CAJ | 학술논문

投资者的决策主要依赖于上市公司披露的信息。由于环境问题日益受到人们的关注，对重污染行业的上市公司而言，环境信息的披露质量必将影响企业价值。以我国重污染行业中上市公司为研究样本，利用“内容分析法”得出的环境信息披露指数衡量环境信息披露质量，研究环境信息披露质量与企业价值的相互关系。研究结果表明，环境信息披露质量与企业价值呈显著的正向关系，即环境信息披露质量越高，企业的价值越大。
투자자적결책주요의뢰우상시공사피로적신식。유우배경문제일익수도인문적관주，대중오염행업적상시공사이언，배경신식적피로질량필장영향기업개치。이아국중오염행업중상시공사위연구양본，이용“내용분석법”득출적배경신식피로지수형량배경신식피로질량，연구배경신식피로질량여기업개치적상호관계。연구결과표명，배경신식피로질량여기업개치정현저적정향관계，즉배경신식피로질량월고，기업적개치월대。
The decisions of investors depend on the information disclosure of listed companies.As environmental issues have become increasingly prominent,the environmental information disclo-sure quality will affect the listed heavily polluting companies′value.In order to study the rela-tionship between the quality of environment information disclosure and enterprise value,we choose heavily polluting industries listed companies as samples,and use"content analysis"of the environmental information disclosure index to measure the quality of environmental information disclosure.The results show that,there is a significantly positive correlation between the envi-ronmental information disclosure quality and enterprise value,namely the higher the quality of environmental information disclosure,the greater the value of enterprises.