Research On Environmental Information Disclosure Of Listed Companies In Heavy Polluting Industries

The construction of ecological civilization is a major strategy of China.Achieving green development and building beautiful China has become the goal of China's high-quality development.How to alleviate ecological crisis,curb Environmental pollution and achieve green and low-carbon development have become an urgent problem for the whole society.As an economic entity that consumes natural resources and discharges pollutants,enterprises are the backbone of social responsibility and environmental protection obligations.At the present stage of advocating ecological civilization construction,corporate environmental information disclosure has gradually become a topical issue in accounting theoretical research.The Ministry of Environmental Protection and the China Securities Regulatory Commission issued a series of rules and regulations for the disclosure of environmental information of listed companies,clearly stating that listed companies in heavy polluting industries must disclose environmental information,and other industries implement voluntary disclosure.However,the quality of environmental information disclosure in China is currently poor.How to encourage enterprises to actively fulfill their energy conservation and improve the quality of environmental information disclosure has become a key link in the construction of ecological civilization.Therefore,this thesis takes the disclosure of corporate environmental information as the starting point,and explores the internal mechanism of corporate environmental information disclosure behavioral selection.Top management team is the core of leadership that controls corporate.It has a decisive influence on corporate strategic decision-making and behavior choice.Management ability,as a comprehensive expression of top management team quality,can reflect management group decision-making.This thesis takes the management ability as the entry point to explore its impact on enterprise environmental information disclosure.Enterprises are not only affected by formal institutions,but informal institutions also play an important role.Therefore,this thesis introduces the informal system as a regulatory variable,proposes the power distance based on Chinese traditional culture,proposes the marketization process based on ideology and social norm,and explores the adjustment effect of power distance and marketization process.This thesis explores the impact of management ability on environmental information disclosure decisions under the influence of the informal system,and comprehensively reveals the formation mechanism of listed companies' environmental information disclosure behavior choice.First of all,this thesis takes the upper echelon theory,informal institutional theory,reputation theory and legality theory as the theoretical basis.Through theoretical derivation and logical reasoning,the management ability is divided into management motivation and management talent two aspects,in-depth exploration of its impact on the choice of corporate environmental information disclosure behavior,from the micro level to explore the importance of the top management team.At the same time,based on the China's traditionalculture and market-oriented reform,combined with the characteristics of the informal system,respectively proposed two adjustment variables which is power distance and marketization process.Then explore what role does it play between management ability and corporate environmental information disclosure.Meanwhile we propose the research hypothesis of this thesis.Secondly,based on the Environmental Information Disclosure Measures(Trial)and other regulations,design corporate environmental information disclosure evaluation indicators.By viewing through the annual financial report,social responsibility report and sustainable development report,to analysis the status of environmental information disclosure of listed companies in heavy polluting industries.Further,draw on existing academic achievements and corporate environmental information disclosure,design environmental accounting system and environmental information report,and expand the practical application of environmental accounting.Thirdly,the panel data model is selected as an empirical method.Through F-test and Hausman test,choose fixed effects model to test the correlation between management ability and corporate environmental information disclosure.The empirical results show that management ability can positively improve the quality of corporate environmental information disclosure,while power distance will inhibit the positive correlation between them,and the marketization process will strengthen the positive correlation between them.Furthermore,we use the substituted variable to test,and the test conclusions are consistent.Finally,by summarizing the current situation of environmental information disclosure and empirical research conclusions,this thesis proposes relevant countermeasures from the perspectives of government,enterprise,market and third-party organization to encourage enterprises to fulfill environmental responsibilities,standardize environmental information disclosure behavior,improve the quality of environmental information disclosure,and jointly build a green and low-carbon society.