Traditional Culture,environmental Regulation And Carbon Information Disclosure

In recent years,the development of human economic activities has brought about extreme climate problems,in which excessive carbon emissions have in turn severely restricted human economic activities.Therefore,low-carbon emission reduction has gradually become a major concern for all parties at home and abroad.Internationally,the "Kyoto Protocol" clearly defined the statutory limit of carbon emissions and the specific implementation methods for countries to cooperate in completing low-carbon emission reductions.International carbon trading markets and mechanisms have also been gradually built;China has also attached great importance to the issue of carbon emissions reduction,the carbon trading pilots in seven provinces and cities were formally launched in 2013,and the national carbon trading market was established in 2017.Carbon information disclosure has become an important worldwide accounting management activity.Under this background,as the main body of carbon emissions,enterprises should assume more environmental responsibility and need to strengthen emission reduction management so as to improve the level of carbon disclosure.At present,China has enacted laws related to environmental protection,such as the Environmental Protection Law,which impose mandatory restrictions on the polluting behavior of heavily polluting enterprises and has guided the disclosure of environmental information.The Law on the Prevention and Control of Atmospheric Pollution was promulgated in 2015 and requires companies to closely monitor the emission of atmospheric pollutants.In 2016,the “13th Five-Year Plan for Controlling Greenhouse Gas Emissions” proposed to control carbon emissions from the total amount.According to the institutional theory,the system will restrict the behavior and choice of economic organizations.Therefore,the enactment of the environmental system will have a strong influence on the key economic decision-making of the company,and it will undoubtedly form a formal system pressure on the carbon information disclosure of the company.In countries such as China,which are deeply influenced by religious rites,the informal system will also exert influence on people’s behavior choices.When the informal system can supplement and strengthen the formal system,the influence and restraint of the formal system on economic organizations can be better exerted.First of all,this article reviewed and combed domestic and foreign scholars and defined the concept of the three indicators,and then elaborated the relevant theoretical basis.This article selected seven heavily polluting listed companies in carbon-trading provinces and cities between 2013 and 2016 as the research object,and adopted an empirical method of multiple regression analysis to study the impact of environmental regulation and traditional culture on the disclosure of carbon information,as well as traditional cultural energy.Whether it complements environmental regulations or not,and urge companies to improve their carbon disclosure.Among them,the company’s carbon disclosure level is manually scored according to the evaluation system.Environmental regulation integrates multiple indicators and is obtained through principal component analysis.Traditional culture is measured by the number of national key temples within a certain range of listed companies.Ultimately,the main findings of this paper are: Environmental regulation can positively promote the level of carbon disclosure.Compared with low-carbon emissions industries,companies in high-carbon emissions industries more comply with environmental regulations and choose to disclose more;The more traditional culture,the higher the carbon disclosure level of enterprises,and the higher carbon emission industry enterprises are more susceptible to traditional culture and improve their carbon disclosure level,but this positive correlation is not significant in the low carbon emission industry;as a non-formal system,traditional culture can form a complementary effect with the formal system,thereby strengthening the positive role of environmental regulation in the level of carbon disclosure,and compared with the low-carbon emission industry,this complementary effect is more significant in the high-carbon emission industry.Taking property rights into account,this paper also conducted further analysis and found that both environmental regulation and traditional culture have a positive role in promoting the level of carbon disclosure in state-owned enterprises;both the state-owned and non-state-owned enterprises,traditional culture and environmental regulation have a significant complementary effect on the disclosure of carbon information,but this complementary effect is more pronounced in the state-owned enterprises.Based on the conclusions,the paper proposes provides empirical evidence for the research on carbon disclosure to a certain extent.At the same time,it also provides a theoretical basis for how to carry out environmental system construction in various regions to improve the level of carbon information disclosure of enterprises,and how government departments can strengthen traditional culture education to guide enterprises’ low-carbon environmental protection behaviors.We hope to achieve low-carbon green transformation and ensure the establishment and development of China’s carbon trading market.