Research On The Correlation Between Enterprise Environmental Performance And Financial Performance

In recent years, with China’s rapid economic development, the attendant environmentalproblems, PM2.5and haze has been paid more and more attention. The expense of theenvironment to economic development is not feasible, rapid economic growth while protectingthe natural environment is the only way to sustainable development direction. What is therelationship between corporate environmental performance and financial performance, and howto make the maximization of enterprise value and give consideration to the social responsibilityof environmental protection, is the imminent problem. Therefore, has the profound significanceof the relationship of the two.This article unifies the domestic and foreign literature, the sustainable development theory,stakeholder theory, empirical analysis and case analysis of the theory of social responsibilitytheory. This paper selects the national industrial enterprises above designated size as samples, anenvironmental index system from the two aspects of input and output in the industrial energyconsumption and waste emissions. Using the principal component analysis of two aspects ofenvironmental indicators, identify the most representative of the environmental performanceindicators. Finally, through the analysis of2008-2012in30different provinces panel data ofdifferent variables empirical, obtains the relationship between environmental performance andfinancial performance, and draws the conclusion: the positive negative environmentalperformance and financial performance by the representative of industrial energy consumptionand waste emissions related, namely environmental performance and financial performance isnegatively related to. The paper also takes Heilongjiang province2001-2010ten years ofenvironmental and financial situation as a case, from the analysis of the two trends brieflybetween the two, and drawn to coal use accounted for the ratio to measure the environmentalperformance and to the total industrial output value and return on equity to measure the financialperformance is positively related to relationship. It appears from the present situation of ourcountry, the overall environmental performance and financial performance is temporarily unableto achieve a win-win situation. But some studies from developed countries can be seen, goodenvironmental performance from a long-term perspective, reputation can bring the enterprisebetter and visibilityso as to improve its financial performance. The research on China’s environmental performance has just started, in the environmental performance and financialperformance can not win win at the same time, the government should improve the sustainabledevelopment strategy and the implementation of appropriate rewards and punishment, makes theenterprise to improve the relationship between environmental performance and financialperformance at the same time to accept the punishment, give business confidence, arouse theenthusiasm of enterprise consciously Protect environment.