Research On The Influence Of TMT Characteristics To The Carbon Disclosure Quality

Under the dual pressure of emission structure adjustment and green economic development concept,how to mobilize the enthusiasm of enterprises to improve the quality of carbon information disclosure is the theoretical and practical community to solve the primary problem.In the research of the influencing factors of carbon information disclosure,some studies use carbon information disclosure project(CDP project)as samples to analysis this influence from corporate characteristics(such as enterprise value,carbon emissions,etc.)and corporate governance(such as equity structure,the proportion of the largest shareholder holdings,the size of the board,etc.),but the management of this subjective factors is paid little attention.After the Upper Echelons Theory was raised,a large number of empirical studies shows that the demographic background characteristics of the top management team(TMT)can affect the strategic decision-making of the enterprise and information disclosure quality of social responsibility,but the conclusion is not uniform.This may lie in that the previous research mainly study from the single feature,ignoring the potential impact of other members of the characteristics and the coordination between multiple features.At the same time,as part of the disclosure of social responsibility information disclosure,the carbon information disclosure is currently a voluntary disclosure.From the existing social responsibility information disclosure research,it cannot clearly understand which characteristics of the TMT will influence the quality of carbon information disclosure.In order to compensate for the shortcomings of the executive team's single features and to identify which characteristics of the TMT will affect the quality of carbon information disclosure,based on the upper echelon theory,Maslow's hierarchy of needs,signal transmission theory and Lau and Murnighan's faultlines theory.At the same time,taking into account the potential impact of the external institutional environment,the influencing factors of the nature of enterprises are introduced and the impact of different team characteristics on the quality of carbon information disclosure under different enterprise properties is further studied.Based on the relevant data of Shanghai and Shenzhen Social Responsibility 100Index's Companies,the impact of TMT characteristics and carbon disclosure quality in the concept of green development are empirically investigated.Firstly,the influence of the single characteristics of the TMT on the quality of carbon information disclosure is explored.Secondly,the effect of the TMT fault on the quality of carbon information disclosure from the perspective of the fault is explored.Finally,The sample will be grouped according to the nature of the enterprise,and the differences of the influence of the TMT characteristics on the quality of carbon information disclosure were studied under different firm characteristics.The empirical results show that the proportion of female managers,the number of worked and the average tenure,are the main features to influence the enterprises' carbon disclosure quality.Secondly,when added the TMT faultlines,it is found that information recognition faultlines can improve the carbon disclosure quality.Meanwhile,considering the influence of the nature of enterprise,the results indicate that the relationship between TMT background characteristics and carbon disclosure quality is different under different nature of enterprise.So we recommend that: on the one hand,companies adjust the age and sex ratio of TMT,and improve the proportion of female executives to play the superiority of female executives in the quality of carbon disclosure,on the other hand,fully exploit the heterogeneity information resource among the sub teams in the TMT and strengthen the communication to improve the quality of the carbon information disclosure.