Study On Environmental Information Disclosure Status Quo And Influential Factors Of Listed Companies

Nowadays, the environmental problem seriously restricts the development of our economy, and it is particularly acute in the food industry. In recent years, many enterprises in the food industry bankrupted for a series of food safety problems which hindered the development of the food industry as well as the progress of the whole society. The disclosure of environmental information is the most effective and most direct means for stakeholders to acknowledge environmental activities conducted by enterprises such as energy conservation and emissions reduction, pollution control. Only when stakeholders get comprehensive information could they make the right decision. Only when regulators such as government acquire and summary all of the environment information of whole food industry could they fully grasp the environmental status quo and implement effective regulatory measures.This article selected 62 listed companies in the food industry as research object and 2011-2013 as research period. It analyzed 186 research samples’ annual reports and social responsibility reports, researched the status quo of environmental information disclosure of our country’s listed companies in the food industry and found that there were problems like incomplete content, irregular form, selective scope and unsound laws and regulations in the food industry environmental information disclosure.Based on the aforesaid problem, this article made further research on factors influencing the environmental information disclosure of listed companies in the food industry, by building environmental information disclosure index and making use of multiple regression analysis. The research found out that: company size and asset-liability ratio are positively related to environmental information disclosure; company’s growth is negatively related to environmental information disclosure; the correlation is not strong between the proportion of state-owned shares and environmental information disclosure.