Carbon Information Disclosure, R&D Innovation And Corporate Financial Performanc

At present,my country is in a critical period of transition to high-quality development,and the concept of sustainable development has been deeply rooted in the hearts of the people.As a market entity,the company plays a pivotal role in promoting the high-quality development of China’s economy,promoting economic development,and protecting the ecological environment.By disclosing carbon information,the company expands the channels for investors to obtain information,reduces information asymmetry,improves the transparency of the market,and conveys good corporate environmental protection behavior to the capital market,which can improve the company’s reputation in society and enhance the company’s reputation.Value,promote high-quality economic development,thus forming a virtuous circle.This article first uses the literature research method to summarize and collate the literature on carbon information disclosure,and then conducts demonstration and analysis based on information asymmetry theory,stakeholder theory,information transmission theory,and social responsibility theory.It also proposes research hypotheses on the relationship between corporate carbon information disclosure,R&D innovation,and corporate financial performance.Taking the data of listed companies in the heavy pollution industry of Shanghai and Shenzhen A-shares from 2019 to 2021 as the research object,this paper empirically tests the correlation between carbon information disclosure and financial performance.This article also introduces R&D innovation variables into the research,and explores the mediating role of R&D innovation in the correlation between carbon information disclosure and financial performance of Chinese enterprises based on theoretical analysis.Through empirical research,it is found that the improvement of carbon information disclosure level will significantly promote financial performance;The intermediary effect results show that increasing R&D innovation can strengthen the positive correlation between the quality of carbon information disclosure and financial performance of companies,which indicates that listed companies in heavy pollution industries in China should promote the efficient interaction and benign integration of carbon information disclosure and R&D innovation,thereby strengthening the positive impact of carbon information disclosure on corporate financial performance.Finally,the article suggests that enterprises should clarify their main responsibilities and continuously improve the environmental protection management system;The government should improve relevant policies and regulations,and strengthen the environmental awareness of enterprises;Regulators should strengthen education on environmental risks in enterprises and help stakeholders strictly regulate carbon information disclosure by enterprises.