Research On The Impact Of Environmental Information Disclosure In The Mining Industry On Financial Performance

The government is emphasizing the importance of "harmonizing economic development with environmental protection" while stressing the enormity of environmental protection.The research of the impact of corporate environmental disclosure on financial performance seeks to find a balance between the two in order to achieve better quality and sustainable development.The mining industry is the main force of industrial growth in China,and is also one of the most polluting industries that needs to be focused on.Therefore,it is of theoretical and practical significance to study the impact of environmental information disclosure on the financial performance of listed companies in China’s mining industry.In view of this,the thesis explores the impact of environmental information disclosure on financial performance in China’s mining industry,taking A-share listed companies in the mining industry as the research object.Based on the Guidelines on Environmental Information Disclosure for Listed Companies(Draft for Public Comments)and the Sustainability Reporting Framework,a set of environmental information disclosure evaluation system with characteristics of the mining industry is constructed;content analysis is applied to assign values to the indicators in the system;panel data regressions were conducted on a sample of 78 mining listed companies with a total of 390 observations;following this,Yanzhou Coal was selected as a case company to investigate how environmental information disclosure affects the financial performance of specific companies,supported by the technical foundation and data of the industry study.The impact of environmental information disclosure on financial performance in the mining industry is explored by combining the industry study with the case study.Firstly,the analysis of the full sample data found that: environmental information disclosure by mining companies has a significant positive impact on financial performance;at the same time,Chinese mining companies are paying more and more attention to environmental information disclosure,but the overall willingness to disclose is low and needs to be further enhanced.Secondly,a case study of Yanzhou Coal concluded that Yanzhou Coal’s environmental information disclosure has a positive effect on its financial performance;the quality of Yanzhou Coal’s environmental information disclosure has improved year on year and has been in the upper middle of the industry in the last two years,but there are still problems with the overall lack of willingness to disclose,the poor quality of some specific indicators and the fragmentation of environmental information disclosure.Based on the above analysis,the thesis proposes the following countermeasures:(1)for the mining industry as a whole,the government should strictly regulate the environmental information disclosure system of enterprises,adopt differentiated incentives and penalties in regulation,and external investors should take the environmental information disclosure performance of enterprises into account in their investment.(2)In the case of Yanzhou Coal,it is recommended that it improve its environmental information disclosure by increasing awareness of its social responsibility,improving its governance structure and establishing a sound corporate environmental information disclosure system,thereby promoting its financial performance and moving towards harmonious environmental and economic development...