| The more public pay attention to environmental protection and the environmental regulation is intensive,the more corporations are facing higher environmental legitimacy demand.It is the best choice for enterprises to seek legitimacy that increasing the scale of environmental protection funds and improving their own environmental performance.According to the signal theory,enterprises with good environmental performance are more inclined to convey positive signals to the public,so as to distinguishing them from other enterprises with poor environmental performance.The corporation can convey positive signal by disclosing more high-quality environmental information.Therefore,it has a practical significance to explore the relationship between these two variables.As an enterprise environmental decision,the level of enterprise environmental information disclosure is bound to be influenced by the background characteristics of executive team.Hence,it is also important to explore that how the characteristics of executive team affect the relationship between environmental investment and the quality of enterprise environmental information disclosure.Therefore,taking 152 high-pollution industries in Shenzhen A-shares from 2009 to 2017 for samples,this thesis explores the relationship between corporate environmental investment and corporate environmental inform disclosure.It also introduces the top management team to the model and discusses the mediating effect of the top management team on the relationship between the corporate environmental investment and corporate environmental inform disclosure.Through the empirical research,this thesis finds that environmental investment can promote corporate environmental inform disclosure,and the top management team have mediating effect on the relationship of them.The average age,level of education,tenure of top management and can significantly promote the positive correlation between the corporate environmental investment and corporate environmental inform disclosure.Overseas background of top management has a positive but not significant effect on the relationship of them.Hence,it is suggested that enterprises should constantly strengthen the sense of environmental responsibility and expand the scale of environmental investment;pay more attention to the establish of executive team and optimize the value of executive talent team.It is also recommended that government regulatory authorities should improve the environmental disclosure system and keep strictly the rules for reward and punishment.What this thesis may have the possible contributions are as follows.(1)Based on the theory of signal transmission,the thesis explores the environmental performance of environmental investment from the perspective of enterprise environmental information disclosure;(2)Expanded the research content of executive team characteristics by introducing it into the environmental consequences of environmental investment. |
