| With the continuous advancement of human history and civilization,the level of the global economy is also constantly improving,and the price that comes with it is the increasing frequency of environmental damage,which seriously threatens the survival and development of human beings.Nowadays,more and more countries begin to pay attention to environmental issues.While emphasizing economic growth,the concept of sustainable development is also quickly accepted and adopted.Nowadays,under the background of China’s high-quality economic development,the disclosure of environmental information by enterprises has been widely valued by the whole society,and environmental information disclosure is always affecting the decision-making of investors.The automobile industry is a pillar industry of our country.Vigorously developing new energy vehicles is an effective measure for energy conservation and emission reduction,which can well alleviate our country’s environmental and energy problems,and is also a powerful measure for my country’s construction of ecological civilization.Therefore,this paper selects the new energy vehicle industry as the Study the sample field.First,by reading a large number of domestic and foreign literature,analyzing the existing research results,and explaining the theory and influencing factors of environmental information disclosure and debt financing from a theoretical point of view;secondly,researching and analyzing the current situation of BYD’s environmental information disclosure and debt financing;Thirdly,select the new energy automobile companies in Shanghai and Shenzhen City A as the research object,and analyze the relationship between the environmental information disclosure and debt financing of these companies between 2017 and 2021,and analyze them through correlation analysis and multiple linear regression.Then,the leading company in the new energy automobile industry,BYD,was selected for specific verification and analysis;finally,from the perspectives of the government,financial institutions and enterprises,it was proposed that the government should improve the environmental information disclosure system and the corresponding punishment mechanism,and financial institutions The evaluation of corporate environmental information disclosure should be strengthened,and new energy vehicle companies should actively disclose environmental information and make reasonable use of green financing.The research results of this thesis prove that there is a negative relationship between the quality of environmental information disclosure and the cost of debt financing,but a positive relationship with the scale and term structure of debt financing.This paper demonstrates from the perspective of combining cases and empirical evidence that in the new energy vehicle industry,the status of environmental information disclosure will affect corporate debt financing.Corresponding references and suggestions are given in terms of understanding and understanding of core technological innovations. |
