The Empirical Research On Relationship Between Carbon Accounting Information Disclosure And Financing Ability

The economic activity has caused many social and environmental problems in recent years.The environmental awareness is gradually enhancing in society. The "Environmental accounting", "Carbon accounting" and so on new theory appeared in academic with scholars integrating environmental behavior and financial management. The environmental behavior of enterprises will affect their business activities and performance such as profitability, development ability,financing ability and etc.The study is to explore the relationship between the " Disclosed information of carbon accounting " and the "Financing ability" in this paper. The samples are 100 enterprises, which is listed by the China CDP report from 2008 to 2013. The data comes from the China CDP report and enterprises’ social responsibility report from 2008 to 2013. The variables are the "Will of disclosing information of carbon accounting", the "Quality of disclosing information of carbon accounting" and the "series of Financing ability index". The multiple linear regression model is established for empirical study. The idea of this empirical study is exploring the influence relationship, which is defining the "Disclosed information of carbon accounting " as dependent variable and the "Financing ability" as independent variable at first and then defining the "Financing ability" as dependent variable and the "Disclosed information of carbon accounting " as independent variable.The empirical study result of the "Disclosed information of carbon accounting" as dependent variable and the "Financing ability" as independent variable is that the "Publicly listed both in China and overseas or not", the "Financial asset ratio", the "Return on equity" and the "Surplus reserves per share" are significant positive correlation to the "Disclosed information of carbon accounting", and the "Refinancing of total financing ratio" and the "Net profit/business revenue" are significant negative correlation to the "Disclosed information of carbon accounting", while the "cost of capital rate" and the "Asset-liability ratio" are not significant correlation to the "Disclosedinformation of carbon accounting". The empirical study result of the "Financing ability" as dependent variable and the "Disclosed information of carbon accounting" as independent variable is that the "Will of disclosing information of carbon accounting" is significant negative correlation to the "Financing ability", while the "Quality of disclosing information of carbon accounting" is significant positive correlation to the "Financing ability". The enterprises’ whose "Financing ability" is stronger disclosed information of carbon accounting is more full. Then enterprises disclosing the full carbon accounting information can enhance enterprises’ "Financing ability". "Financing ability" can influence "Disclosed information of carbon accounting", and "Disclosed information of carbon accounting" can influence "Financing ability" too.Offering advice to the relevant regulatory authorities, business managers, investors, public media, suppliers sellers and etc basis on the empirical study results. The "Disclosed information of carbon accounting" is the new content of enterprises financial information and supplement of traditional financial information. The stakeholders of enterprises should pay attention to it equally.The financial information and non-financial information are equally important to stakeholders.