The Impact Of Environmental Accounting Information Disclosure On The Value Of The Steel Industry

Since the party 's 19 th National Congress in November 2017 put forward the need to adhere to the harmonious coexistence of man and nature,adhere to save resources and protect the environment,people have increasingly paid attention to the construction of ecological civilization and environmental protection.In addition,the frequent occurrence of smog and abnormal climate also makes people realize that environmental protection is closely related to their own quality of life.How to achieve a balance between economic development and ecological civilization has become a hot topic in academic circles.As one of the important roles of China's economic and social development,listed companies have received more and more attention to their impact on the environment during the production process.Not long ago,the news that "Nongfu Mountain Spring was accused of destroying forests in Wuyi Mountain to fetch water,seriously violating the" Environmental Protection Law "" came to the attention of the public,and its company image plummeted.Related departments have also opened a case for investigation.In June 2008,the Ministry of Environmental Protection issued the "List of Classified Management of Environmental Protection Industry of Listed Companies" to classify the steel industry as a heavily polluting industry.Therefore,at a time when the public is increasingly concerned about environmental protection and the country is vigorously promoting green development,this article chooses the steel industry as the research object to explore the impact of the company's environmental accounting information disclosure on the company's value,hoping to have some inspiration for the future development of environmental accounting information.First,this article defines related concepts and defines the concepts of company value,environmental accounting information,and environmental accounting information disclosure.After that,the content analysis method is used to construct an environmental information disclosure index for listed companies in the steel industry in China,and its value to the company Impact.Specifically,in the theoretical research chapter of Chapter 1,this article introduces the specific research background,possible contributions,and significance.Next,this article reviews,classifies,and summarizes relevant research at home and abroad.The specific theories are introduced and the specific applications of these theories in the field of environmental disclosure research are explained.Based on the literature review and related theoretical research,based on the annual report and sustainable development report disclosed by Baoshan Iron and Steel from 2014 to 2018,the content analysis method and discounted cash flow model were used to analyze the environmental information disclosure index and company value Based on the analysis,finally,based on the analysis,put forward suggestions for improvement from three perspectives of the company,the government,and the society,to help Baoshan Iron and Steel improve its environmental accounting information disclosure quality and company value..Specifically,this article uses the content analysis method to reflect the annual disclosure of environmental accounting information of Baoshan Iron and Steel.The discounted cash flow model was used to calculate the value of the company and explore the specific role of environmental information disclosure level on the value of the company.The final results show that the disclosure of the company's environmental accounting information will reduce operating costs,financial expenses,income tax expenses,operating current liabilities,and increase operating income,fixed assets,intangible assets,goodwill,and long-term deferred expenses.In the end,we believe that in the steel industry,disclosure of environmental accounting information will increase the value of the company.At the same time,the company can play a positive signal role through the disclosure of environmental information to meet the demands of stakeholders,thereby increasing the value of the company.