School of Management and Economics, Beijing Institute of Technology, No. 5 Zhongguancun South Street, Haidian District, Beijing, 100081, People's Republic of China.
Said Business School, University of Oxford, Park End St, Oxford, OX1 1HP, UK.
Environ Sci Pollut Res Int. 2019 Sep;26(27):27792-27807. doi: 10.1007/s11356-019-05975-5. Epub 2019 Jul 24.
Through an analysis of data gathered from Chinese firms surveyed by the Carbon Disclosure Project (CDP), this paper studies the motivations of Chinese firms to respond to the CDP. The results indicate that (1) Chinese firms are more inclined to respond to the CDP survey for the sense-making motivation; (2) Chinese firms are less inclined to respond to the CDP survey due to the existence of proprietary costs for information disclosure; (3) self-interested political motivation is a negative motivation for Chinese firms to respond to the CDP survey; state-owned enterprises (SOEs) are less inclined to respond to the CDP survey than are non-SOEs; and (4) Chinese firms did not consider a financing motivation when deciding whether to respond to the CDP survey. However, the results of our further research show that if firms actively respond to the CDP survey, their financing constraints can be significantly reduced. This paper studies the four motivations for Chinese firms to respond to the CDP survey, contributing to the research of carbon emission disclosure. This paper highlights the importance of corporate carbon awareness for carbon emission disclosure, builds an understanding of the internal driving forces of response to the CDP survey among Chinese firms, and thus promotes the increase of Chinese corporate disclosure of carbon emission.
本文通过对参与“碳信息披露项目”（CDP）调查的中国企业所提供数据的分析，研究了中国企业对 CDP 做出回应的动机。结果表明：（1）中国企业出于感知动机更倾向于回应 CDP 调查；（2）由于信息披露的专有成本，中国企业不太倾向于回应 CDP 调查；（3）自利的政治动机是中国企业回应 CDP 调查的负面动机，国有企业（SOE）比非国有企业更不愿意回应 CDP 调查；（4）中国企业在决定是否回应 CDP 调查时没有考虑融资动机。然而，我们进一步的研究结果表明，如果企业积极回应 CDP 调查，它们的融资约束可以显著降低。本文研究了中国企业回应 CDP 调查的四个动机，为碳排放披露的研究做出了贡献。本文强调了企业碳意识对碳排放披露的重要性，对中国企业回应 CDP 调查的内在驱动力有了一定的认识，从而促进了中国企业碳排放披露的增加。
