scholarly journals Does Environmental Information Disclosure Make Firms’ Investments More Efficient? Evidence from Measure 2007 of Chinese A-Listed Companies

2020 ◽  
Vol 12 (5) ◽  
pp. 1895 ◽  
Author(s):  
Xiaopeng Wang ◽  
Xueyao Shen ◽  
Yongliang Yang
Keyword(s):  
Information Disclosure ◽  
Capital Allocation ◽  
Vital Role ◽  
Environmental Information ◽  
Investment Efficiency ◽  
Firm Level ◽  
Listed Firms ◽  
Capital Allocation Efficiency ◽  
Environmental Information Disclosure ◽  
Robust Evidence

Using a sample of 2822 Chinese A-listed firms over the 2002–2015 period and the propensity score matching with difference-in-differences (PSM-DID) approach, we estimate the causality of environmental information disclosure (EID)’s impact on investment efficiency based on a quasi-experiment in 2007. This paper finds strong and robust evidence that there is a significant positive connection between EID and company investment efficiency in China. We further determine that heterogeneity of EID’s performance appears in the different settings of industry and subdivision industries. The significance of several sub-industries disappeared while the others retained larger significant coefficients than the whole industry case. The probability that an enterprise issues an environmental annual report has a significant positive link with investment efficiency in heavy industry, while this relationship is weakened or even not obvious in non-heavy polluting industries. Finally, we find that employee compensation serves as a mediator from which EID has an indirect effect on investment efficiency. Our results confirm that EID plays a vital role in firm-level capital allocation efficiency.

scholarly journals The Determinants of Environmental Disclosure Quality: Empirical Evidence from Indonesia

2021 ◽  
Vol 4 (1) ◽  
pp. 41
Author(s):  
Pricilia Angela ◽  
Sofik Handoyo
Keyword(s):  
Information Disclosure ◽  
Stock Exchange ◽  
Sustainability Reporting ◽  
Environmental Information ◽  
Disclosure Quality ◽  
Environmental Disclosure ◽  
Listed Firms ◽  
Environmental Information Disclosure ◽  
The Relationship

Sustainability issues have increased the need for stakeholder toward environmental information disclosure. Quality of environmental information is pivotal for stakeholders to make a proper assessment of a firm’s environmental performance. This study examines the relationship between a firm’s characteristics and environmental disclosure quality. Firm’s characteristics in this study refer to the size, ownership concentration, age, and leverage. Content analysis of sustainability reporting was applied in this study. The study involved 33 listed firms in Indonesia Stock Exchange (IDX) that are consistently issued sustainability reporting during 2014-2016. Simultaneously test indicated that characteristics of the firm significantly explain the variance of environmental disclosure quality. However, partially test showed that leverage is the only variable significantly influenced environmental disclosure quality. 

scholarly journals Incentives for Corporate Environmental Information Disclosure in China: Public Media Pressure, Local Government Supervision and Interactive Effects

2021 ◽  
Vol 13 (18) ◽  
pp. 10016
Author(s):  
Jia Xue ◽  
Youshi He ◽  
Ming Liu ◽  
Yin Tang ◽  
Hanyang Xu
Keyword(s):  
Local Government ◽  
Information Disclosure ◽  
Interactive Effect ◽  
Environmental Information ◽  
Interactive Effects ◽  
Listed Firms ◽  
Public Media ◽  
Government Supervision ◽  
Environmental Information Disclosure ◽  
The Government

Disclosing environmental information is essential for listed firms to demonstrate social conscience. To fulfill government and public media supervision, Chinese listed firms are increasing the quality and quantity of disclosed environmental information. This elicits a new topic of interest: the correlation between media/government supervision and corporate environmental information disclosure (EID). The paper addresses this issue through data analysis and factor correlation study in data from some high-pollution firms in China during 2017–2019. The study first introduces a standardized definition for the quantification of media and government supervision, as well as the degree to which the corporation discloses the environmental information. Then, the correlations between the factors are isolated and refined to three sub-topics: (1) how public media and local government supervision affect the quality of corporate EID; (2) how is the interactive effect of public media and government supervision related to corporate EID; (3) how is the distinct ownership of corporate affect the government supervision on corporate EID. The concluding result from the above factor analysis could provide guidance for authorities to adjust certain laws and regulations so that the media and government supervision better motivates the corporate EID, and furthermore, better sustainable development of ecological environment.

