Research On The Influence Of Environmental Accounting Information Disclosure Level Of Listed Companies In Chemical Industry On Their Financial Performance

During the 14 th Five-Year Plan period,China’s ecological civilization construction entered a critical period in which carbon reduction was the key strategic direction,synergy and efficiency of pollution reduction and carbon reduction were promoted,the overall green transformation of economic and social development was promoted,and the improvement of ecological environment quality was changed from quantitative to qualitative.Listed companies in the chemical industry,as the key executor of ecological environment governance,have achieved initial results in pollution prevention and control,but there is still room for improvement.To study the impact of environmental accounting information disclosure level on its financial performance is of great significance to the theoretical innovation and research practice of national environmental governance.Based on the findings of the early research on environmental accounting information disclosure,most of the research took the capital market as the background to explore the content,form and influencing factors of environmental accounting information disclosure in theoretical aspects.Among the empirical studies,most of them discuss the correlation between environmental accounting information disclosure and corporate performance,but there are few articles on the subdivision of performance research,and there is a lack of research on the financial performance of listed companies.However,China’s economy is now in the stage of high-speed growth to high-quality development,the lack of research in this aspect is not conducive to the listed companies to disclose the motivation of environmental accounting information,it is difficult to stimulate the listed companies to disclose environmental accounting information initiative.In addition,studies on the correlation between environmental accounting information disclosure level and financial performance do not take into account the differences among listed companies in the chemical industry,and few literatures consider the impact of the heterogeneity of listed companies in the chemical industry.Therefore,this paper selects the balance panel data of 198 listed chemical companies in Shanghai and Shenzhen A-shares from 2016 to 2020 for analysis and research.Based on Du Pont analysis,corresponding financial indicators are selected from the four dimensions of solvency,profitability,operating capacity and growth capacity,and the factor analysis method is used to calculate the indicators.Finally,the comprehensive measure value is obtained to measure the financial performance of listed companies in the chemical industry.In terms of environmental accounting information disclosure evaluation standard,the characteristics of the chemical industry are considered,and the pollutant emission concentration,type and quantity are included in the disclosure scoring standard.At the same time,from the perspective of property right heterogeneity,the influence path and conduction mechanism of environmental accounting information disclosure level of state-owned and non-state-owned listed companies on the financial performance of listed companies in the chemical industry were respectively discussed,and the significance of the impact of environmental accounting information disclosure level on their financial performance was empirically compared.The results show that the level of environmental accounting information disclosure can positively promote the financial performance of listed companies in the chemical industry,and the high level of environmental accounting information disclosure can significantly improve the financial performance of listed companies.Compared with non-state holding listed companies,the level of environmental accounting information disclosure of state holding listed companies has a more significant positive effect on financial performance.This study is helpful to improve the consciousness of listed companies on ecological environmental governance,alleviate the problems of resource shortage and environmental constraints faced by the development of Listed companies in China,and provide theoretical reference for the green and sustainable development of listed companies in China.