Stakeholder Pressure And Environmental Information Disclosure

Environmental damage and environmental pollution accidents occurred frequently recent years, more and more people pay attention to environmental problem. The second industry having created the wealth, as the same time bring so many environmental problem. Legislative and administrative measures are playing the leading role to regulate corporate environmental behaviors. The company’s stakeholders require the enterprises disclose they environmental information. The heavy polluting industries are major creators of most pollutants, and the listed companies as the representative of the advanced enterprises, so it has a very important significance to take the heavy polluting industries as the research sample.The article attempts to take this data of the heavy polluting industries to study the situation of the environmental disclosure, and the main problem of it, it can help find the breakthrough to solve environmental. In order to help understand the environmental disclosure mechanism from the corporate perspective, this paper identifies the determinant factors affecting the disclosure level of corporate environmental information on the basis of stakeholder theory, and gives an empirical observation on Chinese listed companies.In order to make clear the relationship of the environmental information disclosure level and the company’s stakeholder pressure. During the courses of this article, I take the following measures, The first, standard research methods explains the theory of environmental information. The second,by using the principle of the statistical to select the sample, to determine the object of study, to collect the data. The third, with the method of linear regression to discusses the factors associated with stakeholder pressure. The fourth, using comprehensive analysis to analyze the result of the empirical analysis.The results show that the environmental regulation and media attention are significantly positively related to the environmental information disclosure level, but the creditor’s pressure has no significant effect on environmental information disclosure level. The holding proportion of the largest shareholder is significantly positively related to the environmental information disclosure level, whereas the managerial ownership has no effect on it. At the same time the study verified that the environmental regulation has a "U" shaped relationship and it can significantly enhance the enterprise sensitivity of media attention.