An Empirical Study On The Effect Of Political Connection To The Corporate Environmental Information Disclosure Quality

As the environmental pollution is increasingly serious,the public begins to pay close attention to all kinds of environmental information,and the government actively carries out the relevant work of environmental protection.As an important means of environmental governance,environmental information disclosure system has won the attention of government that has issued a series of policy related to it.However,do these policies effective implementation?Which factors will affect the quality of corporate environment information disclosure?In combination with the economic system and the historical background in China,we can find that political connection has deep into all aspects of the enterprise in China.So the senior manager who has political connection is an important factor that affects the quality of corporate environmental information disclosure.If the senior manager has political connection,the company on the one hand may take the initiative to implement the policy,on the other hand may use political connection to obtain preferential environmental policy.Whether executives who have political connection will enhance the quality of corporate environmental information disclosure or not?In order to solve the problem,based on the market economy system and the economic development level at present in China,this article discusses the impact of executives who have political connection to the quality of corporate environment information disclosure,and analysis the current situation of the quality of corporate environmental information disclosure in China.At last it hopes to provide policy advice which can complete the system of environmental information disclosure in China.This article got the information of 175 polluting enterprises in the Shenzhen stock exchange from 2008 to 2015.On the basis of the study of scholars and related theory,it analyzes the relationship between political connection and environmental information disclosure,and establishes the index system of corporate environmental information disclosure.First of all,it analyzes the situation of the quality of environmental information disclosure and the political connection at present in China.Secondly,it analyzes which effects the political connection on the quality of the corporate environment information disclosure by multiple regression,and discusses the change of relations under different ownership and marketization degree.The article found that:(1)The quality of corporate environmental information disclosure was constantly improved in heavy pollution industry,but the overall level is not high.(2)Senior managers who have political connection can promote the quality of corporate environment information disclosure.(3)The different ownership effected the relation that non-state-owned enterprises are more influenced by political connection compared with the state-owned enterprises.(4)The degree of marketization effected the relation that the higher the degree of marketization,the closer relationship.So this article suggested that the government should perfect the system of environmental information disclosure and related laws;strengthen environmental supervision,and ensure the implementation of the related systems;strengthen environmental protection consciousness of senior managers,and encourage enterprises to establish environmental management system;establish communication channels between enterprise and government;strengthen the supervision of enterprises which exist political connection.