Corporate Sustainable Development Information Disclosure And Earnings Management

China is the largest country of carbon emissions in the world,and the "double carbon" strategic goal has become a new goal and new task for sustainable economic and social development in the new era.At the corporate level,in order to promote coroprate sustainable development,many guidelines and regulations have been issued at home and abroad.However,with the exposure of financial fraud scandals of some enterprises,earnings management has become a serious problem in China’s securities market.At the same time,there are ambiguities in the motivation of corporate sustainable development information disclosure: on the one hand,enterprises’ disclosure of sustainable development information is motivated by morality,which will inevitably inhibit their own earnings management behavior;On the other hand,the information disclosure of enterprises’ sustainable development is motivated by impression management,thus covering up their speculative behaviors such as earnings management.It can be seen that the study of the relationship between corporate sustainable development information disclosure and earnings management will help to clarify the motivation of corporate sustainable development information disclosure,identify and inhibit corporate earnings management behavior,and ultimately promote the sustainable development of Chinese enterprises.To clarify the relationship between corporate sustainability disclosure and earnings management of Chinese listed firms.First of all,this paper takes research objects:Shanghai and Shenzhen A-share listed firms from 2010 to 2019,based on corporate sustainable development index constructed in this paper,we discuss the relationship between corporate sustainable disclosure and actual earnings management of Shanghai and Shenzhen A-share listed firms.Secondly,this paper also discusses the regulatory role of political links,financing constraints and property rights on corporate sustainability disclosure and actual earnings management.Finally,we further confirmed the robustness of the research results through endogenous test and robustness test.This paper draws some conclusions: First of all,the relationship between corporate sustainability disclosure and earnings management is a positive correlation.Secondly,the nature of property rights significantly negatively regulates the promotion of information disclosure of sustainable development of enterprises on real earnings management.Thirdly,the senior executives political connection significantly and negatively regulates the relationship of corporate sustainable development information disclosure on real earnings management.Finally,financing constraints significantly and negatively regulate the promotion of corporate sustainable development information disclosure on real earnings management.This study has the following innovations: First,this study reveals the positive correlation between sustainable development information disclosure and earnings management,which expands the relevant research on the influencing factors of corporate earnings management.Secondly,based on the MD&A text,this paper constructs the enterprise sustainable development information disclosure index(CSDI)using text mining technology.This broadens the measurement research of enterprise sustainable development information disclosure.Thirdly,this paper also explores the regulatory effects of political linkage,financing constraints and property rights on the information disclosure and real earnings management of enterprises’ sustainable development.This can further help relevant departments to identify the motivation of different types of enterprises to disclose sustainable development information,ultimately promote the healthy and sustainable development of Chinese enterprises.