Research On The Impact Of Media Attention On The Performance Of Corporate Environmental Responsibility

At present,China’s ecological civilization construction is in a critical period of pressure superposition and weight-bearing.As the main body of economic activities,enterprises should take the initiative to as sume the main responsibility of environmental governance and seek development.In order to urge listed companies to actively fulfill their social responsibility to protect the environment,the guidelines for environmental information disclosure of listed c ompanies issued by the Ministry of environmental protection in 2010 clearly requires listed enterprises in 16 categories of heavy pollution industries to issue annual environmental reports.However,from the current situation of China’s corporate environme ntal responsibility performance,the overall environmental responsibility performance is poor,and the environmental problems caused by the lack of corporate environmental responsibility emerge one after another.As a means of environmental governance supe rvision outside the formal environmental regulation,the external governance role of media supervision has been widely valued and affirmed.Therefore,studying the impact of media attention on the performance level of corporate environmental responsibility from the perspective of institutional environment is of far-reaching significance for improving the performance quality of corporate environmental responsibility and realizing the sustainable development of social economy and environment.This paper is divided into four parts: the first part deeply digs the background and significance of the research,systematically combs the relevant literature of media attention,institutional environment and corporate environmental responsibility,so as to lay a solid foundation for this research;The second part,guided by relevant theories,deeply analyzes the relationship between media attention and the performance of corporate environmental responsibility and the role of institutional environment in it,so as to build a theoretical framework for follow-up research;In the third part,after the statistical analysis of the current situation of China’s corporate environmental responsibility performance,the panel data of 4 58 heavily polluting enterprises from2010 to 2020 are selected as the research samples to empirically test the effect of media attention with different attitudes on corporate environmental responsibility and the impact of institutional environment on the relationship between them;The fourth part offers suggestions to improve the performance level of China’s corporate environmental responsibility from the three levels of enterprises,media and government.The conclusions of this paper are as follows: first,the overall environmental responsibility performance level of enterprises in China’s heavy pollution industry is not high,and the quality of environmental information disclosure varies greatly among enterprises;Second,the more media reports on enterprises,the better the performance of enterprises’ environmental responsibility performance.The media attention with different attitudes and tendencies can significantly improve the performance of enterprises’ environmental responsibility.Among them,the negative media attention has the best effect on the performance of enterprises’ environmental responsibility in the short term;Third,the marketization of government support in the institutional environment,the perfection of the legal environment and the development of the factor market can positively regulate the impact of media attention on the performance of corporate environmental responsibility.The main innovations of this paper are as follows: first,from the perspective of media attention,establish an index system to evaluate corporate environmental responsibility,which enriches the research on the driving factors of corporate environmental responsibility performance;Second,from the perspective of the nature of media reports,this paper compares and analyzes the effects of media attention with different attitudes and tendencies on the performance of corporate environmental responsibility,which broadens the research perspective of media attention;Third,considering the current institutional background of China,this paper explores its role in the performance of China’s corporate environmental responsibility from the perspective of institutional environment.