Research On The Relationship Between Management Characteristics And Disclosure Of Environmental Information By Listing Companies

Due to the aggravation of environmental pollution in recent years,the environmental information disclosure of enterprises has received more attention from the society.At present,China's listed companies generally lack awareness of environmental information disclosure,and the level of disclosure is uneven.Based on the theory of high-level echelon,managers have different cognitive ability,values and business philosophy due to their different backgrounds,and there will be differences in the relevant decisions on environmental information disclosure.Therefore,from the characteristics of the management of listed companies,this paper discusses how they affect the level of environmental information disclosure.Based on the data of A-share listed companies in Shanghai Stock Exchange of China from 2014 to 2018,this paper combines the relevant analysis results of the past academic circles on management characteristics and environmental information disclosure,put forward the research hypothesis.Based on stata15,panel data regression analysis was carried out on the influence of 636 listed companies' average educational background of management,proportion of overseas experience of management,average age of management,proportion of overseas experience of management and average age of management,and concurrent experience of management on the level of environmental information disclosure.The results show that:(1)The average educational background of management has a significant positive impact on the level of environmental information disclosure;(2)The proportion of overseas experience of management has a significant positive impact on the level of environmental information disclosure(3)the average age of management has a significant negative impact on the level of environmental information disclosure;(4)The interaction between the proportion of overseas experience of management and the average age has a significant positive impact on the level of environmental information disclosure;(5)The proportion of concurrent experience of management has a significant positive impact on the level of environmental information disclosure.According to the research results,this paper puts forward the corresponding suggestions from the three levels of enterprise,government and society,and also points out the research deficiencies and prospects of this paper.The innovation of this paper lies in:(1)In terms of research perspective,based on the characteristics of the whole industry management,the research on environmental information disclosure has broadened the scope of existing research on the influencing factors of environmental information disclosure;(2)In terms of research content,two characteristic variables of the overseas experience of management rarely involved by predecessors and the concurrent experience of management,are selected to deepen the existing research on influencing factors of environmental information disclosure;At the same time,the influence of the interaction of overseas experience and age on environmental information disclosure is further studied,which enriches the width of the existing research on the influencing factors of environmental information disclosure.