The Study On Corporate Environmental Report In China

For the business enterprise, actualizing sustainable development strategies means whether it would control its pollution so as to maximize economic, social or environmental benefits when it gains profit.With the development of society, the whole of society on environmental issues is more seriously. Enterprises as the main source of environment pollution, start to publish environmental report, open their own environmental information and accept the supervision of the community. Business environment report gradually is independent from the financial report。Many large listed companies, especially some multinational corporations, disclose independent environmental report, in order to response to economic, social and environmental benefits. Environmental report what originally emphasized environment, health and safety, contains more information, and offers more information for the users. Many countries'business environment reports have reached sustainable development report levels, but in China, it just starts, and does not yet ripe.The paper that is based on general of environment report's theories and recalls the environment report's research on the status quo at home and abroad, finds that research on business environment report is less and short of empirical analysis. The research that starts the two points, studies Chinese business environment report published status quo and the responses of the stock market. The following is the main content:Taking the advanced examples and in accordance with the framework of financial report, discuss the conception, object, principle, guide, content, and third-party audit of business environment report. Analyze the status quo of the environment report's development at home and abroad, find deficiencies in China. The study uses the empirical method---Event Study, selects 18 companies as samples that contains more than 2000 data, focuses on the relation between changes in stock price and disclosure of information, in order to find that how the stock market reflects when the company discloses the environment report, and this is the innovation point. The conclusion is that the stock market has some reflection, but it is not prominence. Investors begin to pay attention to environment information, but they don't attach more importance to it. There are five suggestions: building laws and regulations, enhancing public awareness on environmental protection, improving enterprise staff's quality, strengthening environmental auditing, carrying reward and punishment system.