Environmental Performance, Environmental Information Disclosure Quality And Corporate Value

Under the background of economic globalization,China's economy has made rapid development.At the same time,it has also brought very serious environmental problems.With people's deepening understanding of the concept of sustainable development,the public's pay more attention to the environment.Therefore,the environmental information disclosure of enterprises is getting more and more attention from the public.At the same time,the government has put forward very strict requirements for environmental protection.Heavily polluted enterprises have played a vital role in promoting China's economic development.Compared with other industries,it causes more serious harm to the environment.Under such social background,this paper chooses heavily polluted enterprises as the research object to explore the interaction between environmental performance of listed companies,quality of environmental information disclosure and enterprise value.As far as the national system is concerned,this study not only enriches and develops the contents and conclusions of the relationship between the three at home and abroad,but also further promotes the rationality and standardization of the environmental information disclosure system in China and promotes the establishment of a more healthy and efficient quantitative system for environmental oerformance evaluation.As far as listed companies are concerned,this study provides strong evidence that environmental information disclosure of listed companies helps to enhance the value of enterprises,which is of great significance to promote enterprises to further fulfill their environmental responsibility and enhance their image and value.This paper attempts to explore the interaction between environmental performance,environmental information disclosure quality and enterprise value of enterprises in heavy polluting industries in China,and to find ways and motives to promote enterprises to improve environmental information disclosure quality and environmental performance,on the basis of which feasible suggestions are put forward.Firstly,this paper elaborates the research background and significance of the article.Then,it summarizes the research and exploration of environmental performance,environmental information disclosure quality and enterprise value by scholars at home and abroad in recent years.Then it clarifies the concepts of environmental performance,environmental information disclosure quality and enterprise value,and clarifies the theoretical basis of this paper.Then,based on the research of environmental performance,environmental information disclosure quality and enterprise value,it summarizes the research and exploration of environmental performance,environmental information disclosure quality Based on the current background,this paper explains the current situation of environmental information disclosure and enterprise environmental performance in China.On this basis,the hypothesis of this study is put forward and the regression model is constructed.This paper selects the data of Listed Companies in heavy polluting industries in Shanghai and Shenzhen Stock Exchanges from 2013 to 2017 as samples,and uses SPSS analysis software to test the sample data.This paper chooses appropriate measurement indicators as alternative variables to analyze and study the heavy pollution industry enterprises in China,and draws relevant conclusions on this basis.The main conclusions are as follows:(1)Environmental performance of enterprises in heavy pollution industries is positively correlated with enterprise value;(2)The correlation between environmental performance and enterprise value is lagging behind;(3)Environmental information disclosure quality and enterprise value of Listed Companies in heavy pollution industries are positively correlated;(4)Environmental information of enterprises with good environmental performance is draped under other conditions unchanged.The influence of dew quality on enterprise value is more obvious.Finally,based on the above discussion,this paper puts forward the following policy recommendations:(1)strengthen the level of environmental management through relevant environmental certification;(2)increase environmental expenditure to promote technological innovation;(3)pay attention to the quality of environmental information disclosure and enhance the environmental reputation of enterprises.