Influencing Factors Of Environmental Information Disclosure Of Listed Companies

With the economic development, the environment pollution has become serious. As the main body causing pollution, enterprise should be responsible for harnessing pollution. But harnessing pollution will cause environment income and cost, which will affect enterprise's financial state and operating performance. So it is necessary for enterprise to take environmental actions into environmental accounting information system by disclosing environmental accounting information in time. Disclosure of the environmental accounting information is an important tool for people to know enterprise's environmental policy and environmental protection results that can help people predict the enterprise's developing trend and make decisions. So further to study on disclosure of environmental accounting information is not only an academic problem, but also becomes the important factor availing sound development of environment, and have very important realistic meanings.This paper uses both the standardized research and the empirical approach, combining qualitative and quantitative analysis. At first, the paper defines the related concepts such as the environmental responsibility of enterprises, environmental accounting information and environmental accounting information disclosure. On base of the sustainable development theory, asymmetric information theory and game theory, the paper analyzes on the present situation and existing problems in Chinese enterprise's environmental accounting information disclosure. Then, the paper analyzes the internal and external factors that may influence Chinese enterprise's environmental accounting information disclosure from the perspective of the theory, combined with the actual conditions of our country, selected 98 annual report of listed companies of chemical industry as the research object in 2009, and empirically studied factors affecting the environmental accounting information disclosure. Firstly the paper marked research various factors on the level of listed company environmental information according to certain rules and standards and construct environmental information disclosure index as the dependent variable, then established the related indexes of the internal and external factors as the variables, build multivariate linear regression model, and propose the research hypotheses, by using the SPSS software proposed such assumptions.The thesis draws some conclusion by empirical study. It is found that in affecting factors of characteristics, status of CEO, listed company's size, listed company's earning capacity, government investment on environmental protection, level of regional economic development and social supervision pass through significant test. Status of CEO is significantly negative to enterprise's environmental accounting information disclosure, saying that status of CEO has played effective role in supervision and improved the level of the environmental accounting information disclosure. Listed company's size is significantly positive correlation to enterprise's environmental accounting information disclosure. Listed company's earning capacity is significantly positive correlation to enterprise's environmental accounting information disclosure. Government investment on environmental protection is significantly positive correlation to enterprise's environmental accounting information disclosure, indicating that the attention degree in environmental protection of government can promote the disclosure of environmental accounting information. Level of regional economic development is significantly positive correlation to enterprise's environmental accounting information disclosure. Because the public environmental protection consciousness of the advanced regions is stronger and government establishes tough restriction for environmental problems, considering of multi-factor, the enterprise will initiatively disclose more detail and more overall environmental accounting information. Social supervision is significantly positive correlation to enterprise's environmental accounting information disclosure, indicating that the scale of certified public accountant offices can promote the level of the environmental accounting information disclosure to some extent.The paper suggests for improving Chinese enterprise's environmental accounting information disclosure. The paper gives advice from three levels, which are the disclosure rules, environment information provider and environment information customers.