Research On The Influence Of Environmental Information Disclosure Level Of Pharmaceutical Industry On Economic Value Added Under The Property Right Regulation

Good natural environment is the inevitable requirement of sustainable economic development and the cornerstone of human life.However,with the continuous improvement of China's economy,natural resources have been wasted and the quality of ecological environment has deteriorated.How to form a virtuous circle between economic development and ecological environment and realize a win-win situation has always been one of the problems that our country emphasizes and tries to solve.As the main body of the market,enterprises should do well in environmental prevention and control while using natural resources to develop and expand,and disclose their environmental protection information to stakeholders.As one of the typical heavy pollution industries,pharmaceutical industry is closely related to people's health.Therefore,this paper studies the relationship between the level of environmental information disclosure and economic value-added of the listed companies in the pharmaceutical industry in China,and studies the regulatory role of the nature of property rights in the relationship.The results provide some theoretical guidance for improving the quality of environmental information disclosure and economic added value of pharmaceutical industry.Firstly,this paper combs the research results of relevant scholars,and expounds the internal relationship between environmental information disclosure level and economic added value with information asymmetry theory,information transmission theory,sustainable development theory,stakeholder theory and principal-agent theory.Secondly,it analyzes the current situation of environmental information disclosure level and economic added value of pharmaceutical industry.Thirdly,this paper selects the financial and internal governance data disclosed in the 2012-2018 annual report of 94 A-share listed companies in the pharmaceutical industry,as well as the external regulatory data collected and collated by hand as the research object,and uses entropy method and multiple linear regression analysis method to empirically test the impact of environmental information disclosure level on the economic added value of enterprises and the relationship between the nature of property rights and the two The regulatory effect of.The results show that thehigher the level of environmental information disclosure,the greater the value of economic added value;compared with the state-owned enterprises,the private enterprises' environmental information disclosure level has a more significant positive impact on economic added value.Finally,combined with the results of this study,some suggestions are put forward to improve the level of environmental information disclosure and economic added value.