Research On The Impact Of Consistency Of Carbon Performance And Carbon Information Disclosure On Enterprise Value

As the second largest economy in the world,China ranks first in the world for its greenhouse gas emissions and faces enormous pressure on emission reduction.Data show that manufacturing is a major energy consumption sector.Therefore,the manufacturing enterprise is the main concern of our government to vigorously control carbon emissions to fulfill the commitments of emission reduction.Now carbon management and information disclosure issues become the focus of scholars.This paper attempts to explore the influence of the consistency of carbon performance and carbon information disclosure on enterprise value,At the same time,attention should be paid to whether carbon performance and carbon information disclosure can bring value added value to enterprises so as to encourage China's manufacturing enterprises to strengthen their carbon management,proactively disclose carbon information to outside parties and enhance corporate values while fulfilling their social responsibilities.The article first carried out the previous related literature and theoretical analysis,select the index to measure the carbon performance,using the crawler to search whether or not disclosure carbon information from 2007 to 2016,then using data to study the impact of carbon performance and carbon information disclosure on firm value.At the same time,the paper choose property rights and corporate governance as the two grouping variables,to research in the enterprises,which has different property rights or corporate governance,the influence of the consistency of carbon performance and carbon information disclosure on the enterprise value.This paper takes the empirical research by the descriptive statistics,correlation analysis,multiple regression analysis method,and the empirical results are as follows:(1)the level of enterprise performance of carbon is higher,the enterprise value is greater;(2)the positive disclosure of carbon information can promote the improvement of enterprise value;(3)the consistency of corporate carbon performance and carbon information disclosure will have a more significant positive impact on the enterprise value,when companies disclose carbon information,improving carbon performance can further promote the promotion of enterprise value,and the promoting effect on high corporate governance or state-owned enterprises is more obvious.Finally,according to the empirical results,the paper offers some corresponding suggestions from the macro level of the government and the micro level of the enterprise.