Study On The Determinants Of Carbon Accounting Information Disclosure In Chinese Enterprises

With the increasingly serious of greenhouse gas emissions,the temperature rising,glacier melting,sea level rising and extreme weather and other environmental issues successively occurred in entire world.All countries in the world are stepping up their efforts to study the response plans to climate change.In the context of the global advocacy of low-carbon economy,the concept of "carbon accounting" came into being,which became the hotspot of theoretical research of scholars from various countries.Carbon accounting information disclosure is one of carbon accounting most important content and the final form of expression.With the increasing prosperity of the carbon trading market,corporate carbon accounting information disclosure has gradually been paid more and more attention by the government,investors,the public and other stakeholders,in which the thermal power,steel and coal and other enterprises of heavy pollution industries are the main responsibility of the principal carbon emissions,their carbon emissions has drawn more attention.However,at present,Chinese Carbon accounting information disclosure system is not fully developed,which has less effectives while regulating and guiding for enterprises.Meanwhile,enterprises’ main purpose are profit,which don’t find out the opportunities and benefits for their own development from the disclosure,leading to its lack of disclosure of consciousness,differently disclosure and fragmented content with poor quality.Therefore,in order to enhance the level of carbon accounting information disclosure in enterprises of heavy pollution industries,it’s need to proceed from the essence,exploring the factors that influence its disclosure,analyzing the causes and internal mechanisms of disclosure.However,Chinese carbon accounting research started late.The existing literature mainly focused on the way and content of carbon accounting information disclosure but less in empirical research,and heavy pollution industry as the object of study is even more rare.And existing research was in selected factors mainly from the company characteristics or internal governance and systematic study of the internal and external environment in the consolidated was less.Therefore,this paper selects indicators comprehensively and systematically from the company’s internal and external environment in two aspects and makes empirical analysis on the determinants of carbon accounting information disclosure of listed companies in heavy pollution industries.Taking Shanghai and Shenzhen A shares listed companies of heavily polluting industries as a sample,based on the analysis of the status of carbon accounting information disclosure,this paper selects factors to carry out theoretical analysis and empirical modeling research from the internal and external of companies,exploring the influence degree of these factors to carbon accounting information disclosure.The study indicates that company scale,operating capacity,financial leverage,fixed asset ratio,the proportion of management shares and the proportion of outstanding shares are significantly positively correlated with carbon accounting information disclosure.The economic environment,whether cross-listing,and whether in the carbon emissions trading pilot cities are not significant correlation with carbon accounting information disclosure.At the end of the paper,based on status quo and the empirical analysis of the determinants of carbon accounting information disclosure of Listed Companies in heavy pollution industries,this paper makes recommendations and suggestions from the internal construction,external supervision and theoretical system those three aspects,in order to enhance the level of carbon accounting information disclosure of listed companies in heavy pollution industries in China.