Media Supervision,Environmental Institutional And Environmental Information Disclosure

With the rapid development of economic and society,the natural environment has been seriously polluted.The environment has posed serious challenges to the development of economy.Environmental pollution and environmental protection hotly caused discusses around the world.Environmental pollution brought a significant impact of daily life in recent years.There has been increasing called for more conservation of environmental resources that support human life.At present,the development of environmental accounting in our country is still in its infancy.In our country,the level of environmental information disclosure is still very low.As the main body of informal external supervision,the media plays an important role in improving the level of environmental information disclosure of enterprises.Under the external pressure of public opinion,consider investors,creditors and other external stakeholders,the media attention forced enterprises to enhance the level of environmental information.Based on the analysis of legitimacy theory and social contract theory,formal environmental laws,regulations and other regulations,can be bound to the environmental behavior of enterprises and environmental information disclosure.This paper focus on the relationship between media supervision,environmental institution and environmental disclosure in 2010-2014 by the analysis of 284 firms of A-Shares in Heave Pollution Industry listed on Shanghai Stock Market.The results show that the improvement of media attention can significantly improve the level of corporate environmental information disclosure.Environmental system pressure can significantly enhance the level of corporate environmental information disclosure.Media as an informal external supervision of the main body of the formal system has produced obvious complementary role on enhance the level of corporate environmental information disclosure.The research conclusion can provide some empirical evidences for the gradual improvement of the environmental system,the role of media supervision,and jointly promote the quality of environmental information disclosure.The conclusion also provides some theoretical support for the development of environmental regulations.