Research On The Relationship Between Political Connection And Security Information Disclosure In High Risk Industries

Nowadays.the quality of people's life is getting higher and hifgher,and the attention has been increasingly paid to security issues.From the meeting of production safety work content published every year in China.the annual death toll and loss are particularly serious because of safety violations or negligence.The issue is more prominent especially in high-risk industries.The state thinks highly of the safety of production.not only to provide government subsidies for the safety of production,but also releases the regulation to formulate the standard and application of safety production outlay in high-risk industries.Enterprise security information disclosure is a way to communicate with the outside world.is to demonstrate the safety responsibility of the enterprise,not only to meet the needs of stakeholders,but also exalt the figure of the company.At present.China's economic s\stem is still in the transition stage,the state still holds some resources in a certain extent.enterprises need to rely on these resources.and political association is the invisible channel to help the enterprise get these resources from the government.The government uses its own resources to subsidize the enterprise.the company will respond positively to the government's call to give back to the fgovernment,and actively disclose information to satisfy the requirements of the state and other stakeholders.Under the precondition of the state think highly of security,it also makes sense to study the relationship between political connections and safet,'information disclosure in high risk industries.This paper reviews the previous literature on political connection and the disclosure of security information.selects 1479 companies in high-risk industries in 2015.For the sake of accurately defining high-risk industries.enterprises will be re.jected if safety production fees is not listed in the ''special reserve" account in annual report.fimally,590 samples were obtained.Based on the resource dependence theory,stakeholder theory,effect:ive market theory.this article propose four hypothesis and build four former to study how political connections affect the disclosure of security information level in high-risk industrty.The results show that:political connection can significantly improve the security information disclosure level in the high-risk industries;the higher the administrative level of political connection in the high-risk industry,the higher the level of safety information disclosure,and the level of the NPC and CPPCC members is more significant than the level of government officials.The impact of political connections on the level of disclosure of security information is different because of the different actual controller.In the non-state-owned companies,political connections can significantly promote enterprises to assume responsibility for production safety,the impact of political connections on the level of security information disclosure is not significant in state-owned enterprises.