Research Of The Relation Among Environmental Information Disclosure Level,Environmental Performance And Financial Performance

At present, with the rapid development of global economy, the environmental problems have become a bottleneck of restricting the development of all the countries in the world. Environmental problems draw more and more attention of the governments. Environmental problems are caused by the adverse effects of human activity on the environment, the formation of the destruction of the ecological environment. Global environmental problems mainly performance in the the greenhouse effect, loss and damage the ozone layer, acid rain, the energy crisis, reduce biodiversity, deforestation, desertification, water pollution, marine pollution and so on.Enterprises are one of the culprits of the environmental problems. Studying the enterprises’environmental information disclosure, environmental performance and other related problems is one of the methods to solve the environmental problems. When a firm’s environmental performance is good, would it be more willing to disclose more environmental quality information? Whether the enterprise which discloses more environmental informantion will have better financial performance or not? The measures taken by enterprises to improve the environmental performance will increase the cost. However, if these actions can promote financial performance, and make the enterprise benefit, then enterprises will have a greater incentive to improve their level of disclosing environmental information and environmental performance. These problems mentioned above have caused more and more disputes in academic circles, social groups, governments, and companies.With the concept of sustainable development accepted and paid attention to by the public, if the enterprises only emphasizes its economic efficiency, it will not get a long-term development. Only when the enterprise’s economic, environmental and social benefits get the maximum at the same time, is that the most ideal results.In order to have a better understanding of the environmental problems with growing social awareness, this thesis will focus on the enterprises’environmental information.This paper includes six parts: At the beginning of this paper, introduces the environmental situation in the world and the awareness of citizens, and then illustrates the research significances. It also explains the contents and methods of this research, and puts forward the innovations and shortcomings of this thesis.Then, second part reviews the researches at home and abroad, and makes a brief summary of those researches’results.The third part is about the concepts of this paper and some related theories.The fourth part is research design. Firstly, based on the related theories, we put forward the hypotheses of this research. Secondly we select the ways to measure the variables according to the previous researches. Thirdly we propose the research models to prepare for the empirical studies in the next section.The fifth part is the empirical test and results analysis.In this part, the data of samples will be studied. First we carry out descriptive statistical analysis on the main and other research variable. Then the variable correlation analysis will be carried out to ensure there are no multicollinearity problems. Finally, according to the three study models, we will have a regression analysis. At the same time, robustness test will be carried out to check the three conclusions in order to ensure the robustness of the results.The sixth part is the conclusion and some suggestions about this research. This part makes a summary of the study and puts forward some relevant suggestions.In this paper, we use the data of the five highest degree in disclosure of heavy pollution industry from2009to2012, which includes616samples. This thesis makes three conclusions:there is no significant relationship between the disclosure of environmental informantion and environmental performance;the better disclosure of environmental informantion,the worse financial performance;the better environmental performance will lead to a better financial performance. In the end of the thesis, we put forward some related policies and recommendations from two aspects, the internal and external environment of the enterprises in order to improve the values of enterprises and improve the situation of the ecological environment.