Research On The Impact Of China Shenhua Carbon Information Disclosure Quality On Enterprise Value Under Media Attention

With the rapid development of world industrialization,the conflict between economic growth and the environment is also increasing,so building an environmentally friendly economy is gradually becoming a consensus in the world.As the world’s largest developing country,China’s carbon emissions have always been a focus of concern for all parties around the world.Effective regulation of corporate carbon information disclosure not only helps to reduce the risk of information asymmetry,promote rational decision-making by investors,but also serves as a sharp edge in promoting the development of China’s low-carbon economy.For users of carbon trading information,efficient disclosure of carbon emissions information is particularly important.In this process,the role of the media becomes particularly important.The media is the medium for disseminating information and an important platform for the public to obtain information and learn knowledge.At the same time,the media plays a role in guiding public opinion and external market supervision in the sustained development of enterprises and the development of market economy.This article selects China Shenhua Energy Co.,Ltd.as the research object.Based on signal transmission theory,sustainable development theory,and stakeholder theory,literature research and case study methods are used to study the impact of China Shenhua Carbon Information Disclosure Quality on corporate value from the perspective of media attention.The method of comparative analysis of indicator trends is used,Test the impact of China Shenhua’s carbon information disclosure quality on corporate value and the impact of media attention on the relationship between carbon information disclosure quality and corporate value.Research has found that the quality of carbon information disclosure in China Shenhua has a certain positive promoting effect on its corporate value,that is,as the quality of carbon information disclosure improves,the corporate value will also increase accordingly;And found that media attention has a positive promoting effect on the quality of carbon information disclosure and corporate value.On the one hand,the media alleviates the information asymmetry phenomenon between enterprises and the public through its role as an intermediary for information collection and dissemination;On the other hand,the media,through its function as an external supervisor,enables enterprise managers to reduce the occurrence of opportunism based on public pressure,which in turn makes the corporate governance environment more standardized,reduces stakeholders’ adverse selection,and reduces managers’ moral hazard,thereby reducing corporate risk,facilitating the value transformation process of carbon information disclosure,and actively promoting the value effect of carbon information disclosure quality,To enhance the value of the enterprise.