Research On The Impact Of Environmental Accounting Information Disclosure Of Listed Companies In The Chemical Industry On Enterprise Value

In recent years,China’s economic development has made great progress,but the rapid economic development has also caused a lot of serious environmental problems,the environmental accounting information disclosure of enterprises is an effective way to convey their own environmental governance.Chemical industry is energy and material consumption intensive industry,the production link will produce a lot of waste.The disclosure of environmental accounting information in this industry has aroused public attention,but the current situation of environmental accounting information disclosure in this industry is not optimistic.Based on this,this study takes listed companies in the chemical industry as the research object to study the impact of environmental accounting information disclosure on enterprise value.The research content is of great significance for improving the level of environmental accounting information disclosure and enterprise value in the entire chemical industry.On the basis of reading relevant literature and drawing on previous studies,this paper takes stakeholder theory,social responsibility theory and information asymmetry theory as the theoretical basis.By combing industry listed company nearly four years of environmental accounting information disclosure content and ways,in-depth analysis of the environmental accounting information disclosure of the status quo,analysis of the current industry environment accounting information disclosure of listed companies exist inadequate disclosure of information,not the main reason is that the disclosure of the government management is weak,the management consciousness exists in avoiding sex,lack of social public supervision.For further to explore the effects of environmental accounting information disclosure of enterprise value,from the perspective of stakeholders,this paper theoretically analyzes the environmental accounting information disclosure mechanism of the impact of enterprise value,accordingly puts forward "environmental accounting information disclosure is likely to increase enterprise value" of the research hypothesis,using the multivariate regression model for validation.The results show that there is a negative correlation between environmental accounting information disclosure and enterprise value,which is contrary to the original hypothesis.The reasons for the contrary hypothesis are analyzed.Enterprise scale,growth rate of main business and proportion of independent directors are positively correlated with enterprise value.The nature of equity and financial leverage are negatively correlated with enterprise value.Based on the above research results,this article from three aspects:government,enterprise,society,respectively,puts forward the content and the method for standardizing the environmental accounting information disclosure of the relevant countermeasures and Suggestions,in order to improve the industry level of environmental accounting information disclosure of listed companies,strengthen its positive effect on corporate value,promote the whole society to the attention of the environmental accounting information disclosure.The innovation of this paper lies in the innovation of research perspective.First of all,the current academic research on environmental accounting information disclosure mainly focuses on the whole heavy pollution industry,while the research on a specific industry segment is relatively few,and most of the research focuses on the influencing factors of environmental accounting information disclosure and its impact on financial performance.Secondly,there are few empirical studies from the perspective of enterprise value,and there is no unified conclusion.Based on the previous research results,this paper takes listed companies in the chemical industry as the research object,discusses the impact of environmental accounting information disclosure on enterprise value,and finds out the internal relationship between the two,so as to achieve the purpose of improving enterprise value through sufficient environmental accounting information disclosure.