The Study On The Relationship Between Media Coverage,Environmental Performance And Financial Performance Of Listed Companies Of Heavy Pollution Industry

In recent years, The destruction of the ecological environment has hindered th e construction of beautiful China. Ecological civilization construction is an indispens able part in the construction of Chinese characteristic socialism. The Fifth Plenum of the 18 th Central Committee of the Communist Party of China puts forward five development ideas,including green development. The enterprise is the culprit among all the factors that cause environmental pollution, So we should improve the enterpr ise environment problems. Especially The heavy pollution industry of listed compani es destroy the environment in order to high production and good financial developm ent. The supervision from government departments, public media, and the public wi ll constraint the environment behavior of the corporate. The media coverage will for ce firms to improve the financial performance and environment performance, in orde r to make the company and country better development. Therefore, this paper mainl y discussed whether company environmental improvement can influence the compani es’ interests and how to affect. We also discussed whether media coverage will impr ove the relationship between environment performance with financial performance.This article is mainly to study relationships between financial performance and environmental performance,and their relationships with media coverage of Chinese he avy pollution industry in listed companies. First of all, we defined the concept of m edia attention, environmental performance and financial performance,based on the a nalysis of related academic literature. Then we cleared up the relationship between media attention、 environmental performance and financial performance and analyze t he theory relations. We put forward the hypothesis on the basis of theoretical analys is, build a relevant model.In this paper,we selected some companies among16 kinds of industries,which published environmental governance fee and the information of pollution. We used SPSS 19.0 software to analyze the data,and then tested the hypo thesis. The results show that the relationships between environmental performance a nd financial performance is opposite in the heavy pollution industry of listed compa nies. It also illustrates that some companies want to improve their own finance at t he expense of the environment destruction. But with the attention of the media,therelationships between environmental performance and financial performance is not opposite in the heavy pollution industry of listed companies. The relationships amon g company’s size, capital structure and financial performance are significant negative.And there are no significant relationships among company growth,capital strength a nd financial performance.In the end,we propose a suggestion according to result,which media coverage wil l improve the relationship between environment performance with financial performa nce.Properly speaking, the government should guide enterprises behavior with the hel p of policy and law,and change the environment management model to overcome th e shortcomings in the process of the tax reform; For the heavy pollution industry of listed companies,they should pay attention to the sustainable development, so that they can improve environmental performance with the application of the advanced te chnology.At the same time,they should adhere to the green development and green management.For the Public media,they should supervise the environmental behavio r of listed companies, and promote the environmental performance and financial perf ormance of heavy pollution industry in listed company.