Research On The Influence Of Environmental Accounting Information Disclosure On Corporate Performance In Pharmaceutical Industry

With the rapid development of China’s social economy, the problem of environmental pollution has become a more and more serious problem of the whole society. In this regard, the public awareness of environmental protection has been awakened gradually. The scarcity of natural resources and the importance of environmental protection is self-evident. As natural resources consumers and one of the sources of environmental pollutions, enterprises should take more responsibility for environmental protection. The present researches on environmental accounting information in our country start late, and haven’t formed a mature theoretical system yet. The main points of the researches focus on the influence factors of the environmental accounting information disclosure. On the other hand, there is little research on what kind of effects or benefits the disclosure of environmental accounting information can bring to the enterprise. Causes of lack of researches in this area is not conducive to confirm the motivations of environmental accounting information disclosure, it is difficult to stimulate the enthusiasm of enterprises’environmental accounting information disclosure. Therefore, this paper starting from the point of this view, selects the pharmaceutical industry listed companies which closely link with people’s daily life and have a serious effect on environmental pollutions, to research the impact of environmental accounting information disclosure on corporate performance, hoping this research can help Chinese enterprises to clarify the motivation of environmental accounting information disclosure, enhance the awareness of environmental protections, accelerate the overall level and quality of the disclosure and achieve the sustainable development of the society and nature.This paper firstly reviews related domestic and foreign literatures on the influence factors of enterprise performance and the influence of environmental accounting information disclosure on corporate; then defines the relevant concepts and measures, and introduces the theoretical basis of this study, including stakeholder theory, information asymmetric theory, signal transmission theory and sustainable development theory; then choose 102 Chinese pharmaceutical industry listing companies as a sample, manually collect, collate and summary environmental accounting information from the 2011-2013 annual financial reports, social responsibility reports and environmental reports, and study the influence of environmental accounting information disclosure level on 2012-2014 annual financial performance and market performance by principal component analysis, descriptive statistics, correlation analysis, multiple regression analysis. The results of empirical research show that the disclosure of environmental accounting information has a positive relationship with corporate financial performance and market performance, which means improving the listed companies’ environmental accounting information disclosure level will have a positive impact on the enterprise holistic performance. At the end, this paper, combined with the theoretical basis and research results of the previous chapters, offers several suggestions from the aspects of government and enterprises, hoping to have a positive effect on the improvement of pharmaceutical industry listed companies’ environmental accounting disclosure level of to meet the goal of the sustainable development of society and environment.