نشریه محیط زیست طبیعی

بررسی پیامدهای اقتصادی بلندمدت مسئولیت محیط زیستی: شواهدی از شرکت‌های‌آلوده‌کنندة بورس اوراق بهادار تهران

نوع مقاله : مقاله پژوهشی

نویسنده

گروه حسابداری، واحد لاهیجان، دانشگاه آزاد اسلامی، لاهیجان، ایران

چکیده

هدف از این پژوهش بررسی آثار اقتصادی بلندمدت مسئولیت محیط زیستی شرکت‌های آلوده‌کنندة از دیدگاه پایداری سود و واکنش سرمایه‌گذاران به سود است. برای دستیابی به اهداف پژوهش، 156 شرکت پذیرفته شده در بورس اوراق بهادار تهران در بازة زمانی 1393 تا 1398 انتخاب شدند و با استفاده از رویکرد داده‌های تابلویی، فرضیه‌های پژوهش آزمون شدند. نتایج نشان داد که سود کل شرکت‌های مورد مطالعه پایدار است، اما مسئولیت محیط‌زیستی شرکت‌های آلوده‌کننده تاثیر معنی‌داری بر پایداری سود ندارد. همچنین سود شرکت‎های آلوده‌کننده، تأثیر مستقیمی بر واکنش سرمایه‌گذاران می‌گذارد. این در حالی است که سرمایه‌گذاران، واکنش معنی‌داری به افشای مسئولیت محیطزیستی شرکت‌های آلوده‌کننده نشان نمی‌دهند. یافته‌های این مطالعه می‌تواند مدیران را در مدیریت منطقی تنش بین سرمایه‌گذاری محیطزیستی در رابطه با سهام‌داران و کیفیت سودآوری کمک نماید. همچنین یافته‌ها، پیامدهای مهمی برای فعالان محیط زیست، سیاست‌گذاران و نهادهای نظارتی دارد.

کلیدواژه‌ها

عنوان مقاله [English]

Investigating the long-term economic consequences of corporate environmental responsibility: evidence from polluting listed companies in the Tehran stock exchange

نویسنده [English]

  • Seyed Reza Seyed Nezhad Fahim

Department of Accounting, Lahijan Branch, Islamic Azad University, Lahijan, Iran

چکیده [English]

The purpose of this study is to investigate the long-term economic effects of corporate environmental responsibility of polluting companies from the perspective of earnings persistence and investors' response. To achieve the research objectives, 156 companies listed in the Tehran stock-exchange during 2014-2019 were selected and using the panel data approach, research hypotheses were tested. The results indicate that of all the studied companies have earnings persistence, but the corporate environmental responsibility of the polluting companies does not have a significant effect on the earnings persistence. Also, the profits of polluting companies have a direct impact on the reaction of investors. Investors, however, do not show a significant reaction to the disclosure of the environmental responsibility of the polluting companies. Findings of this study can help managers in rationally managing the tension between environmental investment in relation to shareholders and the quality of profitability. The findings also have important implications for environmental activists, policy makers and regulatory bodies.

کلیدواژه‌ها [English]

  • Environmental Policies
  • Earnings persistence
  • Investor Response
  • Environmental Pollution
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نشریه محیط زیست طبیعی
دوره 75، شماره 1
خرداد 1401
صفحه 7-21