Research On The Impact Of Environmental Responsibility On Corporate Financial Performance Under The Background Of Green Development

At the same time as economic development,a large number of environmental problems have seriously endangered the survival and development of human society and restricted the continuous progress of human civilization.Solving these environmental problems cannot rely solely on the government's policies and the supervision of the general public.It also requires the company's efforts.Under the background of green development,the company must also fulfill its environmental responsibility while pursuing profits.It should shoulder the responsibility of environmental protection and take a green road.From the perspective of green development,the article examines the impact of the company's commitment to environmental responsibility on the performance,seeks internal motivation for the company to assume environmental responsibility,and promotes green development and ecological civilization.Based on the relevant theory of green development,the article analyzes the impacts of corporate environmental responsibility on performance.First of all,Analyzing the relevant concepts and theories and defining the concepts of green development,corporate environmental responsibility and financial performance.From the perspectives of sustainable development theory,information asymmetry theory,external pressure theory and benefit relevance theory,analyzing impacts of environmental responsibility on performance.Second,design empirical model,put forward three hypotheses on the basis of relevant theoretical analysis,and design the test model for the hypothesis.Again,with panel data of listed companies in China A-shares(excluding Finance,ST,and ST*)in 2008-2016,the panel data model was used to analyze the impact of the company's commitment to environmental responsibility on financial performance.The results were: The information disclosure behavior has a significant positive impact on the financial performance of the company;the impact of environmental information disclosure quality on the financial performance of the company is different in different regions;corporate attributesaffect the impact of environmental information disclosure quality on corporate financial performance.Finally,propose countermeasures for theories and results.The innovation of the article lies in the fact that under the backdrop of green development,the company's research on the impact of environmental responsibility on financial performance is still a frontier issue and closely follows hot spots.Companies in different regions and different attributes face different external pressure,external development environment and policies incentives.That has different impacts of Company Environmental Protection awareness and company's relationship between disclosure of environmental information and financial performance,that are new issues in the country.