Research On The Relationship Between Carbon Information Disclosure And Corporate Financial Performance From The Perspective Of Media Attention

With the global climate change,environmental issues have become the focus of the world economic development.The most prominent problem is the global warming and ecosystem damage caused by carbon dioxide emissions.Countries around the world have controlled carbon emissions in succession.The "30.60 goal" proposed by China also points out the new requirements for carbon to reach peak carbon neutralization.As the main body of carbon emission,enterprises are the main beneficiaries of low-carbon economy and the main bearers of carbon emission reduction.Based on this,the empirical part of this paper takes media attention as the breakthrough point,stakeholder theory,information asymmetry theory,signal transmission theory and sustainable development theory as the theoretical basis,selects the data of 100 enterprises in Shanghai social responsibility index from 2015 to 2019 as the research sample,and uses multiple regression model,This paper analyzes the relationship between carbon information disclosure and financial performance,and discusses the moderating effect of media attention on the relationship.The results show that carbon information disclosure has a positive effect on corporate financial performance,and media attention has a strong moderating effect on the relationship.In the case study,through the analysis of T company's financial performance from 2015 to 2019,and in-depth excavation of the company's carbon information disclosure,it is found that under the similar level of carbon information,the gradual increase of media attention makes the financial performance constantly improve.From point to area,it is found that the carbon information disclosure in China is still lack of integrity and comparability,and the solutions are discussed.It provides reference for the case enterprises and other enterprises in the same industry,and has certain application and practical value.This paper creatively takes the carbon information disclosed by the network media as the breakthrough point,and makes an empirical and case analysis on the relationship between the carbon information disclosure level of the constituent stocks of Shanghai social responsibility index and corporate financial performance,which enriches the empirical evidence in the research field.It is found that we should continue to cultivate the awareness of enterprise carbon information disclosure,promote more enterprises to participate in the construction and improvement of carbon information disclosure evaluation system,and make enterprises realize that carbon emission reduction will affect enterprise performance in the long run.The implementation of carbon emission reduction will have a sustainable role in promoting the survival and development of an enterprise.At the same time,we should pay attention to the supervision role of media attention,use the media information supervision mechanism to promote the systematic management of enterprise carbon information,and promote low-carbon construction.