Study On Influencing Factors Of Environmental Information Disclosure Based On Listed Companies Of Heavy Polluting Industries In China

Environmental problems become increasingly serious in China, thesystems of the prevention and treatment environmental issues formulatedby relevant government departments is improved increasingly, awarenessof environmental protection of community is gradually strengthening.Based on the development status of environmental accounting theory andthe practice of environmental information disclosure of heavy pollutingindustries in China, and combination of relevant provisions forenvironmental information disclosed of listed companies formulated bythe State Environmental Protection Department in recent years, this paperdivided influencing factors which influence environmental informationdisclosure of listed companies of China’s heavy polluting industries intotwo parts which include mandatory disclosure and voluntary disclosure.In the study of mandatory disclosure of environmental informationof heavy polluting industries in China listed companies. Using contentanalysis analyzed data of environmental information on500listedcompanies of China in2005-2010. Paper concluded that: introducedpolicies and systems will have a significant impact on number ofenvironmental information disclosure of listed companies of heavilypolluting industries, but the impact on the quality of disclosure is notobvious. Based on the2008-2010Annual Financial and SocialResponsibility Report of150heavily polluting industries listed companies, this paper using multiple linear regression analysis to studythe influencing factors to voluntary disclosure of environmentalinformation of in China. The study found that:the asset size, profitability,capacity development, the proportion of state-owned shares, theproportion of foreign shares, the proportion of fixed assets, debt ratio,financing needs and the number of independent directors has a significantimpact on voluntary environmental information disclosure of heavypolluting industries listed companies.Finally, the paper gives some suggestions on developing policy ofthe relevant government departments and the direction of future researchon environmental information disclosed, according to the conclusions: Tostrengthen the responsibility and supervision of environmentalinformation disclosure of heavy polluting industries in listed companies;The establishment of sound legal system for environmental informationdisclosure and strengthening the external audit work on the listedcompanies of heavy polluting industries; The government should increaseenvironmental pollution penalties of heavy polluting industries listedcompanies and set up a special subsidy; Improve the internalenvironmental information disclosure and the internal auditing system toenhance the environmental awareness fundamentally; Improvement theenvironmental accounting theoretical system which connect withenvironmental information disclosure practices.