Research On The Influence Of Stakeholders To The Environmental Information Disclosure

In recent years, environmental issues have become more prominent. Taking thepath of sustainable development has become the inevitable choice. As an importantpart of the society, enterprises must take on the social responsibility of protecting theenvironment. Environmental information of companies has been more noticed. At thispoint, the persons who need the environmental information are not only shareholdersand creditors who connected with companies by direct interest. The people haveattended to various stakeholders. As been the connection between the enterprises andstakeholders, environmental information disclosure has been done well or not willimpact on the win-win between various stakeholders and the enterprises. This paperattempts to use empirical research to reveal the impact on environmental informationdisclosure by stakeholders.Implementation of the “Disclosure of Environmental Information” is thebackground. And the writer find the opportunity when a draft named the guide ofenvironmental information disclosure about listed companies has been introduced.Based on the sustainable development theory, social responsibility theory, stakeholdertheory and asymmetric information theory, the writer analyses the impaction onenvironmental information disclosure by various stakeholders from the theoreticalangle. On this basis, the data gathered to research the impact to environmentalinformation disclosure is from the heavy polluting industries and also from2008to2010. The empirical results show that the overall level of environmental informationdisclosure is not high but showed an increasing trend. Investors, creditors andsupervisory organizations such as audit institutions are impacting significantly toenvironmental information disclosure. Suppliers, government, public and managementalso influence the environmental information disclosure but not obviously. Employeeshave no effect on the disclosure of environmental information. Bathed on thetheoretical analysis and empirical findings, this paper proposes to some suggestions.Such as improving the laws and regulations, strengthening the supervising fromgovernment, improving the environmental constraint to managers, developing thepubic awareness of protecting environment and constructing the institution aboutemployee supervisors more well.