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9 September 2019 The Factors Affecting the Performance of Marine Environmental Protection Enterprises
Zhonghua Xu, Ying Ren, Peng Zhao, Zeyu Zhang
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Abstract

Xu, Z.; Ren, Y.; Zhao, P., and Zhang, Z., 2019. The factors affecting the performance of marine environmental protection enterprises. In: Gong, D.; Zhu, H., and Liu, R. (eds.), Selected Topics in Coastal Research: Engineering, Industry, Economy, and Sustainable Development. Journal of Coastal Research, Special Issue No. 94, pp. 40–49. Coconut Creek (Florida), ISSN 0749-0208.

With the rapid development of coastal economy and marine development activities, marine environmental protection issues have become increasingly prominent, leading to the development of marine environmental protection enterprises which have gradually become a hot spot of concern. However, as China's marine environmental protection enterprises are mostly still at the stage of start-up and growth, it is urgent to maximize the value creation of marine environmental protection enterprises and optimize the value through the market value management. This paper selects 46 listed environmental protection companies as research samples, studies the management performance of them through factor analysis and multiple regression, and tests the relationship between various influencing factors and market value management performance. The study found that such factors as operational capacity, innovation capability, stockholder's rights drive, investor structure professionalism, and the number of disclosed mergers and acquisitions have a significant positive impact on market value management performance of marine environmental protection enterprises, while factors like capital structure, the number of litigations and arbitrations have a significant negative impact on market value management performance, and there is an inverted U-shaped relationship between ownership concentration and market value management performance. This research has certain enlightenment significance for marine environmental protection enterprises to improve the performance of market value management.

©Coastal Education and Research Foundation, Inc. 2019
Zhonghua Xu, Ying Ren, Peng Zhao, and Zeyu Zhang "The Factors Affecting the Performance of Marine Environmental Protection Enterprises," Journal of Coastal Research 94(sp1), 40-49, (9 September 2019). https://doi.org/10.2112/SI94-008.1
Received: 18 March 2019; Accepted: 21 April 2019; Published: 9 September 2019
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KEYWORDS
environmental protection industry
influencing factors
linear regression model
Marine environmental protection
performance of enterprise
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