Research On The Relationship Between Corporate Environmental Responsibility Performance And Corporate Value

In recent years,with the development of science and technology and the consumption of resources,China’s environmental problems have become increasingly serious.Our country’s ecological civilization is under great pressure.This is a very critical period.Enterprises are the individuals who mainly pollute the environment.They not only consume a lot of resources,but also emit a lot of waste pollutants,which has caused heavy damage to the ecological environment.Therefore,it is a very important thing to guide enterprises to fulfill environmental responsibilities.The behavior has also attracted worldwide attention.From the perspective of the enterprise itself,the environmental problems that enterprises need to face for survival and development are becoming more and more severe.One is the problem caused by the constraint of limited resources,and the other is that pollution of the environment will cause social moral condemnation and punishment by environmental protection agencies.At the same time,a company is a profitable economic organization.First of all,it must take the achievement of high income as its goal.However,to solve the problem of environmental pollution,it must bear the cost of fulfilling its environmental responsibilities.Under these pressures,the enterprise has changed from the initial single pursuit of efficiency to the pursuit of the overall value of the enterprise itself.On the one hand:By fulfilling environmental responsibilities,companies can help companies strengthen their green competitiveness and have a positive impact on the company’s value enhancement.On the other hand:If a company fulfills its environmental responsibility,it will need huge expenses and costs,which will negatively affect the company’s value.Therefore,in order to explore the interrelationship between the two and clarify the impact of corporate environmental responsibility on company value,this thesis uses listed companies from 2010 to 2019 as a sample,and analyzes the corporate environmental responsibility score and the Tobin’s Q value of listed companies.Research on the impact of the company’s environmental responsibility on the value of the company.The study found that the company’s performance of environmental responsibility has a positive impact on the value of the company,indicating that the company’s environmental responsibility will increase the value of the company,and the impact is lagging.According to the research results,this article provides a reference for enterprises to fulfill their environmental responsibilities,and also provides suggestions for how the government can effectively encourage enterprises to actively perform environmental responsibilities.