The Impact Of Climate Change On The Financial Performance Of A-share Listed Companies In China's Construction Industry

Construction industry as a pillar industry of our country,the drive of the country's GDP growth,because involves a large number of outdoor construction,the construction industry is heavily dependent on the weather conditions,is closely related to the various meteorological elements,along with climate change affect the scope and degree of deepening,the performance of construction companies is inevitably affected,while the current study focused on climate change and energy consumption of building enterprise construction project,the influence of the enterprise performance affected by climate change research is still in the preliminary stage,the subject of this paper is relatively new.This article selects the Shanghai and shenzhen two city construction industry of 93 a-share listed companies from 1992 to 2017,the data as the research sample,in order to return on equity measures the construction industry as the a-share listed company financial performance indicators,select the air humidity,sunshine duration,average temperature,rainfall,as explained variable,enterprise scale,the fixed number of year of the asset-liability ratio and listed as control variable,the year of listed as virtual variables,multiple linear regression model is established for empirical research.Descriptive statistical analysis,multicollinearity test,correlation analysis,etc.were performed on the data,and the model robustness was further tested by using the return on total assets as an alternative indicator.Through empirical research,this paper concludes that the average temperature is significantly correlated with the financial performance of a-share listed companies in the construction industry,which has A positive impact on enterprise performance.Shanghai construction engineering co.,LTD.,as the largest and earliest listed construction company in China,involves a large number of construction projects and is the leading enterprise in the construction industry in Shanghai and even the whole country,with an absolute competitive advantage in the industry.Therefore,taking Shanghai construction engineering as an example,this paper firstly analyzes the financial performance of Shanghai construction engineering,and then makes a conclusion on the ability ofShanghai construction engineering to adapt to climate change and puts forward some countermeasures based on the company's strategies and solutions to climate change.Based on this research,it can provide help for the country to introduce relevant policies and provide reference for the construction enterprises to formulate strategic charter.