Regional Difference, Environmental Information Disclosure And The Value Relevance Study

With the improvement of socio-economic development and people’s living standards, environmental issues more attention. Industry is increasingly vocal about the enterprises to fulfill their environmental responsibilities, environmental information disclosure. However, It is understood that the country only a small number of listed companies in some industries, the disclosure of environmental information., Domestic enterprises did not realize the positive impact of corporate environmental information disclosure of enterprises.This article first theoretical analysis shows the positive role of corporate environmental information disclosure. Theory of the firm to maximize the interests of the stakeholders is the ultimate goal of the enterprise. The interests of the stakeholders include the environment of the enterprise in which the region. Signaling theory is that good companies need to pass a good signal to investors and creditors to distinguish them from ordinary enterprises in order to obtain the resources necessary for development. Useful decision making theory, investors and creditors also requires companies to provide environmental information to determine whether a company has investment potential. However, the grasp of corporate managers and outside the enterprise, investors and creditors of the enterprise information asymmetry, the information asymmetry between the two will lead to adverse selection and other issues. Therefore, the external corporate environmental reports, either to establish a good corporate image, can also bring more resources to promote the development of enterprises.Empirical analysis of the text, we learn from other scholars research results, select the unit of capital and economic value-added (EVAPC) indicators as a measure of corporate value; take scoring system established by the School of Economics and Management. Southwest University. National Social Science Fund project team to score a sample of enterprises measure, as a corporate environmental information disclosure level; the introduction of other indicators related to the enterprise value, the final proof of the relationship between the variables. The empirical results show that corporate environmental information disclosure level and firm value are positively correlated, but the enterprise value to affect the economic behavior of the larger enterprises. The author believes that such a result is acceptable. Too short because the history of the development of China’s market economy, economic development level and degree of market are not as developed countries, the relevant laws and regulations need to be improved. Enterprises under the information disclosure of the external pressure are not obvious. Corporate environmental information disclosure level of the enterprise value takes a long time to appear more significant.History of development of developed countries, a profound warning that we first develop the method of governance is one of the drawbacks of long-term development. The cultivation of corporate management and accounting staff awareness of environmental protection is a prerequisite for corporate environmental information disclosure level. The supervision of regulatory authorities and the public, the mandatory provisions of the laws and regulations of corporate environmental information disclosure level of external pressure. Establish an internal audit system; optimizing the ownership structure is the organizational foundation of corporate environmental information disclosure level.