External Pressures, Top Executives¡¯ Characteristics and Environmental Information Disclosure: Empirical Evidence from Listed Companies of Heavy Pollution Industry

Wenbing Luo, Juanzhi Wang and Bo Li

International Journal of Economics and Finance, 2017, vol. 9, issue 4, 140-151

Abstract: Based on stakeholder theory, this paper takes China¡¯s listed companies of heavy pollution industry from 2011 to 2014 as the research objects, and studies the working mechanism of external pressures and top executives¡¯ characteristics on level of environmental information disclosure (EDI). The results show that external pressures from government regulation and public opinion supervision significantly improve EDI; Top executives¡¯ compensation affects EDI most, followed by top executives¡¯ political connections; Top executives¡¯ shareholding is slightly positively correlated with EDI; Enterprises with political connections receive more government regulation and public opinion supervision than those without; Top executives¡¯ political connections weaken the effect of government regulation on EDI.

Keywords: level of environmental information disclosure; external pressures; top executives¡¯ characteristics; political connections (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ibn:ijefaa:v:9:y:2017:i:4:p:140-151

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