Study On The Relationship Between Listed Companies’Environmental Accounting Information Disclosure And The Enterprise Value

In recent years, with the rapid development of city and industry, the problem of environmental pollution has become increasingly prominent and threaten to the survival and development of mankind. Environmental problems caused by enterprises, which are major sources of waste and environmental pollution, are increasingly attracting the attention of the community. People claim that enterprises must fulfill their environmental responsibility and disclose environmental accounting information. Many enterprises have gradually realized that they have obligation to environment and it’s an inevitable choice for them to protect environment in order to obtain sustainable development. But lots of enterprises regard environmental responsibilities and environmental accounting information disclosure as burdens, which will reduce the value of the enterprise, so they don’t want to disclose environmental accounting information. Therefore, the focus of many enterprises is how to achieve a balance. This paper researches the relationship between the environmental accounting information disclosure and enterprise value from both positive and negative aspects, and give reasonable and effective advices, aiming at promoting enterprises to disclose more detailed environmental accounting information and fulfill environmental responsibility better, in order to achieve the sustainable development of society.First of all, based on massive collections of data and in-depth study of the relevant literatures, I summarized research trends about the relationship between corporate value and environmental accounting information disclosure, and pointed out the revelation. Then I introduced the theories related to them. Next, I used stratified sampling method to select70listed companies of heavily polluting industries of Shanghai A shares from2010to2011as the data sample, and used the statistical analysis tools SPSS18.0and EXCEL. On this basis, I did descriptive statistics, correlation analysis and multiple regression analysis. From both positive and negative aspects, I analyzed the relationship between environmental accounting information disclosure and corporate value. Last, I got the conclusion.The results show that, first, the level of environmental accounting information disclosure has no significant influence on enterprise value. It is because that stakeholders of enterprises in our country have not given enough attention to corporate environmental accounting information disclosure and the supervision system of environmental accounting information disclosure is not perfect. Second, the level of environmental accounting information disclosure is affected by enterprise value and the companies that have larger enterprise value are more likely to disclose detailed environmental accounting information. The enterprises are forced to disclose more corporate environmental accounting information because of the greater enterprise value as well as the higher social concern; at the same time, the enterprises will be willing to disclose environmental accounting information only if they get more profits. Finally, according to the research results, this paper presents some suggestions from the perspectives of the enterprise itself, government and the public, so as to promote the disclosure of environmental accounting information more scientifically and reasonably.