Research On The Correlation Between Carbon Emission Reduction Behavior And Enterprise Value

The negative effects of climate change and global warming are increasing,carbon emission reduction has become an important topic in practice and academia.However,for a long time,the relationship between environmental protection and economic growth has been controversial.Whether they are mutually contradictory or can they achieve a“win-win"situation?In this paper,after reviewing the relevant literature,defining the concepts,analyzing the theoretical basis and analyzing the influence path of carbon emission reduction behavior on enterprise value,this paper takes all A-Share enterprises listed in Shanghai and Shenzhen Stock Exchanges in 2016 as samples,to empirically test the impact of corporate carbon emission reduction behavior on enterprise value.The empirical results show that:the carbon emission reduction behavior of enterprises has a positive effect on enterprise value,that is,enterprises actively participate in carbon emission reduction,which helps to enhance the value of enterprises,and this positive effect has been more significantly reflected in non?industrial enterprises,but in the samples of industrial enterprises,did not get significant results.The empirical results of this study can be used for reference by market participants,enterprises,environmental regulators,accounting industry and academia.For market participants(investors),it is suggested that investors and other stakeholders include greenhouse gas emissions into risk factors when making decisions.For enterprises,the research results may encourage them to reduce and manage greenhouse gas emissions and take more comprehensive strategies and actions to cope with climate change.For environmental regulators,the results of this study can help regulators to develop future policies on corporate carbon emission reduction and disclosure about greenhouse gas-related activities.For the accounting industry,the research in this paper confirms the importance of enterprises' carbon emission reduction behavior to the financial indicators such as enterprise value.Finally,for the academic community,the research results of this paper confirm that enterprises need to establish a sound carbon management system to meet the needs of carbon emission reduction,and scholars in the accounting field must develop carbon accounting,auditing and management courses to cultivate students' practice in the green business environment.The research in this paper proves that enterprises' active participation in carbon emission reduction is conducive to enhance enterprise value,and enriches the research content in the field of carbon accounting.