环境信息披露、行业差异和外部制度压力相关性研究——来自我国沪市上市公司环境信息披露的经验证据

当前我国发生了环境污染和生态失衡的一系列重大事件,社会公众要求上市公司披露环境信息的呼声越来越高,同时引发了人们对外部监管制度有效性的争论:外部监管制度是形同虚设,还是一直静静地发挥着它应有的作用?本文以我国沪市上市公司为例,对环境信息披露、行业差异和外部制度压力之间关系进行了实证研究。结果发现,环境信息披露状况受到行业差异和外部环境监管制度压力的显著影响,环境信息披露水平在重污染和非重污染行业之间存在明显差异,而且这种差异与行业间外部制度压力差异的相关性十分明显。外部监管制度约束对提高环境信息透明度功不可没。

Research on the Correlation among Environmental Information Disclosure, Industry Differences and Supervisory System

As environmental problems are becoming serious in China at present,the public begin to pay attention to the environmental information disclosure of listed companies.At the same time researchers concern: Is environmental supervisory system effective? Based on the annual report data of companies listed at Shanghai Stock Exchange,the paper conducts empirical analysis on correlation between industry differences,supervisory system and environmental information disclosure.The study reveals that supervisory system has the positive influence on environmental information disclosure and that environmental information disclosure are differences between heavy pollution industry and un-heavy pollution industry,which have positive relationship with differences among supervisory systems of different industries.According to the results,governmental supervisory system on environment could improve environmental information disclosure transparency.