Research On The Impact Of Environmental Accounting Information Disclosure On Corporate Value Of Fengzhu Textile

With the rapid development of China’s economy and technology,the country is paying more and more attention to the construction of ecological civilisation.In response to the government’s call,companies are firmly establishing and effectively implementing the concept of green and sustainable development,of which an effective way to convey the company’s environmental protection culture to the outside world is to disclose environmental accounting information.As a traditional pillar industry in China,the textile industry is also a heavily polluting industry as identified by the Environmental Protection Administration and is mandated to disclose environmental information to the public.Based on this,a listed enterprise from the textile industry is selected as the research object to analyse the impact of environmental accounting information disclosure of Fengzhu Textile on corporate value,and to propose countermeasures and suggestions on environmental accounting information disclosure in the textile industry.By reading relevant documentation and drawing on previous academic research,the theories of sustainable development,stakeholder theory,information asymmetry theory and excess disclosure benefit theory are used as the theoretical basis.Using the case study method to sort out the ways and contents of environmental accounting information disclosure of Fengzhu Textile,we analyse in depth the current situation of its environmental accounting information disclosure,while using economic value added to measure the corporate value of Fengzhu Textile and analyse the mechanism of the effect of environmental accounting information disclosure on corporate value;and draw conclusions on the positive impact,lagging impact and negative impact of environmental accounting information disclosure on corporate value.Based on the above findings,the main research recommendations are that textile companies can improve their environmental accounting disclosure models and increase independent environmental accounting reports,making it easier for stakeholders to access both qualitative and quantitative information and raising awareness of the company’s environmental responsibilities.The popularization of the independent environmental accounting report requires research in environmental accounting disclosure as a theoretical basis.Besides,the relevant departments are also needed to develop disclosure guidelines as mandatory requirements for the company.At the same time,the quality of environmental accounting information disclosure cannot be separated from the supervision and audit of the third party.By improving the quality of environmental accounting information disclosure,textile enterprises and even other heavily polluting industries can gain value-added enterprises and enhance the green and sustainable development of the whole industry and society.