Environmental Credit Evaluation and Corporate Environmental Information Disclosure

Abstract

Abstract: The environmental credit evaluation system is an important part of China’s social credit system. Taking the implementation of Measures for Enterprise Environmental Credit Evaluation (Trial) in 2014 as an opportunity, this paper takes A-share listed companies from 2008 to 2019 as samples to explore the impact of environmental credit evaluation system on the quality of corporate environmental information disclosure and its influencing mechanism by using the difference-in-differences model. The findings show that the environmental credit evaluation system can significantly improve the quality of corporate environmental information disclosure. The result of the mechanism analysis shows that the improving effect of the environmental credit evaluation system on the quality of corporate environmental information disclosure is achieved throughincreasing the compliance pressure and stimulating the guiding role of the diverse governing subjects. The result of further research shows that stronger regional environmental supervision efforts, higher regional financial development level and stronger media environmental supervision can strengthen the role of the environmental credit evaluation system in improving the quality of corporate environmental information disclosure.

Key words: environmental credit evaluation, the quality of environmental information disclosure, agency costs, environmental performance

CLC Number:

F208

ZHONG Hai-yan, WANG Jiang-han. Environmental Credit Evaluation and Corporate Environmental Information Disclosure[J]. Contemporary Finance & Economics, 2023, 0(2): 144-156.

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