An Empirical Research On Characteristics Of Top Management Team's Impact On Carbon Information Disclosure Of Listed Company

In recent years,global warming is seriously affecting people's production and life.To solve this problem,the implementation of energy conservation in the world to respond positively to the development of low-carbon economy.Therefore,carbon disclosure problem gradually catches each enterprise's attention.However,due to the different circumstances of each business,whether to disclose the information or not and the quality of carbon disclosure vary,and these are often decided by business executives of each team based on the actual production of their own operating conditions,the existence of carbon information disclosure requirements and cost-effective combination.Executive team plays an important role in the daily production and business activities of enterprises according to their level of education,salary status,occupation and other factors which consist of different backgrounds of top management team,therefore,carbon disclosure can not be ignored.In view of this,the paper,based on upper echelons theory,chooses A-share listed companies in Shenzhen and Shanghai stock market ranging from year 2010 to 2014 as the research sample,selects the characteristics of top management team as background factors for carbon disclosure index manual analysis.The empirical results show that:Firstly,the listed-companies with better characteristics of top management team are more willing to disclose information on carbon.Secondly,the better the characteristics of top management team of listed companies are,the higher quality the corporate carbon disclosure will be.In details,the quality of the corporate carbon disclosure of listed companies tends to be higher when the average level of education of top management team is higher or the average professional competence is stronger or the average pay is higher.Finally,based on the above conclusions,there are several suggestions on the strengthening of China's listed companies top management team building,awareness and behavior norms of Carbon Disclosure in order to improve the regulatory system of Chinese capital market.