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论文编号：	15436
作者编号：	2120233711
上传时间：	2025/6/11 15:29:24
中文题目：	ESG评级分歧对企业信息披露质量的影响研究——基于沪深A股新能源行业
英文题目：	The Impact of ESG Rating Divergence on Corporate Information Disclosure Quality: Evidence from China''''s Shanghai and Shenzhen A-Shares New Energy Industry
指导老师：	齐岳
中文关键字：	新能源；ESG评级分歧；信息披露质量
英文关键字：	New Energy; ESG Rating Divergences; Information Disclosure Quality
中文摘要：	摘要 在全球绿色发展趋势及中国“碳达峰、碳中和”战略目标的背景下，新能源行业在实现“双碳”目标中扮演着关键角色。然而，随着ESG（环境、社会和治理）理念的兴起，ESG评级逐渐成为衡量企业可持续发展能力的重要工具。然而，由于不同评级机构在评级标准、指标体系、权重设置等方面的差异，ESG评级结果往往存在较大的分歧。这种评级分歧不仅会影响市场参与者对企业价值的判断，还可能对企业信息披露质量产生深远影响。基于此，本研究以沪深A股新能源行业为研究对象，探讨ESG评级分歧对企业信息披露质量的影响机制，并通过分类研究进一步揭示其背后的特质差异。 本研究首先通过文献梳理和理论分析，提出了ESG评级分歧对企业信息披露质量的影响假设。随后，基于2015-2023年沪深A股新能源行业的数据，构建多元回归模型进行实证分析。研究结果表明，ESG评级分歧对企业信息披露质量具有显著的负面影响，尤其是在盈余管理较低、行业竞争集中度较低以及运营效率较高的企业中，这种影响更为显著。此外，本研究还通过异质性分析，进一步探讨了不同企业特质下ESG评级分歧对企业信息披露质量的差异化影响。 本研究的理论意义在于丰富了ESG评级分歧和企业信息披露质量的研究维度，为理解ESG评级在资本市场中的作用提供了新的视角。实践意义则体现在为企业优化信息披露策略、政策制定者完善ESG评级体系和信息披露监管政策、投资者识别企业信息披露质量提供了科学依据。研究结论不仅为理解ESG评级分歧在资本市场中的作用提供了新的视角，还为推动我国资本市场的健康发展和经济绿色转型提供了一定的理论支持和实践参考。 关键词：新能源；ESG评级分歧；信息披露质量
英文摘要：	Abstract Against the backdrop of global green development trends and China's strategic goals of "carbon peaking and carbon neutrality," the new energy industry plays a pivotal role in achieving the "dual carbon" targets. However, with the rise of the ESG (Environmental, Social, and Governance) concept, ESG ratings have gradually become an essential tool for measuring corporate sustainability. Yet, due to differences in rating standards, indicator systems, and weighting methods among various rating agencies, ESG ratings often exhibit significant discrepancies. Such rating divergences not only affect market participants' judgments of corporate value but may also have profound implications for the quality of corporate information disclosure. Based on this, this study focuses on the new energy industry in the Shanghai and Shenzhen A-share markets to explore the impact mechanism of ESG rating divergences on corporate information disclosure quality, and further reveals the underlying trait differences through classification research. This study begins with a literature review and theoretical analysis, proposing hypotheses on the impact of ESG rating divergences on corporate information disclosure quality. Subsequently, based on data from the Shanghai and Shenzhen A-share new energy industry from 2015 to 2023, a multiple regression model is constructed for empirical analysis. The research results indicate that ESG rating divergences have a significant negative impact on corporate information disclosure quality, particularly in companies with lower earnings management, lower industry competition concentration, and higher operational efficiency. Additionally, through heterogeneity analysis, this study further explores the differential impacts of ESG rating divergences on corporate information disclosure quality across different corporate traits. The theoretical significance of this study lies in enriching the research dimensions of ESG rating divergences and corporate information disclosure quality, providing a new perspective for understanding the role of ESG ratings in capital markets. The practical significance is reflected in offering scientific evidence for companies to optimize information disclosure strategies, for policymakers to improve ESG rating systems and information disclosure regulatory policies, and for investors to identify corporate information disclosure quality. The research conclusions not only provide a new perspective for understanding the role of ESG rating divergences in capital markets but also offer theoretical support and practical references for promoting the healthy development of China's capital markets and the green transformation of the economy. Key Words: New Energy; ESG Rating Divergences; Information Disclosure Quality
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