The Impact Of Government Supervision And Equity Structure On Carbon Disclosure

With the global warming,It is the current trend that developing a green and low-carbon economy today.In response to the international call for green and low-carbon development,many countries have made great efforts to respond positively.For example,in 2002,the United Kingdom launched the Carbon Disclosure Project(CDP).China launched a pilot activity of carbon trading in 2012 and have gradually established a carbon trading market.Hong Kong's “Companies Ordinance,” which took effect in March 2014,mandates companies registered in Hong Kong to issue Environmental information bulletins.More and more companies have established low-carbon sectors to attach importance to energy saving and emission reductions.We have seen many companies have disclosed carbon information in their social responsibility reports and sustainability reports in recent years.This paper selects data samples related to a total of 1024 companies listed on the Main Market of Shenzhen Stock Exchange and Shanghai Stock Exchange in 2013-2016 as samples.And studies the impact of corporate governance and government supervision on the quality of carbon disclosure.In this article we first introduces the status and the quo of carbon disclosure research at home and abroad,then analyzes the factors that affect the quality of carbon emissions disclosed by enterprises.Based on this,it proposes the research hypotheses;Secondly,it draws on the UK CDP scoring framework and scholars' carbon disclosure index.Based on the idea,a assessment framework of carbon information disclosure is constructed to measure the dependent variable,which is collected by carefully read and manually score the annual reports,social responsibility reports,and environmental information reports of listed companies.Other variables such as the concentration of ownership,the size of the board of directors,and the size of the board of supervisors are all derived from Cninfo Network,the official website of the Shenzhen Stock Exchange,the official website of the Shanghai Stock Exchange,Guotai'an Database.In the empirical part of this paper it uses SPSS,Excel and other software.First of all,it takes a sample of 1024 listed companies as the object of multiple regression analysis,And then the whole sample is divided into two groups of state-owned enterprises and non-state-owned enterprises to group return,to have further respectively analysis of the nature of the impact of regulation and internal corporate governance on the quality of carbon disclosures by different equity in the government.We found that China's overall carbon information disclosure quality is relatively low.With respect to internal governance characteristics,the higher the degree of ownership concentration,the more it can affect the level of carbon information content disclosed by enterprises,especially in state-owned enterprises.