CEO Career Concerns And Corporate Environmental Information Disclosure

Environmental protection is the focus of global attention.The China's environment is currently deteriorating,and the haze is becoming a big threat to public health.Meanwhile,the public's environmental awareness has been gradually improved.Industrial pollution is one of the main causes of environmental degradation.Most countries in the world do not compel companies to disclose environmental data.In China,only those listed companies heavy polluting enterprises are required when they suffer serious events or issue Shares.Naturally,we may have questions about it.For example,why more and more companies volunteer to disclose environmental information now?How much impact would be had on disclosing environmental information under CEO's intention?Will the differences in CEOs' career concerns lead to different levels of corporate environmental disclosure?Based on the above discussion,We select 2011 samples of A-Share heavily polluting industries from 2009 to 2013,and construct a model to measure the relationship between the CEOs' career concerns and the level of corporate environmental information disclosure.This paper is divided to five parts.The first chapter introduce the background,meaning,content and framework of the research.The second chapter reviews the domestic and foreign research on the motivation of environmental information disclosure and the research on the career concern of senior executives.The third chapter puts forward the hypothesis of this paper by theoretical analysis and logical argumentation.,and introduces data source,sample constitution and related variables.The fourth chapter presents descriptive statistics,correlation coefficient test of the sample pool,and the OLS empirical results of the four research hypotheses.Empirical results show that the relationship between CEO career concern and corporate environmental disclosure is inverse U-shaped,and the inverse U-shaped relationship is significant when the CEO is in a state-owned enterprises,or when the CEO does not serve as chairman;the inverse U-shaped relationship is more significant when the CEO is highly educated.And the older CEO who worked in the companies with good efficiency will slowly reduce the level of corporate environmental disclosure.Moreover,an incoming CEO who worked in the non-state-owned enterprise will significantly reduce the corporate environmental disclosure.The fifth chapter is the summary of this paper,pointing out the research conclusions,limitations and future research direction.