Resignation Of Official Independent Directors And Environmental Information Disclosure

As an important manifestation of corporate environmental behavior,environmental information disclosure is essentially the effect of joint promotion between internal and external enterprises,and it is mainly based on external factors.The political connection in non-market factors occupies a crucial position in external factors.Studies have found that political connections are significantly negatively correlated with environmental information disclosure.The paper takes the slogan of the resignation of the official directors in the 18 th article of the Central Organization Department on strictly restricting the appointment of party and government leading cadres in the listed companies(part-time),from the perspective of weakening political relations,to study the resignation of the official director The mechanism of action on environmental information disclosure.On the basis of reviewing the relevant documents of officials' independent directors,political connections and environmental information disclosure,the thesis resigns and the environment of the officials' independent directors according to the theory of resource support theory and agency theory,voluntary disclosure theory,the theory of “supporting hands” and the theory of “the hand of plundering”.The relationship between information disclosure is theoretically combed and research hypotheses are proposed.The paper selects the Shanghai-Shenzhen A-share heavily polluting listed company in 2010-2017 as the research object,and uses the double difference model(DID)to study the net effect of the resignation of the independent director on the environmental information disclosure.It is found that the resignation of the official director can significantly increase the environmental information disclosure..On this basis,the dynamic regression of the resignation of the official director and the disclosure of environmental information was carried out.In addition,the papers are divided into four groups: the nature of the enterprise,the level of corporate governance,the level of executives' independent management,and the level of corporate executives' political connections.The double difference model is used to further explore the differences in the impact of the resignation of officials' independent directors on environmental information disclosure..The study found that the role of the resignation of the official director in the environmental information disclosure of state-owned holding companies is more significant;from the perspective of corporate governance,the higher the separation of the two positions,the more concentrated the shareholding structure,and the In terms of the executive level,compared with the lower administrative level,the higher the administrative level of the official director,the more significant the promotion of environmental information disclosure;and the discovery of the level of political association of the executives will inhibit the officials to a certain extent.The incentive role of the resignation of the independent director for environmental information disclosure.In order to enhance the robustness of the conclusion,this paper also uses the tendency matching score method to further test.It is found that the resignation of the official director is indeed positively correlated with the environmental information disclosure.In addition,the types of environmental information disclosure are classified into hard information disclosure and soft information disclosure,so that the effect of the resignation of the official director on the "hard disclosure" is more significant.Finally,the net effect of the independent director's appointment and environmental information disclosure was found to be significantly negatively correlated.Finally,starting from the research conclusions,the paper puts forward suggestions for improving corporate governance,improving legal system construction,strengthening government supervision and strengthening market mechanism.The innovation of the thesis is mainly explained in the following two aspects.On the one hand,the paper supplements the relevant research content of weakening political relations and environmental information disclosure,so that it's research results can keep pace with the time.On the other hand,because the predecessors have neglected the political relationship.The paper timely supplemented the official of independent directors.Relevant content of political relations,and provide empirical evidence on its mechanism for environmental information disclosure,and also provide guidance for improving the structure of independent directors.