Research On The Influencing Factors Of Enterprise Environmental Information Disclosure

In recent years,various problems related to the environment have become the focus of the society and scholars,and the country is increasingly advocating green.However,global warming,abnormal weather and accelerated glacier melting rate all reflect that the environmental governance effect is not obvious,and environmental problems are still serious.In 2018,environmental problems such as huifeng and shangfeng cement were investigated,which also showed that there is still much room for improvement.The article analysis the influence factor of enterprise environmental information disclosure theory mainly includes the principal-agent theory,the signal transmission theory and externality theory,the influence factors of selecting include internal and external two aspects: the selection from the enterprise internal corporate governance,external selection index of industry competition,and in-depth study on the impact process,the relation of the two factors is a substitute or a complementary relationship.Because scholars research on corporate governance and environmental information disclosure is mainly by choosing a single or a few variables,the article on the basis of comprehensive consideration of various factors,from two dimensions of supervision and motivation to construct corporate governance index,including ownership concentration,the independent director supervision dimension ratio nine indicators,such as incentive dimension including the board shareholding,the top three executive compensation and so on six indicators,a total of 15 indicators,and using the factor analysis method to test and calculation of selected indicators.On this basis,the paper selects the C value of the social responsibility report of runling global to measure the disclosure of corporate environmental information,and the HHI index to distinguish the degree of competition in the industry.Based on the screening data of enterprises in heavy pollution industries in runling global social responsibility rating report from 2016 to 2018,the paper finally obtained 708 samples from 236 listedcompanies to empirically-test the influencing factors of environmental information disclosure.The conclusions of this paper include :(1)since 2016,the environmental information disclosure level of sample enterprises has been increasing year by year,but the overall level is low,and the disclosure level gap between enterprises is still large;(2)corporate governance,its supervision mechanism and incentive mechanism are positively correlated with environmental information disclosure;(3)The more intense the industry competition,the higher the level of environmental information disclosure;(4)the influence of corporate environmental information disclosure,the index of industry competition and corporate governance,incentive mechanism has alternative relations,there is a complementary relationship and supervision mechanism,namely under the condition of the fierce competition in the industry,supervision mechanism of environmental information disclosure of the positive correlation is more apparent,corporate governance,incentive mechanism for environmental information disclosure of positive relationship is weakened.Finally,this paper puts forward suggestions from the perspectives of government,industry,public and enterprise.