Study On The Impact Of Government Supervision And Managerial Cognition To Corporate Environmental Information Disclosure

Many scholars think legal system is the deciding factor beyond the numerous that affect corporate environmental information disclosure,and the fact that the legal system is not the single determinant that begins to be accepted by researchers when the rising level of corporate environmental disclosure could not meet expectations,as two regulations related to corporate environmental information disclosure be enacted by the Chinese government in 2008,and the legal system of corporate environmental information disclosure in heavy polluting industries in 2010.The enforcement of laws such as government supervision,as well as internal factors such as the attitude and cognition of managers should be studied as important factors.Therefore,two perspectives include government supervision and managerial cognition would be studied in the paper.And how the government supervision affects corporate environmental disclosure?How does the managerial cognition influence the cor:porate environmental information disclosure?Can corporate environmental disclosure be strengthened by managerial cognition under the condition of grater government supervision?This paper attempts to use empirical research to solve the above problems.Theoretically,the paper analyses the effects on corporate environmental information disclosure by government supervision and managerial cognition.And then,gathering A-share listed companies in manufacture industries as research samples,using PITI index(i.e.,China's pollution index of regulatory information disclosure)to measure the government supervision and using the frequency of keywords "clean production","energy conservation and environmental protection","safety and environmental protection","green environmental protection " to measure managerial cognition.Scores based on He Xun(financial website)include the listed companies' social responsible evaluation system are to measure the level of corporate environmental disclosure.And test the effects of government supervision,managerial cognition on corporate environmental disclosure by establishing multiple linear regression model.By testing the results about robustness,the study does not find the conclusion of this study has a significant change.The results show that the level of corporate environmental disclosure would be higher on the condition that greater supervision by government and higher cognitive by managers.And managerial cognition would be strengthened by government supervision when they influence the corporate environmental disclosure.On the basic conclusion above,suggestions of the paper are given from two sides,one is that the government should use administrative means to strengthen the supervision on corporate environmental disclosure.On the other hand,the environmental awareness of managers should be strengthened,in order to promote the level of corporate environmental information disclosure.