Political connection, political promotion and corporate environmental information disclosure in China

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yuxuan Li ◽  
Christina W.Y. Wong ◽  
Xin Miao
Keyword(s):  
Information Disclosure ◽  
Rent Seeking ◽  
Environmental Information ◽  
The Political ◽  
Political Connection ◽  
Content Type ◽  
Listed Firms ◽  
Top Executives ◽  
Environmental Information Disclosure ◽  
The Impact

Purpose This study aims to examine how the political career concerns of top executives affect corporate environmental practices. Design/methodology/approach Based on rent-seeking theory, this work uses empirical analysis to investigate the impact of top executives’ political connection and political promotion on corporate environmental information disclosure (EID). Data were collected from Chinese listed firms in heavily polluting industries in the Shanghai Stock Market in 2014–2016. Findings The results reveal that the highly politically connected top executives are more likely to be promoted in their political positions than their counterparts. However, the firms under the management of these highly politically connected executives show low level of EID. The results suggest that the political motivations of top executives with political connection hinders corporate EID. Originality/value This paper extends literature system about the impact of executives' rent-seeking on corporate EID by examining the informal mechanisms in terms of political connection and political promotion. It provides insights for studies of corporate environmental strategies and governmental environmental responsibility.

scholarly journals Evaluation of Environmental Information Disclosure of Listed Companies in China’s Heavy Pollution Industries: A Text Mining-Based Methodology

2021 ◽  
Vol 13 (10) ◽  
pp. 5415
Author(s):  
Rongjiang Cai ◽  
Tao Lv ◽  
Xu Deng
Keyword(s):  
Text Mining ◽  
Information Disclosure ◽  
Listed Companies ◽  
Environmental Information ◽  
Evaluation Framework ◽  
Scoring Method ◽  
Study Results ◽  
Environmental Information Disclosure ◽  
Heavy Pollution

Environmental information disclosure (EID) of listed companies is a significant and essential reference for assessing their environmental protection commitment. However, the content and form of EID are complex, and previous assessment studies involved manual scoring mainly by the experts in this field. It is subjective and has low timeliness. Therefore, this paper proposes an automatic evaluation framework of EID quality based on text mining (TM), including the EID index system’s construction, automatic scoring of environmental information disclosure quality, and EID index calculation. Furthermore, based on the EID of 801 listed companies in China’s heavy pollution industry from 2013 to 2017, case studies are conducted. The case study results show that the overall quality of the EID of listed companies in China’s heavily polluting industries is low, and there is a gap differentiation between the 16 industries. Compared with the subjective manual scoring method, TM evaluation can evaluate the quality of EID more effectively and accurately. It has great potential and can become an essential tool for the sustainable development of society and listed companies.

Analysing and evaluating environmental information disclosure in universities: the role of corporate governance, stakeholders and culture

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jesús Mauricio Flórez-Parra ◽  
Maria Victoria Lopez-Perez ◽  
Antonio M. López Hernández ◽  
Raquel Garde Sánchez
Keyword(s):  
Information Disclosure ◽  
Stakeholder Participation ◽  
Environmental Information ◽  
Content Type ◽  
Environmental Actions ◽  
Determining Factors ◽  
Environmental Information Disclosure ◽  
Internal And External Factors ◽  
The University

Purpose The purpose of this paper is to analyse the internal and external factors related to the disclosure of environmental information in universities which reflect the actions carried out in these universities. Design/methodology/approach Taking as reference the first 200 universities in the Shanghai ranking, several factors associated with the degree of environmental information disclosure in universities – governance dimension, the relationship and participation of stakeholders, position and prestige as signs of the quality of the institution and cultural concern in the university’s country for the environment – are analysed. Findings The results obtained show that the size of the leadership team, stakeholder participation, the position of the university in rankings and cultural concern in the university’s country for the environment are determining factors in the university’s environmental actions and, consequently, in their disclosure. Other factors – such as the size of the university, the level of self-financing and financial autonomy – do not affect the disclosure of environmental information. Originality/value Scant research exists on the environmental commitments of universities; this paper aims to fill that gap. Their role as the main channel of research and as instructors of future professionals makes them points of reference in society. Research on university ranking has traditionally focussed on teaching and research results, but environmental issues are becoming increasingly important. This paper enumerates the factors that influence the dissemination of environmental information in the most prestigious universities. This research also provides an original approach by considering not only top-down but also bottom-up strategies through communication channels and the incidence of cultural factors.

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