Research On Environmental Performance Information Disclosure And The Influence Factors Of Listed Companies In China

In China, the problem of environmental pollution is getting more and moreserious. The stakeholders of listed companies concern about environmentalperformance. But listed companies environmental performance informationdisclosure is still at a low level. Environmental performance information hasreceived enough attention in academy and practice. But current researches havenot extensively explored the factors that influence environmental performanceinformation disclosure. This does not support the sustainable development of thesecurity market and listed companies.This article selects104companies listed on the Shanghai stock exchangefrom2008to2011as the sample, and exams the influencing factor ofenvironmental performance information disclosure. This paper proposes a4Mmodel, which considers economic motivation, pressure motivation (includingexternal stakeholders, internal stakeholders, and intermediate stakeholderpressures), strategy motivation, and characteristics motivation as the four maindrives to disclosure environmental performance information. We differentiate theextent of influence between the external stakeholders and internal stakeholders,then we exam how the four drives namely the economic motivation, the pressuremotivation, the strategy motivation, and the characteristics motivation affect theenvironmental performance information disclosure.As China s capital market increasingly mature, exam the influence factors ofenvironmental performance information disclosure becomes more important. Itcan help minimize information asymmetry, promoting added-value of greenlisting Companies, and supporting China s capital market sustainabledevelopment.