The Study On The Relationship Between Enterprise Value And Environmental Information Disclosure

For a long time,Chinese environmental protection lags behind economic and social development,and the carrying capacity of the environment has reached or approached the upper limit.Under the development strategy centered on economic growth,resources are overexploited and utilized,leading to serious environmental pollution and ecological imbalance.Environmental issues are widely concerned by the government,investors,and the public,and have become global issues that the human society needs to deal with together.With the continuous progress and development of social economic and culture,the demand for agricultural products in human society is also increasing,and agricultural enterprises are aware that traditional agricultural production is no longer able to meet the growing material and cultural needs of human beings.Therefore,they have been constantly changing the mode of production to achieve the transformation and upgrading of traditional agriculture.During the process of transformation,the excessive exploitation and utilization of water,soil,forests,grasslands,marine resources and the unreasonable use of chemical products such as fertilizers,pesticides and antibiotics have led to the aggravation of the pollution of the underground water bodies and air.the environmental problems that arise in the course of agricultural production are worrying.Based on stakeholder theory,decision-making usefulness theory,corporate social responsibility theory,information asymmetry theory,environmental supervision,supervision and external legal regulation,Build an environmental disclosure index and analysis of the Correlation between Enterprise Value and Environmental Information Disclosure.Research on37 agricultural enterprises of A-share listed company.The conclusions of the paper corporate social responsibility report and annual report selected during 2013-2017,as well as CSMAR related data,Using SPSS software for analysis.Through empirical analysis:(1)The higher the level of environmental disclosure,with the greater the value of the enterprise;(2)Government regulation has an impact on Environmental Information Disclosure and Enterprise Value.The last,Combining with results study gives the recommendation of environmental protection in light of the conclusions:(1)Improving government supervision and improving laws and regulations;(2)Improving environmental auditing;(3)Improving the corporate governance structure;(4)Raising public awareness of environmental protection.