WSEAS Transactions on Systems and Control
Print ISSN: 1991-8763, E-ISSN: 2224-2856
Volume 10, 2015
The Effects of Corporate Ownership Structure on Environmental Information Disclosure—Empirical Evidence from Unbalanced Penal Data in Heavy-Pollution Industries in China
Authors: ,
Abstract: This paper empirically examines the content and degree of environmental information disclosure for 671 corporate in eight heavy-pollution industries in the period from 2008 to 2012. The means and standard deviations of corporate EID exhibit an increasing trend, and corporate in heavy-pollution industries have greater divergent standpoint in voluntary environmental information disclosure. Corporate with more institutional investors-owned ownership and ownership concentration have significantly positive effects on voluntarily environmental information disclosure at the 95%confidence level. Our empirical results exhibit that Corporate with greater institutional owners-owned ownership and ownership concentration should voluntarily disclose more environmental information, should communicate with institutional owners and minority controlling shareholders firms’ environmental achievements and then strengthen their investment confidence and improve shareholders’ interests.
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Keywords: environmental information disclosure, ownership structure, ownership concentration, institutional owner, top managers
Pages: 405-414
WSEAS Transactions on Systems and Control, ISSN / E-ISSN: 1991-8763 / 2224-2856, Volume 10, 2015, Art. #43