An Empirical Study On Influencing Factors Of Environmental Accounting Information Disclosure Quality In Chemical Industry

The quality of the environmental accounting information disclosure affects the stakeholders' decision-making directly and the enterprise' social image.The disclosure of environmental accounting information is not only the enterprises' form to fulfill social responsibility and the way of government supervising related environmental activities,but also it provides the stakeholders with the information channel of the enterprise environmental performance.The foreign scholars research on the influence factors of environmental accounting information disclosure level mainly concentrated in the internal factors such as company scale,organization change,and the external factors such as the regional development level,social public,the government supervision and so on.Most Chinese scholars draw lessons from foreign research,choosing an industry,a years of data as a sample.But the study showed that the conclusion which is on the relationship between some influence factors and the level of the environment accounting information disclosure is inconsistent.And most scholars research the level of the environment accounting disclosure,the research on the quality of the environment accounting information disclosure is less.Currently,the environmental problems become more and more serious,This paper argues that it is necessary to study the influencing factors of the environmental accounting information disclosure quality about the heavy pollution industry,especially the chemical industry enterprises.This paper took example by the demand of CSRC,on the basis of? Environmental Accounting information disclosure guide ? that the National Environmental Protection Agency issued,and the ? Stock Exchange InformationIV Disclosure Guide?,in the light of FASB that required relativity and reliability ofaccounting information disclosure,it divided the environmental accounting information quality of chemical industry companies into relativity,reliability and significance.Then this paper calculated the weights of three indexes and ten items by AHP,weighting summation,and at last structured the environmental accounting information disclosure quality index of firms.Then selected the A shares listed 145 companies in heavy polluting industries in the chemical industry on Shenzhen and Shanghai stock exchange,then sort out the environmental accounting information of each firm's 2011—2015 year on Social responsibility report,annual report,financial statements and the chairman's report,the official website,etc.On the basis of the theory of sustainable development,principal agent theory,stakeholder and social responsibility,multiple regression models were used to study the possible factors affecting the quality of environmental accounting information disclosure.Results show:(1)Financial leverage the company's asset liability ratio and the economic development level of the registered area are negatively related to the quality of environmental accounting information disclosure,which through the significant test.(2)The company's scale,profitability,and the share ratio of the top five shareholders are positively correlated with the quality of environmental accounting information disclosure.(3)The firms age is positively correlated with the quality of environmental accounting information disclosure.The firms which compile the social responsibility reports independently disclosure the high quality of environmental accounting information,and the original hypothesis is supported by the significance test at the 1% level.(4)The proportion of independent directors is positively related with the quality of environmental accounting information disclosure,but it did not pass the significance test.It shows that the independent director lack of independence of the listed companies of chemical industry in China.(5)If the accounting firm belongs to the national top five,or so the audited entity disclosure the higher quality of environmental accounting information,but it did not pass the significance test.At the same time,the chemical industry companies listed on the Shanghai Stock Exchange disclosure the higher quality of environmental accounting information thanthe companies listed on the Shenzhen Stock Exchange,and did not pass the significance test.