Environmental Information Disclosure Level And Corporate Capital Structure-

In recent years, with awareness of environmental protection growing, all countries more and more attention the issues of environmental, the path of Sustainable Development have become a common choice for the world. As a result, the protection of the environment become to social responsibility of modern enterprise can not be shirk which promote the development of recycling economy, achieve the goal of sustainable development of society as a whole. In this context, Environmental Accounting as a new branch of accounting Produced.As the entry point of the environmental accounting research, Environmental Accounting Information Disclosure Has become the focus of many scholars, It is not only a macro-economic management needs, but also the needs of the company’s internal management. However, the Environmental Accounting Information Disclosure of domestic Still in the primary stage, such as:the disclosure is not optimistic, environmental accounting information disclosure of listed companies disclosure is voluntary. Under the framework of the voluntary disclosure research, by building multiple regression model of influencing factors in the environmental accounting information disclosure, provide some evidence for understanding the level of listed companies environmental accounting information disclosure and corporate capital structure, and puts forward policy proposals.The paper is divided into five parts. The first part reviewed the research literature of the environmental disclosure in domestic and abroad,to provide some ideas for this study by analyzing its strengths and weaknesses; The second part describes the theoretical basis of this study, including the concept of environmental accounting, environmental accounting imformation disclosure and its main content, theoretical analysis of the petrochemical enterprises of environmental accounting information disclosure and definition of environmental disclosure level; The third part is the theoretical analysis, proposed the hypothesis and the relationshipof Petrochemical corporate environmental accounting information disclosure and corporate capital structure, including the assumptions of the petrochemical enterprises overall level of environmental information disclosure relation with the company’s capital structure, The greater extent of the liabilities of listed company, the higher the level of environmental information disclosure; The positive correlation assumptions of State-owned petrochemical enterprises of environmental information disclosure level and the relationship with corporate capital structure, the greater the extent of the liabilities of State-owned listed companies, the level of environmental information disclosure more significantly higher; The level of Non-state-owned petrochemical enterprises of environmental information disclosure and the corporate capital structure does not have a significant correlation assumption, That the extent of the liabilities of state-owned listed companies with the level of environmental information disclosure is not obvious correlation; The fourth part is the core part of the empirical analysis, under the framework of voluntary disclosure, empirical studies of the correlation of listed companies environmental disclosure level with corporate capital structure. This paper selects the2008-2010A shares of Shenzhen Petrochemical plastic plastic100listed companies as our sample, Consider seven factors of listed companies which relating to the conduct of environmental accounting information disclosure, usemultivariate linear regression method for empirical research. Study found that:the company’s capital structure is an important factor of the impact of environmental accounting information disclosure, company size, growth, the proportion of the total share capital of the outstanding shares of environmental accounting information disclosure level showing a significant correlation between company profitability, independent directors the proportion of persons, the proportion of state-owned shares not have significant impact on the environment accounting information disclosure, and through regression analysis confirmed that these three assumptions,ultimately; The fifth part is use the findings of the empirical analysis, combined with the the status quo of environmental accounting information combined with the disclosure of the status quo of environmental accounting information of domestic listed companies, Proposed the related policy recommendations to increase the the level of environmental accounting information disclosure of listed companies in China., should strengthen the market supervision of voluntary information disclosure on environmental accounting, optimized tax policy, gradually improve the disclosure of environmental accounting information of listed companies, encourage intermediaries actively participate in, to establish the authority quality evaluation system of the corporate environmental accounting information disclosure, strengthen an independent third party audit of corporate environmental accounting information, and Improve internal staff to carry out a number of measures such as quality of environmental disclosure. The article concluded the lack of research and research prospect in the last.