会计学院知识库

   在全球经济一体化的趋势下，我们的经济发展在世界范围内取得了显著的成绩，但同时也给我们带来了严峻的环境问题。在可持续发展理念日益普及的今天，人们越来越关心环保问题。社会上的许多人都要求公司要把环保作为首要任务，既要实现经济效益，又要承担环保责任。但在实际生活中，由于很多公司只注重利益最大化，忽略了对环境保护的责任，将其看作是一种经济负担，因而造成了目前公司的环保执行情况并不理想，公司损害环境事件频发，给人类所依赖的生态系统带来了损害。

   本文基于当前企业环境责任履行不佳的问题现状，从环境责任视角出发研究企业履行环境责任对财务绩效的影响程度。首先，通过理论分析，结合可持续发展理论、组织认同理论、声誉理论以及以往的研究经验，分析了履行环境责任对企业财务绩效的影响，得出积极履行环境责任对财务绩效影响是利大于弊的。接着以复星医药作为案例，运用灰色关联分析法将其2010-2021年期间的环保投入、环保补助和环境披露方式与代表企业的盈利、偿债、营运和发展能力的8个财务指标进行相关性分析，经分析各指标之间的关联度均＞0.6，可认为具有强相关。然后再通过复星医药具体财务指标与环保投入和环保补助金额历年来的变化趋势进行分析，得出复星医药在环境责任履行方面：（1）环保投入金额设置缺乏战略性会限制企业财务绩效（2）环保补助金额大幅波动会降低企业财务绩效（3）环境数据信息披露不足会对企业财务绩效带来不利影响。通过研究进一步验证了理论分析上提出的履行环境责任最终会促进财务绩效的提高而不是降低的结论。

   最后，针对上述问题，提出了相应的政策选择和改进建议。希望通过对复星医药环境责任履行的影响分析，提高企业履行环境责任的积极性和主动性。解决企业环境责任履行不力的问题，提升财务绩效，最终实现可持续发展和生态文明建设的双赢。

     In the global economic integration trend，our economic development has made remarkable achievements in the world, but at the same time, it has also brought us serious environmental problems. In today's growing philosophy of sustainable development, people are getting more and more concerned about environmental protection. Many people in society require companies to take environmental protection as a top priority, both to achieve economic benefits and to assume environmental responsibility. However, in actual life, because many companies only focus on maximizing profits, ignore the responsibility for environmental protection, and regard it as an economic burden, the current environmental protection implementation of the company is not ideal, and the company's environmental damage incidents are frequent, the damage done to the ecosystems on which mankind feeds is enormous.

     To examine the effect of business environmental responsibility on financial performance in light of the current environmental issues of weak corporate environmental responsibility implementation from an environmental responsibility perspective.Firstly, through theoretical analysis. According to sustainable development theory, organizational identification principle, prestige concept and previous research experience, the analysis of the effect of CSR on firms' financial performance is presented, and it is concluded that effect of active corporate environmental performance on financial performance is more beneficial than detrimental. Then, taking Fosun Pharma as a case, the grey correlation analysis method was used to analyze the correlation between its environmental protection input, environmental subsidies and environmental disclosure methods during the period from 2010 to 2021 with eight financial indicators representing the firm's profitability, its debt servicing capacity, its operational capacity and its ability to grow, and the correlation degree between the indicators was > 0.6,which can be considered to be strongly correlated. Fosun Pharma's concrete financial indicators are then compared with the trend of environmental investment and environmental grants over the years in order to conduct an analysis, it is concluded that Fosun Pharma's environmental responsibility fulfillment: (1) the lack of strategic setting of environmental protection investment amount will limit the financial performance of the enterprise, (2) the large fluctuation of the environmental subsidy policy will diminish the financial standing of the firm, (3)the inadequate disclosure of environmental data will adversely affect the financial performance of the enterprise. The research further verifies the theoretical conclusion that corporate environmental responsibility will culminate in an enhanced financial position for the firm, rather than reduce corporate financial performance.

     Finally,corresponding policy options and suggestions for improvement are put forward to address the above issues. By analysing the impact of Fosun Pharma's fulfillment of environmental responsibility, we hope to improve the motivation of the company to fulfill its environmental responsibility and take the initiative, solve the problem of poor performance of corporate environmental responsibilities, improve corporate financial performance, and in turn a durable win-win situation and ecological civilization construction.