华东经济管理
華東經濟管理
화동경제관리
East China Economic Management
2014年
2期
85~90
,共null页
低碳政策 低碳行为 市场反应 股东价值
低碳政策 低碳行為 市場反應 股東價值
저탄정책 저탄행위 시장반응 고동개치
low-carbon policy;low-carbon behavior;market reaction;shareholders＇value
结合我国低碳政策背景，实证检验了我国企业低碳行为与股东价值的关系，研究发现：总体而言我国企业低碳行为有利于股东价值的提升，环境敏感行业的低碳行为与股东价值的关系更显著，但是与被动的低碳行为相比，主动低碳行为并来获得更大的股东价值。这表明我国政府制定的低碳政策取得了一定的效果，但是还需要进一步培育低碳产品需求、明确碳交易或碳税等低碳政策，从而使企业主动低碳行为获得应有的更大市场回报。
結閤我國低碳政策揹景，實證檢驗瞭我國企業低碳行為與股東價值的關繫，研究髮現：總體而言我國企業低碳行為有利于股東價值的提升，環境敏感行業的低碳行為與股東價值的關繫更顯著，但是與被動的低碳行為相比，主動低碳行為併來穫得更大的股東價值。這錶明我國政府製定的低碳政策取得瞭一定的效果，但是還需要進一步培育低碳產品需求、明確碳交易或碳稅等低碳政策，從而使企業主動低碳行為穫得應有的更大市場迴報。
결합아국저탄정책배경，실증검험료아국기업저탄행위여고동개치적관계，연구발현：총체이언아국기업저탄행위유리우고동개치적제승，배경민감행업적저탄행위여고동개치적관계경현저，단시여피동적저탄행위상비，주동저탄행위병래획득경대적고동개치。저표명아국정부제정적저탄정책취득료일정적효과，단시환수요진일보배육저탄산품수구、명학탄교역혹탄세등저탄정책，종이사기업주동저탄행위획득응유적경대시장회보。
The paper made and empirical study on the relationship between enterprises＇low carbon behavions and sharehold-er value in the context of Chinese low-carbon policies.The study shows that in general the low-carbon behavior can in-crease sharcholders＇value.which is more positive in environmental sensitive indusries.The active low-carbon behaviors do not bring more shareholders＇value,compared to passive low-carbon behaviors.The results indicate that the low-carbon poli-cies made by Chinese government have achieved some success,but it still need to foster the demand for low-carbon prod-ucts and make the carbon rading or carbon tax policy clear in order to help the active carbon behaviors get greater market returns.
