A Research On The Relationship Of Institutional Holdings,product Market Competition And Environmental Accounting Information Disclosure

With the acceleration of economic globalization,the consequences of a one-sided pursuit of economic growth is the natural ecological environment worsening,all kinds of environmental problems become worse and worse.Especially in recent decades,more and more people have gradually realized that natural resources are not inexhaustible as what we thought,if we continue to run amok,we will finally extinct.With the improvement of our country enterprise environmental incident frequency,the environmental pollution problems also gradually enter the public’s view,enterprise environmental problem not only draw the attention of the governments,the consumer and other stakeholders,also indirectly lead the manager to start to pay attention to the environmental problems of doing business.In this context,we hope we can find the enterprise internal reasons that influence the enterprise environmental accounting information disclosure in this paper after the analysis of the existing research,this not only concerns the improvement of ecological environment,but also the sustainable development of the enterprise management,it can also help the enterprises to carry out effective internal governance,we hope we can provide some meaningful suggestions and comments for the environmental protection development of China’s enterprises,also for the improvement of the enterprise environmental accounting theory system architecture at the same time as little of a power.In this paper,we took the stakeholder theory,cost-benefit theory,positive theory as the research basis,after we reviewed and summarized the research of the academic circles to the enterprise environmental accounting information disclosure,we took listed companies in heavy pollution industry of China’s Shanghai a-share in 2014 as the research object,then used the corporate annual report,the social responsibility report,the state department web site for environmental protection and national certification and accreditation supervision and management committee as the data source,we finally studied the influence of the institutional investors holding to the corporate environmental accounting information disclosure in heavy pollutionindustry in China empirically using multivariate linear regression model.In addition,this article also joined the product market competition strength variable as a regulation of the external environment factor,intended to test whether there is a difference between the impact of institutional investors holding on the environmental accounting information disclosure under the environment of different product market competition strength,then we put forward some corresponding opinions and suggestions according to the related results of empirical research.Empirical study results showed that the institutional investors of listed companies of heavy pollution industry holdings had a positive influence on environmental accounting information disclosure condition,and passed the test of significance;In the research of market segment,in the low and medium market competition environment of listed companies,the institutional investors holding had positive influence on environmental accounting information disclosure,and had passed the test of significance too.Besides,in the medium market competition environment,the institutional investors holding had more effect on the influence of the environmental accounting information disclosure,when the degree of product market competition became intensest,institutional investors holding did not significantly affect the enterprise environmental accounting information disclosure,it went against the hypothesis put forward.According to the empirical conclusions,we put forward policy recommendations such as perfecting our country environmental accounting information disclosure system,strengthening supervision,promoting institutional investors to actively participate in corporate environmental responsibility performance and developing good market competition environment.