Study On The Relationship Between Political Connections And Corporate Environmental Disclosure Under The Perspective Of Ultimate Ownership

30years of reform and opening up, China has achieved rapid economic developmentand created a remarkable economic miracle, became the world’s second largest economy,unprecedented changes in national comprehensive economic strength and people’s livingconditions occurred. On the other hand, economic growth has also caused serious pollutionin excessive consumption of resources and serious environment pollution, the livingenvironment is worsening, making the society is facing severe challenges. Along with ZijinMining, Kangfei pollution, Dalian oil spill and other environmental pollution incidentsfrequent exposure, corporate environmental protection responsibility has become the focusof public and media. As the main player in social and economic activities, how to fulfillenvironmental responsibilities becomes an unavoidable issue. Environmental informationdisclosure is a link between environmental protection and economic activity, also is a meanand tool for enterprise to communicate with the outside public in its environmentalperformance, and has been attached great importance to the stakeholders. With thenegative effects of production and management activities have on the environment isgetting worse, but also highlights the importance and urgency of corporate disclosure ofenvironmental information. Therefore, the establishment of an effective mechanism forenvironmental information disclosure is an important problem in heavy pollution industrylisting Corporation in China, accurate, and timely disclosure of environmentalinformation to improve corporate governance, and promote the development of enterprisesis essential.Based on existing research, with the ultimate ownership as the research perspectives,investigate the influence of political connections on corporate environmental informationdisclosure standards. Select the petrochemical industry in Shanghai and Shenzhen A-sharelisted companies as samples, collected2009-2012annual report and social responsibilityreport as an object of study, examined the correlation between politics associated andcorporate environmental information disclosure level by regression analysis. The studyfound that political connections can effectively guide the enterprises to actively disclose environmental information. However, the political connections affected the environmentalinformation disclosure at different levels with different ultimate ownership of listedcompanies. Political association affect the level of state-owned enterprises environmentaldisclosure was significantly lower than non-state-owned enterprises; the central SOEsenvironmental information disclosure level was significantly lower than the standard oflocal SOEs. Different regions of the institutional environment where businesses, the impactof the political association of environmental information disclosure standards also vary, theimpact of the political association of the eastern corporate environmental informationdisclosure level is significantly higher than the central and western areas of the enterprise.Finally, according to the conclusion and puts forward the corresponding policy proposals,that is, strengthening the construction of legal system, improvising the institutionalenvironment, enhancing supervision mechanisms, and promoting the mechanism ofcorporate governance.