Internal Control,Quality Of Environmental Information Disclosure And Enterprise Value

With the speed of China's economic development,environmental protection issues have gradually become more prominent.Obviously,the development model that has only one head is no longer suitable for the current development background of scarce resources.How to achieve both economic and green development is an important issue that needs to be solved urgently.Statistical research shows that 80% of China's environmental pollution is caused by enterprise development(Meng Fanli,1999).Therefore,it is of great practical significance to guide enterprises to actively fulfill their green responsibilities and realize green sustainable development.Numerous studies have shown that the environmental performance of a company is a direct performance of its environmental management,and its relationship with the quality of environmental information disclosure is significantly positively correlated(Wu Hongjun,2014;Zhang Changjiang,Zhang Ye,2019,etc.),that is,companies with excellent environmental performance The quality of the ring is also high.Huanpi,as the main communication means for enterprises to disclose information on environmental protection of enterprises to consumers,investors,government departments and other stakeholders,plays a role of issuing signals to the outside world,thereby affecting the decision-making of stakeholders.On the one hand,Huanpi can effectively reduce the information asymmetry between the company and the public,shareholders,consumers,etc.,actively transmit information about the company's active fulfillment of green environmental protection responsibilities,enhance the reputation of the company,and stabilize and consolidate the public and other stakeholders.Confidence improves the self-management and self-supervision awareness of the enterprise.On the other hand,to fulfill environmental protection responsibilities,enterprises need to make green investment,which will increase the cost of the enterprise.Therefore,many enterprises regard it as a burden and avoid green expenditure as much as possible.In reality,many companies ignore green responsibilities in pursuit of their own economic benefits.However,only fulfilling environmental protection responsibilities can promote the long-term development of enterprises and achieve the goal of continuous value creation.Therefore,exploring the relationship between ring and enterprise value has indelible practical significance in the long-term development of enterprises.In addition,the quality of internal control affects the "self-discipline" behavior of enterprises.It is explored whether it has a positive impact on the quality of Huanpi and whether it can effectively promote the transformation of Huanpi's quality to corporate value.Based on the 2012-2018 data of the heavily polluting enterprises in Shanghai,the article empirically tests the impact of the quality of the ring on the value of the company,and explores the degree of transformation of the quality of the ring on the value of the company under different lengths of time.The influence of internal control on the quality of ring-shaped piping and the moderating effect between the quality of ring-shaped piping and enterprise value are also studied.Through empirical results,it is found that the quality of ring-shaped products can significantly increase corporate value,and with the increase of the length of time,the positive effect and significance gradually increase;internal control has a significant positive effect on the quality of ring-shaped products,and Quality and corporate value have a positive regulatory effect.