Environmental Information Disclosure,Enterprise Innovation And International Competitiveness

In the current process of world development,environmental issues have received widespread attention from various countries.With the rapid development of China’s economy,environmental issues are becoming increasingly prominent,with severe problems such as resource scarcity,ecological damage,and environmental pollution.Heavy polluting enterprises have become key targets for environmental information regulation due to their high energy consumption,high emissions,and heavy pollution,and face strict environmental information disclosure requirements.At the same time,the international environment is turbulent and complex,full of uncertainty.Chinese enterprises are facing increasing green technology barriers when participating in international competition,seriously hindering their internationalization process.Enterprises urgently need to transform and upgrade,enhance innovation capabilities,and ensure the synchronous realization of economic and environmental benefits.At present,the relationship between environmental information disclosure,corporate innovation,and international competitiveness has attracted widespread attention in the academic community.Based on this practical background,this article explores the impact of environmental information disclosure on corporate international competitiveness from the perspective of corporate environmental governance,and introduces variables of corporate innovation to further explore the moderating role of corporate innovation.This article selects heavily polluting listed companies in the Shanghai and Shenzhen A-shares from 2012 to 2020 as research samples.Firstly,a basic regression model is constructed based on the lag effect of environmental information disclosure to explore the short-term and long-term effects of environmental information disclosure on the international competitiveness of enterprises;Then,a threshold regression model was constructed to empirically test the moderating effect of enterprise innovation on the relationship between the two;Further divide the sample into state-owned enterprises and non-state-owned enterprises based on different property rights,and divide it into monetary and non monetary environmental information for heterogeneity analysis based on the content and form of disclosed information.The following conclusions can be drawn from the above research:Firstly,there is a lag effect in the impact of environmental information disclosure on the international competitiveness of enterprises,that is,the disclosure of environmental information has no significant improvement effect on the international competitiveness of enterprises in the short term,but can significantly improve the international competitiveness of enterprises in the long term.Secondly,enterprise innovation plays a moderating role in the impact of environmental information disclosure on the international competitiveness of enterprises.When enterprise innovation crosses the threshold,the positive promotion of environmental information disclosure on the international competitiveness of enterprises transforms into a inhibitory effect.Thirdly,compared to non-state-owned enterprises,environmental information disclosure by state-owned enterprises has a more significant promoting effect on international competitiveness.Fourthly,compared to monetary environmental information,the disclosure of non monetary environmental information has a more significant promoting effect on the international competitiveness of enterprises.Based on the above research conclusions,this article proposes corresponding policy recommendations from the perspectives of the government and enterprises,in order to provide guidance for heavily polluting enterprises to adjust their environmental management system,optimize environmental information disclosure content,achieve sustainable development of the environment and economy,and improve their international competitiveness.