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

Xue, Jia; He, Yulin; Liu, Ming; Tang, Yin; Xu, Hanyang

doi:10.3390/su131810016

Cited by 38 publications

(18 citation statements)

References 46 publications

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“…Kong et al (2020) reviewed the literature and pointed out that media attention induces firms to exert more effort on environmental protection, especially when there are adverse media reports. Xue et al (2021) empirically found that both media attention and government regulation were significantly positively correlated with environmental information disclosure; notably, the more adverse the effect of government regulation, the more media attention promotes environmental information disclosure. Based on the above analysis, we propose the following hypothesis:…”

Section: Research Hypothesesmentioning

confidence: 98%

Sustainable corporate environmental information disclosure: Evidence for green recovery from polluting firms of China

Long

Chen²,

Li³

et al. 2022

Front. Environ. Sci.

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For a greener society, good corporate environmental information disclosure is crucial. This study empirically examines the influence of media attention and state-owned equity, and their interaction on corporate environmental information disclosure by A-share heavily polluting firms in the Shanghai and Shenzhen stock markets from 2015 to 2019. The results show that state-owned equity can improve the level of corporate environmental information disclosure; however, it mainly affects financial environmental information disclosure. Media attention also improves the level of corporate environmental information disclosure, but only for non-financial environmental information. Moreover, media attention and state-owned equity have a certain substitution effect on environmental information disclosure: a higher state-owned equity ratio weakens the positive effect of media attention on environmental information disclosure. To improve environmental information disclosure, the government must clarify disclosure standards to improve the comparability of environmental information. In addition, media and shareholders can fully leverage their external and internal supervisory roles to promote the environmental responsibilities of firms. Our findings can be useful for further promoting corporate environmental information disclosure and developing relevant policies.

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Section: Research Hypothesesmentioning

confidence: 98%

Sustainable corporate environmental information disclosure: Evidence for green recovery from polluting firms of China

Long

Chen²,

Li³

et al. 2022

Front. Environ. Sci.

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show abstract

“…The forest plot output from the meta-analysis based on the random effects model showed (see Figure 6 ) that three studies clearly crossed the zero cut-off, identifying the work of Jiménez-Parra et al (2018) [ 52 ] on enterprise environmental behavior, Aboelmaged (2017) [ 54 ] on enterprise social behavior, and Xue et al (2021) [ 60 ] as outliers. Therefore, these studies were excluded from this study.…”

Section: Methods and Datamentioning

confidence: 99%

What Is the Mechanism of Government Green Development Behavior Considering Multi-Agent Interaction? A Meta-Analysis

Dai

Zhu

et al. 2022

IJERPH

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Worsening environmental problems have created more and more challenges for green development, and the government is often seen as an important guide in turning this situation around. A government generally enacts green development through green development behavior, but previous research has not revealed the mechanism of this behavior. In addition, the multi-agent interaction between the government and green development behavior also needs to be explored. Based on an integrated theoretical model, the authors of this study adopted a meta-analysis method to analyze 18 high-quality published pieces from 6 mainstream databases and described the mechanism of government green development behavior in exploring and thinking about multi-agent interactions. In addition, the authors of this study explored differences in the roles of central and local government green development behaviors and the moderating role of regional heterogeneity. The research results showed that: (1) Enterprise economic behavior, enterprise environmental behavior, enterprise social behavior, and public participation are all significantly positively affected by government green development behavior; (2) local government green development actions have stronger effects than central government actions; (3) regional heterogeneity moderates the effect of government green development behavior. Furthermore, the authors of this study propose relevant countermeasures and suggestions from the government’s point of view. This research provides a theoretical and practical reference for governments to better improve their environmental systems and environmental supervision.

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“…Numerous studies have also demonstrated that the most convenient way for analysts to obtain corporate information is still through the media [ 73 ], implying that the mining and dissemination of corporate information by analysts can increase the public information available to the media. On the one hand, previous literature also confirms that media attention plays an equally important role in corporate environmental governance [ 10 , 74 ], and the strong pressure of media attention on public opinion can monitor corporations toward improving the quality of their environmental disclosures and, thus, their image in regulating environmental mismanagement [ 75 , 76 , 77 ]. On the other hand, the external public pressure caused by media attention leads to government intervention.…”

Section: Empirical Analysismentioning

confidence: 96%

Analyst Site Visits and Corporate Environmental Information Disclosure: Evidence from China

Fan

Yao²

2022

IJERPH

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Compared with developed countries, emerging economy countries are facing more severe environmental challenges. Therefore, effective disclosure of corporate environmental information is an important concern for emerging economies to cope with environmental issues. There is a growing volume of literature documenting that analyst site visits can urge corporations to provide high-quality financial information to investors. However, whether analyst site visits can also improve the quality of environmental information is still unclear. In the Chinese setting, where environmental information has attracted much attention, we explore the interaction between analyst site visits and environmental information disclosure. With three regression methods of the ordinary least squares model, two-stage least square model, and difference-in-difference model, we establish regressions to verify the relationships between them by using empirical data from 2012 to 2019 in China. The results show that analyst site visits are significantly positively correlated with corporate environmental information disclosure. This positive relation is more pronounced when corporations are in economically developed and highly market-oriented areas, in poor air quality areas, and for corporations with good, reasonable internal governance. In addition, we find that analyst site visits affect the quality of environmental information disclosure through the intermediary effect of media attention. In the robustness test, further evidence also indicates that the interaction between analyst site visits and corporate environmental information disclosure was more significant before the COVID-19 lockdown policy was implemented in Wuhan. Our findings suggest that governments should provide support for analysts to conduct site visits and formulate regulations on mandatory disclosure of environmental information by different regions as soon as possible.

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

Cited by 38 publications

References 46 publications

Sustainable corporate environmental information disclosure: Evidence for green recovery from polluting firms of China

Sustainable corporate environmental information disclosure: Evidence for green recovery from polluting firms of China

What Is the Mechanism of Government Green Development Behavior Considering Multi-Agent Interaction? A Meta-Analysis

Analyst Site Visits and Corporate Environmental Information Disclosure: Evidence from China

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