern,and put pressure on the government,government policy and forced to make part of the coal enterprises suspend business for rectification,hindering the normal business operations,and financial performance and shareholder value companies had a negative impact.This,the coal companies began to realize the importance of environmental issues.Therefore,we choose affect the coal industry environmental performance of listed companies on the financial performance of research,on the one hand empirical environmental performance and financial performance of internal relations,on the one hand for the coal industry listed companies to better address environmental concerns,provide increased business value practical recommendations.This paper introduces the concept of corporate environmental performance,describes the meaning and the performance of financial performance,in the context of sustainable development theory,social responsibility theory and stakeholder theory to analyze the impact of environmental performance on financial performance.Then using factor analysis,instead of the original 10 environmental performance indicators for the three main components of dimensionality reduction,respectively,in units of revenue pollution emission targets,indicators of environmental management and resource recycling targets,then reviewed the financial performance of the relevant literature,carding analysis of financial performance and an alternative relevant indicators,which is total assets(ROI).On this basis,this paper selects the coal industry 2012-2014 42 listed companies as a sample,the empirical impact of environmental performance on financial performance,the results show: Impact Unit revenue pollution emission targets for financial performance was negatively correlated impact of environmental governance indicators of financial performance was a significant negative correlation,recycling of resources on financial performance indicators were positively correlated.Finally,it proposed the establishment of a government-led environmental policy incentive system,to form a business-led research and innovation to improve the environmental performance of the technical system and improve the environmental management system construction,the development of relevant indicators of environmental technology and a series of recommendations for coal industry listed companies to improve financial performance,improved environmental governance pointed out the direction. |