A Study On Environmental Information Disclosure Quality And Influencing Of Coal Listed Companies

Coal industry is a pillar industry for our country’s economic development and socialstability. Coal listed companies as the guide of coal industry， its environmental informationdisclosure quality not only effect its own development， but also influence the development ofthe entire coal industry as well as the whole society. This paper reviews the study ofenvironmental information disclosure by scholars home and abroad， finding that the currentresearch of environmental information disclosure is only remains on disclosure actuality andinfluence factors， which seldom on measure its quality and how to measure. Therefore， thispaper studies on environmental information disclosure quality and its influencing factors ofcoal listed companiesThis paper on the basis of reference scholars’ study on environmental informationdisclosure， according to relevant laws and regulations of environmental informationdisclosure， combining the particularity of coal industry in our country， construct targetsystem to measure coal listed companies environmental information disclosure quality， usingcontent analysis to quantize environmental information disclosure from its adequacy，significance and reliability and then make a comparative study from horizontal and vertical.From the analysis of185samples of environmental information disclosure quality of37coallisted companies in2008-2012， some problems are found existing in environmentalinformation disclosure of coal listed companies in our country， such as low disclosurequality， good information tendency， etc. Based on these problems， from aspects likecompany characteristics， management structure and refinancing needs to put forward9factors affect on environmental information disclosure quality of the coal listed companies.And establish regression model， through empirical test to find a positive correlation betweenthe environmental information disclosure quality of the coal listed companies and theenterprise scale， profitability， equity concentration， supervisory board scale and institutionsetting in which it has a large correlation with firm size and institution setting. Whileenvironmental information disclosure quality has a negative correlation with financialleverage， operation capability， the proportion of independent directors and refinancingdemand. According to the quantitative analysis and empirical regression， combined with the "bottlenecks" period of development of coal industry， from the perspective of externalenterprise supervision and internal corporate governance to propose5suggestions onimproving the environmental information disclosure quality of the coal listed companies in ourcountry and try to build environmental information disclosure system of coal industry.