The Study On Impact Of Public Pressure On Corporate Environmental Information Disclosure Quality

Along with rapid economic development in our country,serious environmental problem has been emerged.The notion "GDP first" was deeply ingrained upon domestic government officials,who attached great importance to economic development but environment.It caused resource and energy scarcity,environment deterioration.With the deteriorated pollution in China,so-called "China Threat" theory is spreading internationally.Therefore,the government and the public must shift away from the past view,and realize the urgency of environmental protection.As an important participant of social activities,when enterprises create wealth,they also discharge pollutant excessively.The sample corporation's environmental information disclosure choice is a main approach for the public to supervise their environmental performance.It is not only beneficial to treat the corporate image correctly by stakeholder,but also significantly affects the process of sustainable development strategy.Then what is the current status of our country's corporation environmental information disclosure?What is the motive to do so?With the enhancement of public's environmental consciousness,the enlargement of supervision strength and the improvement of Green Credit Mechanism,the enterprises are facing pressure from many aspects.Can these pressures promote corporation environmental information disclosure quality?In order to answer these questions from the view of public pressure,this study selected 175 Shenzhen a-share listed companies of heavy pollution industry from 2009 to 2015.After screening,957 groups of observations have been got.After building an effective evaluation system,we rate the quality of the sample enterprises' environmental information disclosure.In this paper,we analyze how the pressure from public,government and commercial bank affect corporation environmental information disclosure.Then we introduce the ownership as regulating variable to discuss the difference between SOEs and non-SOEs.The study found that:(1)The companies from highly polluted industry have a low environmental information disclosure quality.And their disclosures avoid the important and dwell on the trivial,more qualitative and less quantitative.(2)Public pressure,government regulation and credit pressure will all significantly improve the quality of environmental information disclosure.(3)By means of subgroup regression of SOEs and non-SOEs,the results show public pressure obviously affect on SOEs but others.The effect of government regulation is just the opposite.It enhances the disclosure quality of non-SOEs,but almost has no effect on SOEs.As for the credit pressure,there have no remarkable differences between the two types of enterprises.At the end,based on the empirical analysis results and combined with domestic present situation,this thesis puts forward recommendations from three aspects:establish and develop the related policy,enforce government regulation;give full play to the supervisory role of the masses,put green credit mechanism in place,introduce external audits;enhance the sense of environmental protection,increase the enterprise's willingness to disclosure.