woeamМир экономики и управленияWorld of Economics and Management2542-04292658-5375Новосибирский национальный исследовательский государственный университет10.25205/2542-0429-2021-21-3-70-88woeam-206Research ArticleМИКРОЭКОНОМИЧЕСКИЙ АНАЛИЗ: МЕТОДЫ И РЕЗУЛЬТАТЫMICROECONOMIC ANALYSIS: METHODS AND RESULTSПричинно-следственная связь экологических и финансовых показателей российских промышленных компанийCausal Relationship between Environmental and Financial Indicators of Russian Industrial Companieshttps://orcid.org/0000-0002-8630-3621Каргинова-ГубиноваВ. В.Karginova-GubinovaV. V.

Валентина Владимировна Каргинова-Губинова, кандидат экономических наук. SPIN 6756-6690, Researcher ID H-9921-2018

Петрозаводск

Valentina V. Karginova-Gubinova, Candidate of Sciences (Economics). SPIN 6756-6690, Researcher ID H-9921-2018

Petrozavodsk

vkarginowa@yandex.ruИнститут экономики Карельского научного центра Российской академии наукРоссияInstitute of Economics of the Karelian Research Centre of the Russian Academy of SciencesRussian Federation2021241020212137088Copyright © Каргинова-Губинова В.В., 20212021Каргинова-Губинова В.В.Karginova-Gubinova V.V.This work is licensed under a Creative Commons Attribution 4.0 License.https://woeam.elpub.ru/jour/article/view/206

Высокий уровень негативного воздействия на окружающую среду и ухудшение ее качества обусловливают необходимость экологизации производственно-хозяйственной деятельности. Целью данного исследования стало определение направления и причинно-следственной связи между экологическими и финансовыми показателями российских промышленных компаний. С учетом отсутствия системного изучения взаимосвязи уровня экологической ответственности компаний России и их финансового состояния, а также наличия лишь единичных работ, анализирующих все возможные типы причинно-следственной связи корпоративных характеристик, заявленная цель выглядит актуальной и значимой. Методология исследования предполагала использование методов прикладной статистики. В ходе работы были определены направление и сила корреляционной связи за разные периоды как между отдельными экологическими и финансовыми показателями, так и для их совокупности. Было показано, что преимущественно финансовые интересы российских промышленных компаний и общественные экологические интересы слабо, но положительно взаимосвязаны, исключение составляют такие направления, как загрязнение атмосферы и отходы. Сделан вывод о существовании на фондовом рынке институциональной ловушки, препятствующей эффективному переходу к зеленой экономике. Даны рекомендации по повышению уровня экологизации российских компаний. Полученные результаты расширяют знания в области зеленой экономики и зеленых финансов в частности. Практическое значение работы для корпоративных менеджеров определяется возможностью прогнозировать динамику экологических и финансовых показателей при разработке планов о повышении уровня экологической ответственности компании, а для органов государственной и муниципальной власти – способностью эффективно мотивировать компании на экологизацию деятельности.

The high level of negative impact on the environment and the deterioration of its quality necessitate the greening of production and economic activities. The purpose of this study was to determine the direction and degree of the causal relationship between the environmental and financial indicators of Russian industrial companies. Taking into account the lack of a systematic study of the relationship between the level of environmental responsibility of Russian companies and their financial condition, as well as only single works analyzing all possible types of causation of corporate indicators, the stated goal looks relevant and significant. The research methodology assumed the use of applied statistics methods. In the course of the work, the direction and strength of the correlation were determined for different periods of time both between individual environmental and financial indicators, as well as for their aggregation. It was shown that the predominantly financial interests of Russian industrial companies and public env ironmental interests are weakly but positively interrelated, except for such objects as air pollution and waste. It is concluded that there is an institutional trap in the stock mark et that prevents an effective transition to a green economy. Recommendations are given for increasing the level of greening of Ru ssian companies. The conclusions drawn expand knowledge in the field of green economy and green finance in particular. The practical importance of the work for corporate managers is determined by the ability to predict the dynamics of environmental and financial indicators when developing plans to increase the level of environmental responsibility of the company, and for state and municipal authorities – the ability to effectively motivate companies to green their activities.

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The authors declare that there are no conflicts of interest present.