Research on the Financial Impact of Ecological Environment Information Disclosure on Heavy Polluting Enterprises

Desheng Huang, Tianqi Zhang, Caihong Zhao

Ekoloji, 2018, Issue 106, Pages: 1055-1063, Article No: e106074

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Abstract

In order to study the relationship between financial and ecological environmental information disclosure of heavily polluting enterprises, a combination of theory and empirical methods was applied. In terms of the theoretical part, relevant literatures at home and abroad were reviewed, and the corresponding theoretical basis was outlined. Subsequently, the basic characteristics of the enterprise environment were discussed. The financial impact of the disclosure of eco-environmental information on heavily polluting enterprises was analyzed. In terms of the empirical test, the key was to conduct an empirical study of the proposed hypothesis. The results showed that among the influencing factors of environmental information disclosure, the asset size of the enterprise, the establishment of the environmental protection department, the financial leverage and the level of environmental information disclosure were significantly positively correlated. The growth rate of operating income was significantly negatively correlated with the level of environmental information disclosure. Therefore, with the increase of the degree of environmental information disclosure, the corresponding enterprise value and return on net assets show an upward trend. The disclosure of eco-environmental information has a positive impact on enterprise finance.

Keywords

heavy polluting enterprise, environment, information disclosure, financial performance

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