Government Supervision,Environmental Information Disclosure And Corporate Value

In recent years,with the emergence of a series of environmental pollution such as smog and water pollution,the concept of environmental protection has gradually entered the public's sight.Listed companies and the community have paid more and more attention to the disclosure of environmental information,but the disclosure of environmental information is of corporate value.The impact of good or bad is not conclusive,and the government's supervision of corporate environmental behavior as an important external corporate governance mechanism has also received increasing attention.However,so far research on government supervision,environmental information disclosure,and corporate value is mostly a correlation test between the two,lacking an in-depth analysis of the internal mechanism,so study government supervision-the quality of environmental information disclosure-The issue of the transmission mechanism of corporate value is of great significance.This article has in-depth study of the relevant literature on the impact of government supervision and environmental information disclosure on company value,and understands the relevant concepts of environmental information disclosure level and company value.After comparing heavy mining industries such as mining and metallurgy,it is determined that the coal industry is in A.The listed companies in the stock panel are the research objects,and the relationship between government supervision,environmental information disclosure and corporate value is disclosed in the relationship between government supervision and corporate value.The indicators are selected to measure the government supervision,environmental information disclosure quality and company value.Based on this,four hypotheses are constructed,then the sample data is collected and collated,and four multiple regression models are established on the basis of hypothesis.The models were subjected to descriptive statistics,correlation analysis,and multiple regression analysis to test hypotheses.Finally,through the empirical test results,it is concluded that the government supervision and the disclosure of environmental information can enhance the value of the company separately,and the government supervision increases the company's value by improving the company's environmental information disclosure level,that is,government supervision-environmental information disclosure.The transmission mechanism between the three values of corporate value was established.According to the research results,the government regulatory authorities,listed companies and investors have proposed to improve the corporate environmental information disclosure policy and regulation system,and the company to strengthen the level of environmental information disclosure.