A Study On Influential Factors Of Environmental Performance Of Listed Companies In Heavy Pollution Industry

With the introduction of the eighth amendment scheme "environmental protection law" on 24 April 2014, it has gradually become the basic requirements for the survival and development to take the initiative to undertake environmental responsibility, to reduce environmental risks, to further enhance the environmental performance for heavy polluting industries listed companies. Therefore, the study on influence factors of environmental performance of listed companies in heavy pollution industry can help achieve the sustainable management and enhance its competitiveness in the international market. The paper is based on the external theory, resource dependence theory and stakeholder theory, carding relevant research results of domestic and foreign environmental performance and its influencing factors. In this paper, corporate environmental performance is defined as the comprehensive evaluation of enterprise environmental management, based on which the environmental performance evaluation model is constructed through expanding the environment management model(SAR model). Environmental performance composed with two dimensions named EMP and EOP. Then the paper identify the internal and external influencing factors of environmental performance through the analysis of the inner and outer factors related to management environment, constructing the influencing factors model for empirical analysis.The research results show that:Corporate governance structure in the internal factors has significant negative effect on environmental performance, social concern degree in the external factors have significant positive effects, financial performance, government subsidies and the transparency of government information on enterprise environment supervision has a positive impact but the impact was not significant. Therefore, listed companies in heavy polluting industries should develop and implement long-term environment strategy, strengthen the internal control to ensure the effective of supervision and management of power, construct the industry association of construction enterprises to communicate internal and external management of autonomous mechanism. While external stakeholders should actively promote the capital green market and green consumption, environmental protection departments of the government should continue to improve the policy environment and legal system, strengthening environmental regulation enforcement while providing comprehensive policy support and urging the listed company to form a virtuous cycle between environmental management and competitiveness of enterprises.