煤炭企业资产质量、治理机制与高质量发展的关系研究

煤炭企业高质量发展是推动经济转型和实现"双碳"目标的必然要求,资产及其生产效率作为企业价值创造的关键因素,对煤炭企业高质量发展具有重要影响.本文以2010—2019年煤炭上市企业的面板数据为样本,采用固定效应模型实证分析煤炭企业资产质量对高质量发展的影响及治理机制的调节效应.结果表明:煤炭企业良好的资产质量能够推动其高...

Research on relationship among asset quality, governance mechanism and high-quality development of Coal Enterprises

High-quality development of coal enterprises is an inevitable requirement to promote economic transformation and achieve the dual carbon target. Based on the panel data of listed coal enterprises from 2010 to 2019, this paper empirically analyzes the influence of asset quality of coal enterprises on high-quality development and the moderating effect of governance mechanism by using the fixed effect model. The results show that: (1) The better asset quality of coal enterprises can promote their high-quality development. (2) Governance mechanism has a moderating effect on the relationship between asset quality and high-quality development to a certain extent, among which: The ownership concentration and CEO duality weaken the positive influence of asset quality on the high-quality development of enterprises. The ownership and executive shareholding ratio strengthen the promoting effect of asset quality on the high-quality development of enterprises. Executive compensation incentive has a U-shaped moderating relationship between asset quality and high-quality development, while the proportion of independent directors has no significant moderating effect on the two. Therefore, coal enterprises should focus on improving asset quality and efficiency, and improve corporate governance level by improving ownership structure, optimizing board governance and perfecting executive incentive mechanism, so as to achieve high-quality development of coal enterprises.