Influencing Factors Of The Level About Corporate Environmental Information Disclosure

Along with the growing environmental problem and consciousness of environmentalprotection among people, protecting the environment has become the common voice of people allaround the world. On the18th national congress of communist party of China, the new concept ofbuilding the beautiful China is put forward and reflects the voice. Protect our survival environmentunder the condition of without affecting economic development has become a problem which isneeded us to think and discuss. As the most basic social economic organization and the main usersof environmental resources, enterprise undertakes compelling obligation of protectingenvironment. The environmental information disclosure not only reflects the accomplished degreeof corporate trustee environmental responsibility, but also offers a path for people to understandthe corporate environmental behavior, master the environmental achievements and make somedecisions. Based on this context, the paper researches the level of corporate environmentaldisclosure and its influence factors in the perspective of the heavy pollution petrochemical industrythrough the combination of theoretical and empirical method. By this way, it not only meets thedemand of each stakeholder, but also furthers the environmental management work of enterprisebetter so as to promote the sustainable development among economy, society and environment.Based on the domestic and foreign researches about corporate environmental informationdisclosure, firstly, the paper elaborates related concepts and theories about environmentalinformation disclosure. Secondly, through collating the content of environmental informationdisclosure, it measures the level of corporate environmental disclosure specifically by the annualreport, sustainable-development report, social responsibility report and environmental report of94companies from the heavy pollution petrochemical industry in the year of2012. At the same time, it chooses the influence factors of the level of the corporate environmental information disclosure.There are seven influence factors, namely, company characteristics, corporate governance structure,corporate equity structure and government environmental protection investment, the developmentdifference of regional economic, public environmental consciousness and external audit from thecorporate internal and external aspects. Thirdly, it constructs the empirical model with the level ofcorporate environmental disclosure as dependent variable and its influences factors as independentvariables. By the empirical analysis on the model, it has the following conclusions: there are fiveindependent variables,that is corporate size, debt asset ratio, share proportion of the largestshareholder, outstanding shares proportion and corporate character, being conformed to thesupposes and affected the information disclosure level about environment significantly. Althoughthe other independent variables are consistent with expected symbol, they don’t pass thesignificant test.Finally, through the theoretical and empirical analysis, it puts forward correspondingcountermeasure and suggestion from corporate inside and outside respectively. They includestrengthening the construction of legal system about environmental information disclosure further,making the enterprise internal environmental management better, distributing corporate rights andequity effectively and giving full play the united control function from all parties. By these means,company will improve the level of environmental information disclosure continually and pushforward the sustainable development among economy, environment and society ultimately inperforming social responsibility.