Research On The Impact Of Management Incentive On Environmental Accounting Information Disclosure Quality

In recent years,with the rapid development of China's economic construction and the continuous increase of population,a variety of resources and environmental problems have gradually emerged,and ecological construction and environmental protection has become increasingly serious.The Plenary Session of the 18 th Central Committee of the CPC put forward the concept of “innovation,coordination,green,opening and sharing”.The issuance of the development concept of “green” reflected that the country is paying more and more attention to environmental issues.Environmental accounting is generated among enterprises in the process of pursuing economic benefit constantly,which is of great significance to promote the formation of a virtuous circle of business.Environmental issues are incorporated into the financial reporting system by environmental accounting,resulting in environmental accounting information disclosure.Environmental accounting information disclosure has a very important role in the production and operation of enterprises,investment decisions,performance evaluation and sustainable development,which has strong vitality.In September2010,the Ministry of Environmental Protection announced the “Environmental Information Disclosure Guide of Listed Companies”,which stipulated that listed companies within the 16 categories of highly polluted industries should regularly disclose the discharge of pollutants,environmental management and environmental compliance and other aspects of environmental information.Pharmaceutical industry is one of the highly polluted industries,which is of great significance to study the quality of its environmental accounting information disclosure.As the operator of the enterprise,the manager is the actual decision maker of the daily activities of the enterprise,and the manager has a better understanding of the daily activities of the enterprise compared with the owner of the enterprise,and the manager has certain decision-making power of the enterprise.As a part of accounting information,the disclosure of environmental accounting information is largely influenced by management layer.Modern enterprises have designed management incentive mechanisms such as salary incentive,equity incentive and control power incentive,so as to alleviate the agency relationship between the owner and the operator and reduce the self-interested behavior of the management layer.Therefore,this paper takes the pharmaceutical industry as an example,and studies whether management incentive of listed companies has an impact on the quality of environmental accounting information disclosure,what kind of impact it will have and the influencing degree.The paper tries to use the research conclusions to improve the management incentive mechanism of listed companies to further improve the governance structure of listed companies within the heavily polluted industries,which is conductive to improving the quality of its environmental accounting information disclosure,playing the environmental accounting's role of business continuity and making relevant stakeholders make use of corporate environmental accounting information to make more favorable decisions.In this paper,the author takes listed companies of pharmaceutical industry as an example,uses the methods of combining normative research with empirical research,and research the impact of management incentive on environmental accounting information disclosure.On the basis of introducing the relevant background,sorting out the domestic and foreign literature,defining the relevant definitions and introducing the theoretical basis,the author puts forward the three assumptions of this paper,establishes the regression model,draws the conclusion of this paper on the basis of the empirical research on the selected pharmaceutical industry listed companies,and proposes relevant suggestions.Through the establishment of the model,the author selects the six fiscal year data of A-share pharmaceutical industry listed companies in Shenzhen and Shanghai stock market from 2010 to 2015 for empirical analysis,the main conclusions drawn in this paper are as follows:Firstly,the management salary incentive has a positive impact on the quality of environmental accounting information disclosure;Secondly,the management equity incentive has a positive impact on the quality of environmental accounting information disclosure;Thirdly,the management control power has a negative impact on the quality of environmental accounting information disclosure.Based on the above conclusions,this paper argues that in the context of China's current system,we should do the following things in order to improve the quality of environmental accounting information disclosure.Firstly,we should ensure the positive effect of salary incentive,establish a more comprehensive salary system and grasp the degree of salary incentive.Secondly,the enterprise should give full play to the management equity incentive positive impact on the environment accounting information disclosure and establish a perfectequity incentive system to make it play an active role,to form a long-term mechanism.Finally,the enterprise should rationally optimize the management control power incentive and make reasonable arrangements in the aspects of corporate leadership structure,term of office of the general manager,board size and the proportion of executive directors.And the enterprise should appropriately constrain the power of management layer,so as to make it have a positive impact on environmental accounting information disclosure.