Environment Regulation,Internal Control And Environmental Information Disclosure

Since the reform and opening-up policy,China's economy has made remarkable achievements.However,the economic development contains the increasingly prominent environmental problem.Enterprise is not only the main body of the market economy,but also a major source of environmental pollution,it's important to positive response and implement the country's sustainable development strategy.In order to seek long-term survival and development,enterprises must strictly regulate their own economic behavior in accordance with national environmental protection policies.Enterprise environmental information disclosure acting as two-way communication mechanism between enterprise and stakeholders including the government and the social public is the embodiment of the enterprise environment measures and performance.Therefore,as an important part of corporate environmental protection,environmental information disclosure has been paid more and more attention.To study the influencing factors of environmental information disclosure helps to improve corporate disclosure quality fundamentally and protect the rights of stakeholders.This paper first reviews the research methods and results of the related literature at home and abroad,and put forward the research hypothesis combining with the research status of China on the base of legitimacy theory,impression management theory,principal-agent theory,stakeholder theory and social responsibility theory.Then,using the third party rating data innovatively to quantify the input variables,selecting in 2008-2014 as a sample interval,in the Shanghai Stock Exchange and the Shenzhen Stock Exchange-listed A-share companies,using Statal 3.0?Excel,taking the descriptive statistics,correlation analysis and regression analysis methods,empirically test the influence of environmental regulation and internal control on quality of environmental information disclosure.The research results show that corporate environmental information disclosure level is higher with stronger environmental regulation and more effective internal control,and the positive impact of environmental regulation on environmental information disclosure is a part to play by promoting the effective operation of internal control.Finally,this paper based on the results of the study,combined with the particularity of China's institutional environment,to provide the following suggestions about improving the level of environment information disclosure of listed companies in China:perfect legal system,improve the corporate governance structure and strengthen internal control particularly,establish environmental accounting standards accordingly and play the positive role of external supervision.This paper consists of five parts:The first part is the introduction,this part mainly describe the research background,significance,content and methods,as well as the main innovations.The second part is the literature review,it gives a comprehensive review of domestic and foreign relevant research in the perspective of the influencing factors of the environment information disclosure,the effect of environment regulation and internal control on environment information disclosure.The third part is theoretical basics and hypotheses.In this section,it first expounds there concepts,concluding corporate environment information disclosure,environment regulation and internal control.Then it elaborates related theory concluding legitimacy theory,impression management theory,principal-agent theory,stakeholder theory and social responsibility theory.In the end,research hypotheses has been presented.The fourth part is empirical analysis.It uses Stata13.0,takes the descriptive statistics,correlation analysis and regression analysis methods,empirically test the influence of environmental regulation and internal control on quality of environmental information disclosure.The fifth part is the conclusions and recommendations.It draws a conclusion according to the regression results of the fourth part and analyzes the results.Combining with the status of the current environmental information disclosure and empirical analysis results,this paper makes several policy recommendations.The innovation of this paper mainly contain three aspects:firstly,in the aspect of subject,the scholars mainly study in this field from the external pressure,corporate governance and corporate characteristics,few of them have incorporated internal control into the analysis framework of corporate environmental disclosure practices.Based on the spillover effects of internal control,this paper study how it influence the disclosure practices.Secondly,in the variable metric method selection,the former scholars mostly adopts "content analysis",this paper innovatively uses the third party rating data,it can avoid the subjectivity of some index design and scoring to some extent and make the research more persuasive.Thirdly,in policy recommendations,this paper puts forward that the enterprises should strengthen and perfect the construction of the internal control system of environmental management to improve risk prevention ability and realize sustainable development.There are also two drawbacks.In the one hand,we don't have perfect ways to solve endogenous problem.On the other hand,this paper uses the third party rating data itself has certain risk,at the same time,the choice of the substitution variables and control variables also has certain limitations.These may lead to some shortcomings in the results of this article.