Font Size: a A A

An Empirical Study On Determinants Of The Quality Of Carbon Information Disclosure Of Listed Companies In China

Posted on:2015-03-07Degree:MasterType:Thesis
Country:ChinaCandidate:Y Y SongFull Text:PDF
GTID:2269330428982550Subject:Accounting
Abstract/Summary:PDF Full Text Request
Climate change having attracted widespread concern throughout the world, enterprises play the key role of implementing energy saving and emission reduction in China. Carbon information disclosure is the the main communication channel about climate change between enterprises and external stakeholders, the quality of which is affected by multiple factors.Selecting the100listed companies investigated by CDP during2008-2011as samples, manually collecting information from the sample companies’ annual reports, social responsibility reports, sustainability reports and opened CDP questionnaires, by the means of factor analysis, the paper concludes that the quality of carbon information disclosure of listed companies in China can be evaluated from seven aspects, which are the situation awareness on low carbon, the goal programming about low carbon, the management and cooperation of low carbon, the publicity and education on low carbon, the investment in low-carbon technologies, the measures and effects of carbon reduction as well as the participation of carbon reduction. Dividing the samples based on the feature of carbon emissions, findings show that the carbon information disclosure quality of high-carbon-emission enterprises is better than non high-carbon-emission enterprises’ in the aspects of goal programming about low carbon as well as investing in low-carbon technologies, but weaker on other sides and that non high-carbon-emission enterprises get the higher comprehensive score, while the level of disclosure being polarizedUnder the base of above, taking the quality score of carbon information disclosure calculated by the evaluation index as dependent variables, setting explanatory variables from three aspects, firm characteristics, financial features and corporate governance, the paper analyzes the determinants of the quality of carbon information disclosure by the means of correlation, differences comparative analysis and regression. Findings show that the quality of carbon information disclosure of Chinese enterprises is affected significantly by its previous disclosure, company with higher disclosure score previously doing well in this period; Chinese enterprises’ disclosure of the situation awareness on low carbon is affected by explanatory variables insignificantly, while other aspects are mainly influenced by firm characteristics and corporate governance; disclosure of the publicity and education on low carbon is also affected by financial features but the impact of corporate governance is insignificant; according to the results of correlation and differences comparative analysis, financing motivation has seldom influence on the quality of carbon information disclosure, but the explanatory variables have different impacts on the quality of disclosure under different financing motivations.The implications are that enterprises should put carbon reduction into strategic plan, pay more attention to carbon information disclosure and take appropriate measures to make effective communication with employees on carbon reduction strategies as well as actions; low-carbon-emission enterprises should affect external stakeholders’behaviors of carbon reduction through their preference of business choice; from macroscopic and microcosmic aspects, external regulations and market operation mechanism as well as internal corporate governance mechanisms should be improved; external stakeholders should be guided to pay more attention to the companies’ carbon information.
Keywords/Search Tags:Quality of Carbon Information Disclosure, Evaluation Index, CompanyCharacteristics, Financial Features, Corporate Governance
PDF Full Text Request
Related items