An Empirical Study On Factors Affecting Environmental Information Disclosure Of Pharmaceutical Manufacturing Industry In China

With the rapid development of economy, environmental pollution has increasingly become a problem to the sustainable development of China’s economy. A series of problems which were caused by environmental pollution have seriously affected people’s normal life. Economic development is important, the development of a green economy and the concept of the construction of environment-friendly society are both getting into people’s heart which is urgent to environmental pollution prevention and governance issues. Because of the particularity of the production process, Pharmaceutical manufacturing enterprises will often produce a large number of complicated compositions of pollutants. The damage caused by the pollution is very serious. As one of the main source of environmental pollution, Pharmaceutical manufacturing enterprises bear unshakable responsibility in the environmental protection. As a result, the study of pharmaceutical manufacturing which was one of the 16 big heavy pollution industries is necessary to improve the level of environmental accounting information disclosure.In this paper, we start from two aspects of enterprise which are financial and non-financial factors, adopt the method combining theoretical analysis and empirical research to research the factors influencing the environment accounting information disclosure. First of all, combined with the characteristics of medicine manufacturing industry of the listed company, we analyze the information should be disclosed and build a content framework. And then, we select 69 pharmaceutical manufacturing companies which were listed on the main board as the research object, according to the basic data from 2012-2014 annual report, social responsibility report. We calculate the environmental information disclosure index. Then, we use multiple linear regression method to analyze the relationship between the affecting factors and the level of environmental information disclosure of listed companies.Finally, the results as follows:the profitability of enterprises, enterprise scale, the regional economic development level, the proportion of the independent directors, fixed assets ratio has significantly positive correlation to the environmental information disclosure level, Total asset turnover has significantly negative correlation between the environmental information disclosure level, Enterprise property exists significant influence to the environment information disclosure. However, the ratio of the first largest shareholder, the development ability of the enterprise has not obvious significance influence to the environmental information disclosure. In the end, combined with the present situation of the pharmaceutical industry in China, We put forward the corresponding Suggestions of the development of environmental information disclosure of listed companies.