Research On The Impact Of Executive Compensation Incentives In Resource—Based Enterprises On The Quality Of Environmental Information Disclosure

With the green development of the economy and the deeply rooted concept of the goals of carbon peaking and carbon neutrality,environmental protection issues in China have received much attention.Enterprises,especially resource enterprises that are highly dependent on resource development,as an important part of their green development,not only need to actively conduct environmental governance,but also timely disclose high-quality environmental information,which not only meets the environmental regulatory requirements of the government,but also can display a positive image of the enterprise’s emphasis on environmental protection.While senior executives have greater decision--making power over environmental information disclosure in resource-based enterprises,can executive compensation incentives,as one of the effective methods to restrain senior executives,to a certain extent enable them to abandon personal opportunism,make environmental decisions conducive to the development of the enterprise,and disclose high-quality environmental information to the outside world? At the same time,with the increasing intensity of external environmental regulation,will it affect the relationship between executive compensation incentives and the quality of environmental information disclosure?Based on this,this article firstly sorts out and summarizes the literature on environmental information quality and executive compensation incentives,leading to the research theme of this article;Secondly,by analyzing the current situation of executive compensation incentives and the quality of environmental information disclosure in resource based enterprises,this paper points out the existing problems in the quality of environmental information disclosure in resource based enterprises in China,and proposes the research assumptions of this article based on principal-agent theory and legitimacy theory;On this basis,we construct a main effect model and a regulatory effect model to empirically test the impact of executive compensation incentives on the quality of environmental information disclosure in resource based enterprises,as well as the regulatory and threshold effects of environmental regulations on executive compensation incentives and the quality of environmental information disclosure,as well as heterogeneity analysis.Through research,this article draws the following conclusions:(1)Resource based enterprise executive compensation incentives are conducive to promoting the improvement of the quality of enterprise environmental information disclosure,and this promotion effect is only significant in non-state-owned enterprises,enterprises in the central and western regions,and enterprises with high industry competition;(2)Environmental regulations have a significant positive reinforcement effect on the relationship between executive compensation incentives and the quality of corporate environmental information disclosure,and the positive reinforcement effect of environmental regulations is more evident in non-state owned enterprises,enterprises in the central and western regions.The negative inhibition effect of environmental regulations is more evident in enterprises with low degree of industry competition;There is also a single threshold effect in environmental regulation.When the intensity of environmental regulation reaches a single threshold value of 0.078,the positive reinforcement effect of environmental regulation is the best.Based on the research conclusions,this paper proposes the following recommendations: The government should accelerate the construction of a unified environmental information disclosure system,further standardize the environmental information disclosure of enterprises,and improve the level of environmental information disclosure of resource based enterprises;At the same time,establish an effective reward and punishment mechanism for the environmental information disclosure behavior of resource based enterprises,and promote enterprises to actively disclose high-quality environmental information;Based on the differences in regulatory effects of environmental regulations,the government should implement environmental regulatory policies in accordance with local conditions,so as to ensure that resource-based enterprises can fulfill their environmental responsibilities in accordance with laws.For the resource enterprise industry,it is necessary to strengthen the institutional construction of enterprise environmental information disclosure within the industry,further standardize the disclosure of environmental information within the industry,and improve the level of environmental information disclosure.For resource enterprises themselves,they should actively build a scientific and reasonable incentive mechanism for senior executives,encourage senior executives to actively assume social responsibility,and improve the quality of corporate environmental information disclosure.