DETERMINANTS OF CORPORATE CARBON EFFICIENCY: EVIDENCE FROM CDP 2011-2014 QUESTIONNAIRE FOR STANDARD & POOR'S 500 INDEX COMPANIES

作者：Zhou, Zhifang; Xiao, Yixuan; Ziqi, Dong; Liu, Liemei; Chen, Xiaohong; Zeng, Huixiang^*

来源：Environmental Engineering and Management Journal, 2017, 16(7): 1595-1608.

DOI：10.30638/eemj.2017.173

• carbon efficiency
• enterprise value
• institutional environment
• listed companies
• standard & poor's 500 index

Carbon efficiency has been used to measure the economic and environmental benefits of enterprises. Studies on the influencing factors of carbon efficiency significantly affect the optimization of low-carbon management system, enhancing low-carbon operations and achieving a low-carbon economy. In accordance with the Carbon Disclosure Project (CDP), and with Standard & Poor's 500 Index (S&P 500) enterprises during 2011-2014 as the research sample, this paper analyzes the relationships between carbon efficiency and enterprise value, institutional environment, and capital market pressure. Results indicate that carbon efficiency exhibits a positive correlation with enterprise value, a negative correlation with institutional environment, and a weak correlation with financing and asset-liability ratio. Carbon efficiency is also influenced by internal and external factors, including social, economic, and market determinants.

• 出版日期2017-7
• 单位中南大学; 湖南大学