An Empirical Study on Impacts of Environmental Regulation on Environmental Information Disclosure of Listed Companies of China: Based on Researches on Listed Companies in Nonferrous Metal Industry

Xiaobo WEI, Jue PENG

Abstract


With rapid development of economy, environmental pollution becomes increasingly serious, which not only affects quality of our life but also threatens our living conditions. Since the 1990s, the percentage that Chinese listed companies’ voluntary environmental information disclosure has increased to a larger extent and the content disclosed by many enterprises has gone beyond scope required by laws. Under this background, this paper combines with current status of environment information disclosure of Chinese listed companies, takes listed companies of non-ferrous metal industry in Shanghai and Shenzhen from 2006 to 2011 as samples, and studies impacts of environmental information disclosure system and environmental regulation intensity on environmental information disclosure. In addition, it carries out empirical tests on sample data of companies and implements robustness tests on regression results to exclude influence of differences between new and old criterion on comparability of accounting data. By virtue of positive analysis, it is found that corporate features like scale of company, financial risk, growth ability and profitability have great influence on environment information disclosure, and implementation of environment information disclosure and environmental regulation intensity have significant impacts on environment information disclosure.

Keywords


Environment; Accounting; Information disclosure; System; Intensity of environmental regulation

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References


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DOI: http://dx.doi.org/10.3968/4329

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