A Study On The Linkage Effect Of Stakeholders On Environmental Information Disclosure Of Rare Earth Enterprises

The "industrial vitamin" rare earth,as a precious strategic resource widely used in civil and military fields,is an important raw material indispensable for new energy,advanced equipment manufacturing and other emerging industries,with strong irreplaceability.The sustainable development of rare earth enterprises in the context of "double carbon" target and ecological civilization construction has attracted great attention from all walks of life,and how to effectively protect and reasonably develop rare earth resources is a national strategic issue.In the era of big data information,the lack of environmental information is seriously at odds with the massive information resources,and the environmental information gap has become a bottleneck restricting the green development of enterprises.Environmental Information Disclosure(EID),as an important corporate environmental management system,is not only an important way for companies to communicate with stakeholders,but also a fundamental part of the ecological civilization system.Existing research mostly explores the impact factors and performance of EID,but less studies the impact path of enterprise EID,and the analysis of the impact path of EID of rare earth enterprises is even more lacking.At present,mining industry as a highly polluting industry still has the problems of simple EID disclosure,excessive use of non-financial environmental information "bleaching green",etc.The EID of rare earth enterprises also has the problems of single disclosure carrier,weak will,low level,uneven disclosure content,etc.The company’s internal environmental management involves many stakeholders.Among them,corporate EID is generally a complex dynamic system that is subject to pressure from multiple parties.Based on this,the study uses Fuzzy Set Qualitative Comparative Analysis(fs QCA)to explore the integrated role and grouping path of multidimensional stakeholders on EID of rare earth enterprises from the perspectives of government,regulators,creditors,shareholders,consumers and the public.The specific characteristics and dynamic changes of EID of listed rare earth enterprises are analyzed from the perspectives of grouping relationships,influencing subjects,and enterprise heterogeneity,and the characteristics and reasons of vertical path changes of four typical enterprises,including Ningbo Yunsheng,Tiantong,Northern Rare Earth and Xiamen Tungsten,are analyzed in depth.It is found that:(1)the core conditions of the EID influence path of rare earth enterprises in China in 2017-2018 involve gradually decreasing types of subjects;(2)The multiple concurrent nature of the influencing factors of EID,where different grouping conditions can complement or even replace each other;(3)In the context of "double carbon",the influence of the government and the public on EID is gradually increasing,while the effect of the role of the remaining stakeholders needs to be improved.Meanwhile,the impact path of EID of rare earth enterprises shows some heterogeneity depending on the nature of enterprise equity.Finally,the article proposes management insights from two aspects,namely,the construction of environmental information disclosure-related systems and the promotion of multi-dimensional stakeholder collaboration,which are important for improving the EID level of rare earth enterprises.