Research On The Relationship Between Carbon Disclosure And Corporate Performance Of Listed Companies In Heavy Pollution Industry

With the adverse effects of global climate change growing,governments come to realize the serious effect of carbon emissions. It’s an inevitable option to embark on the road to a low carbon economy. In response to the carbon tariff and carbon trading right policies, China government has taken actions and called for the development of low carbon economy in recent years. However, since there is no separate carbon information disclousure and accounting, stakeholders can’t fully see the performance of a low carbon management. The article studies the carbon information disclosure of listed companies inheavy polluting industries in shanghai, discusses the relationship between the companies’ carbon disclosure and their financial performance, and puts forward relevant countermeasures and suggestions.For that reason, the paper analyzes the interactive influence between the companies’ carbon disclosure and financial performance, based on stakeholder, asymmetric information and signal transmission theory. The data, from listed Chineae companies in heavy polluting industries in shanghai from 2009 to 2014, trying to establish a comprehensive evaluation index of carbon disclosure and financial performance indicators, is analyzed using the fixed effects model. First, based on the statistical data, the article finds that the overall level of carbon disclosure is low, industry disparity is big, and the most content is descriptive disclosure. Secondly, from the current point of view, carbon disclosure negatively affectfinancial performance; the long term,carbon disclosure positively affectfinancial performance. The research findings are theoretically and practically significant for us with regard to understanding the relationship between carbon disclosure and financial performance, and for companies to improve the sense of carbon disclosure and conscientiously to fulfill carbon disclosure.