Photovoltaic Industry Environmental Information Disclosure Of Listed Companies Impact On Financial Performance

PV industry as an emerging industry in recent years, more rapiddevelopment of its various aspects, but due to various institutions and nascentindustry does not match the pace of development, resulting in the photovoltaicindustry to highlight environmental issues, has become an important issueconstraining the development of the industry.2013According to the Ministry ofIndustry and Information Technology,"the State Council on promoting thehealthy development of photovoltaic industry"(Guo Fa [2013] No.24) and PVmanufacturing industry norm conditions(Ministry of Industry and InformationBulletin No.47of2013) the relevant provisions promulgated the "PVmanufacturing industry norms announcement Interim Measures(hereinafterreferred to as the Rules), the measures for the development and management ofthe photovoltaic industry has made to the specifications, while focusing onenvironmental issues rectification photovoltaic industry. As companies continueto expand the photovoltaic industry and the development of small-scalephotovoltaic industry companies from the early, non-standard type environmentmodel for large-scale enterprises to gradually change, in line with nationalenvironmental standards, can be in line with international standards of largeenterprises in this development, for the photovoltaic industry in line with nationalenvironmental standards represent a major part. Thus the photovoltaic industrywants to achieve great progress, we must ensure that benefits under the premiseof improving corporate environmental issues, at the same time, the environmentalperformance and financial performance control combine to ensure future long-term development.Research and empirical research study of this paper, combining theory. In theory part, first start from current research, reviews the theoretical literature onenvironmental information disclosure and abroad. Why focus on the corporateenvironmental information disclosure, restricting enterprise environmentalinformation disclosure of the various elements of the development process ofcorporate environmental information disclosure in three aspects. Next, this paperdescribes the theoretical basis for the study, including information asymmetrytheory, signaling theory, agency theory, stakeholder theory in four parts.Conducting basic theoretical explanations based on the combination ofenvironmental information disclosure of relevant factors, know the role of eachtheory analysis in the corporate environmental disclosure. According to thetheoretical analysis of the impact at the same time elements of enterpriseenvironmental information disclosure, to build a model of empirical research toprepare. In the empirical study, by constructing regression model of thephotovoltaic industry environmental information disclosure and financialperformance correlations,regression analysis based on fuzzy comprehensiveevaluation model by constructing photovoltaic industry further study ofenvironmental information disclosure on the financial performance of the extentof the impact strength, through part two progressive relationship model and thenget substantive research findings. The research shows that regression model fitbetter, there is a correlation between environmental disclosure and financialperformance; fuzzy comprehensive evaluation model final display, there is astrong environmental disclosure impact on the results of corporate financialperformance. Both the results of a comprehensive, enterprises should increaseemphasis on environmental protection, and improving the degree of informationdisclosure.