Empirical Study On The Relations Amongs Environmental Disclosure, Environmental Performance And Economic Performance

As China’s economic and social development, China is facing increasinglyserious environmental problems. Survies shows that64%of urban g roundwater isseriously contaminated,33%water is lightly polluted, over10%of the arable land hasbeen affected by heavy metal pollution, air pollution is also very serious, fog and hazeoccura frequently,"China Environmental Analysis" report data show s The seven ofthe most polluted cities of the world is in china. Serious pollution caused strongresentment among the public, especially the heavy pollution industries. In recentyears, heavy pollution industry with frequent accidents, such as the polluti onaccidents of Zijin Mining, CNOOC(China National Offshore Oil Corporation), Hayaoshares and so on. Heavy pollution industries face increasing preasure on policy andpublic. Because of the environmental laws and regulations systems have not beenestablished in our country, the corporations of heavy pollution industries lacking ofenthusiasm to improve the environmental performance generally have poorenvironmental disclosures and environmental performance. This situation in heavypollution industries and the increasing public demand for environmental information,environmental protection requirements stark contradiction. This paper, based on thebackground of the above reality, studies the relationship between environmentaldisclosure, environmental performance and economic performance. To clarifying therelationship of environmental disclosure, environmental performance and economicperformance is so significant to improve the information disclosure system andpromote the enterprises to improve environmental performance. Providing the basisfor the disclosure of environmental information between enterprises, environmentalperformance and economic performance to promote the formation of good positivecycle, thereby speeding up the implementation of environmental protection work.This paper, based on the current environmental laws and regulations, fiduciaryduty theory, voluntary disclosure theory, stake holder theory and social responsibilitytheory, combined with the special data2011-2012, studies the relationship betweenenvironmental disclosure, environmental performance and economic performance.The regression results indicate that it is a positive correlation between the level ofenvironmental disclosure and environmental performance. Enhancing the level ofenvironmental disclosure can contribute to the improvement of the environmental performance. Conversely, corporate environmental performance and environmentaldisclosure levels are positive correlation, the higher level of disclosure of corporatehas better environmental performance. Environmental performance and economicperformance is a negative correlation. Currently corporations of heavy pollutionindustries to improve our environmental performance does not make for bettereconomic performance. This article try to explains this phenomenon. On the contrary,economic performance and environmental performance is no significant relationship.The economic performance of enterprises do not have a good motivation to furtherimprove environmental performance. Based on empirical results, the author presentedpolicy recommendations. Analysis of the reasons of the frequent pollution incidentsof the heavy pollution industries, and why enterprises lack of enthusiasm to improvethe environmental performance.