Analysis On Motivation And Economic Consequences Of Henan Shenhuo Coal﹠Power Co.,Ltd’s Environmental Information Disclosure

In recent years,the CPC Central Committee has put forward major national strategies such as the Yangtze River Economic Belt development strategy,the Yellow River Basin ecological protection and high-quality development strategy,and the Yangtze River Delta regional integrated development strategy.Environmental protection has been a priority in all major strategies,calling for prioritization of the ecological environment and the belief that clear waters and lush mountains are invaluable assets.In the course of taking a foothold in the new stage of development,implementing the new development concept,constructing a new development pattern and responding to major national strategies,the environmental protection has aroused widespread social concern.Enterprises are an important subject for the implementation of major national strategies,the main source of environmental pollution,and the firm support of the national economy.Enterprise environmental information disclosure not only responds to the requirements of national environmental policies,but also helps government departments and other stakeholders to accurately grasp the real situation of enterprise environmental performance.Non-ferrous metal smelting and rolling processing industry enterprises are essential basic industrial enterprises in China’s important national economy,people’s daily life and the development of national defense industry science and technology.If non-ferrous metal smelting and rolling processing enterprises want to avoid being eliminated and achieve high quality development in the development tide of industry structure adjustment,mode transformation and promotion,it is necessary to clearly understand the motivation and existing problems of enterprise environmental information disclosure,and understand the economic consequences of enterprise environmental information disclosure behavior.This paper taking Henan Shenhuo Coal﹠Power Co.,Ltd as a case company studies the motivation and economic consequences of enterprise environmental information disclosure based on the theories of legality,external pressure,stakeholders,information asymmetry and signal transmission on the basis of relevant researches at home and abroad.Firstly,qualitative and quantitative analysis is made on the environmental information disclosure of Henan Shenhuo Coal﹠Power Co.,Ltd from two aspects: the content of environmental information disclosure and the construction of environmental information disclosure scoring system.Secondly,based on the above analysis to find the problem of Henan Shenhuo Coal﹠Power Co.,Ltd’s environmental information disclosure,and further explore the motivation of its environmental information disclosure.Thirdly,the paper makes a longitudinal in-depth analysis of the economic consequences of environmental information disclosure on Henan Shenhuo Coal ﹠ Power Co.,Ltd’s financial performance,financing situation and enterprise value.Fifth,Shandong Humon Smelting Co.,Ltd,the benchmark enterprise of Henan Shenhuo Coal﹠Power Co.,Ltd’s environmental information disclosure,was selected as the comparison enterprise to conduct a horizontal comparative analysis of the impact of environmental information disclosure on enterprise financial performance,financing situation and enterprise value.Finally,the paper concludes that the low-quality environmental information disclosure will have a negative impact on the development of enterprises,and puts forward countermeasures on how to further improve the level of environmental information disclosure.