Study On The Impact Of Environmental Performance On Financial Performance Of Listed Chemical Companies

Now,our country’s economic development has avhieved rapid development,however,with the continuous economic development,our country’s natural environment has been significantly damaged,which has seriously affected my country’s sustainable development path,it is necessary to conduct research on the relationship between environment and economy.In recent years,the country has also continuously put forward the slogan of green development,and correspondingly introduced some environmental protection rules and regulations to regulate the production behavior of enterprises and reduce the environmental pollution caused by enterprise production.At the same time,the purpose of business operation is to make a profit,so the management of the company will worry that the cost of improving environmental performance will affect the financial performance of the company,but the relationship between environmental performance and financial performance needs to be analyzed through theoretical and empirical research.For this reason,many scholars have conducted research on the relationship between the two.So far,the academic circles have not reached a unified conclusion on the relationship between the two.This article intends to select my country’s heavy pollution industry chemical industry as the research object,and conduct empirical analysis based on the theory of social responsibility,stakeholder theory,environmental governance theory,and sustainable development theory.First,through the 2010-2019 A-share listed chemical companies in my country For screening,1209 sample data of 293 listed companies were selected.Secondly,this article constructs a brand-new environmental performance and financial performance evaluation system.This article constructs an environmental performance evaluation system from three aspects of corporate pollutant emissions green innovation and environmental protection investment,from financial benefits,asset operations,debt solvency,development capabilities.The five dimensions of stock market value construct a financial performance evaluation system.Thirdly,this paper conducts descriptive statistics correlation and multiple regression to study the relationship between comprehensive environmental performance and financial performance.At last,construe based on the theoretical consequences and draw relevant decisions.The present environmental performance and financial performance of was on the market chemical corporations have a remarkable active correlation.When the environmental performance of listed chemical companies improves,financial performance will also improve;and the environmental performance has an force on financial lag,and lag at least two periods,the second period is more significant than the first period;The cost of environmental performance improvement of listed chemical companies will not affect financial performance,but has a positive force on the improvement of financial performance;the force of environmental of listed chemical companies on financial does not have diminishing marginal utility,instead,every increase of the same amount Environmental performance and financial performance will improve more and more.Based on the above conclusions,this article puts forward reasonable opinions from the perspective of the enterprise industry,government and society.First of all,companies should abide by government policies,reduce pollutant emissions,increase recycling of resources,and reasonably increase their environmental capital investment.Secondly,the industry should organize green production publicity seminars and establish green technology research groups in universities;promote coordination and cooperation among enterprises to share green technologies;coordinate the relationship between the government and enterprises,and establish and improve environmental information disclosure systems.Finally,the government should formulate policies to actively guide and do a good job in environmental protection publicity;different groups of people in the society should do a good job in supervision and research;audit institutions should also include environmental information in the scope of comprehensive corporate evaluation and review.