The Study On The Impact Of The Environmental Protection Tax Law On The Quality Of Accounting Information Of Listed Heavy Polluters

The quality of accounting information in the capital market is the focus of long-term attention and research of experts and scholars,accounting standards and accounting regulations require listed enterprises to provide high-quality accounting information to the public,and listed enterprises can also attract investors and meet the needs of other stakeholders with high-quality accounting information;At the same time,high-quality accounting information has the effect of reducing agency costs,alleviating agency problems,avoiding "tunnel mining",and improving resource allocation efficiency.In recent years,accounting fraud incidents of listed companies such as Blue Mountain Technology,Huaze Nickel and Cobalt,Yu Diamond and Kangmei Pharmaceutical have emerged one after another,which has aroused widespread concern from all walks of life.China’s regulatory authorities continue to regulate and guide the disclosure of accounting information at the level of laws and regulations,but the falsification of accounting information has been repeatedly prohibited.Disclosure of high-quality accounting information is an important prerequisite for the survival and development of listed enterprises.Chinese scholars have mainly studied the quality of accounting information from the perspective of internal factors and formal systems,but the impact of other external factors on the quality of accounting information is still relatively small.This paper selects a new perspective to carry out the research on the impact on the quality of accounting information.Therefore,another important variable in this article is introduced:the promulgation of the Environmental Protection Tax Law,and the introduction of the Environmental Protection Tax Law is a new factor affecting the quality of accounting information.With the gradual attention of the government and the people to environmental protection issues and the introduction of the Environmental Protection Tax Law,the environmental protection responsibilities of listed enterprises have gradually become heavier.Since the development of society,profit maximization as the earliest financial management goal is no longer applicable to the development needs of contemporary enterprises,the current listed enterprises usually take "enterprise value maximization" and "stakeholder benefit maximization" as the new financial management goals to guide the development path,then the social responsibility of enterprises is particularly important.Considering that not all listed enterprises are taxpayers of environmental protection tax,and that the Shenzhen Stock Exchange disclosed the accounting information quality rating of its listed enterprises,this paper selects the heavy polluting enterprises among the listed enterprises on the Shenzhen Stock Exchange as the research object,takes the listed enterprises on the Shenzhen Stock Exchange in China from 2013～2021 as the research sample,quantifies the quality of the accounting information of the listed enterprises on the Shenzhen Stock Exchange,and then selects the relevant control variables for regression analysis.Firstly,this paper obtains the impact of the promulgation of the Environmental Protection Tax Law on the quality of accounting information of heavily polluting listed enterprises through data,and then analyzes it based on the regression data.Next,four group hypotheses are set up,and four variables are selected to further study and explore the impact of the Environmental Protection Tax Law on the quality of accounting information of heavily polluting listed enterprises,and the cause analysis of different group test results.After the empirical analysis,this paper will also put forward relevant suggestions at the national and enterprise levels,aiming to improve the quality of accounting information of heavily polluting listed enterprises(hereinafter weighed polluting enterprises)and the implementation effect of the Environmental Protection Tax Law.