Environmental information disclosure in capital raising

Ji, Zhiying; Yu, Xiao; Yang, Jiefei

doi:10.1111/1467-8454.12176

Cited by 12 publications

(10 citation statements)

References 39 publications

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“…It shows that neither the threat of respective regulation (Stanny, 2013) nor actual regulation in place translate into a higher quantity and quality of ER. Vormedal and Ruud (2009) Furthermore, the evidence from Portugal, China and Italy shows that the introduction of ER requirements did not lead to any significant increase in corporate transparency (Ji et al, 2020;Lima Ribeiro & Aibar-Guzmán, 2010;Wang & Bernell, 2013), especially in the provision of hard, objective data (Papa et al, 2022). A similar conclusion may be drawn from the study by Ahmad and Mohamad (2014) i.e.…”

Section: Voluntary Vs Mandatory Ermentioning

confidence: 55%

“…What is interesting is that the compliance rate after the implementation of the Sarbanes–Oxley Act (SOX) in 2002 is significantly lower than prior to the Act. Furthermore, the evidence from Portugal, China and Italy shows that the introduction of ER requirements did not lead to any significant increase in corporate transparency (Ji et al, 2020; Lima Ribeiro & Aibar‐Guzmán, 2010; Wang & Bernell, 2013), especially in the provision of hard, objective data (Papa et al, 2022). A similar conclusion may be drawn from the study by Ahmad and Mohamad (2014), who find that environmental disclosures of Malaysian public construction companies produced under the stock exchange mandatory reporting regime are incomplete and largely limited to a general narrative and non‐verifiable statements.…”

Section: Resultsmentioning

confidence: 99%

“…Understanding how CG arrangement can lead to effective implementation of the regulation still requires additional analyses (Ji et al, 2020;Yang et al, 2021). While regulation can offset some limitations of company control mechanisms, both internal and external corporate governance may strengthen the enforcement of mandatory reporting legislation.…”

Section: Mandatory Reporting Legislation and Ermentioning

confidence: 99%

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Corporate governance perspective on environmental reporting: Literature review and future research agenda

Aluchna,

Roszkowska‐Menkes,

Khan

2023

Corp Soc Responsibility Env

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The last three decades have witnessed substantial growth in the literature exploring the motives and drivers of corporate greening. Extant research analyzing the governance determinants of corporate environmental disclosure provides competing and contrasting results; despite the growing sustainability challenges create an urgent need for effective monitoring and incentive mechanisms to promote corporate transparency and accountability. This warrants further inquiry in the field, yet very few comprehensive reviews have been presented on governance determinants of corporate environmental disclosure. To fill this gap we conduct a systematic review of 121 published papers and distinguish the governance mechanisms fostering corporate environmental disclosure. Our paper identifies factors influencing the adoption, extant, and quality of environmental disclosure, and provides useful future research directions.

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Section: Voluntary Vs Mandatory Ermentioning

confidence: 55%

Section: Resultsmentioning

confidence: 99%

Section: Mandatory Reporting Legislation and Ermentioning

confidence: 99%

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Corporate governance perspective on environmental reporting: Literature review and future research agenda

Aluchna,

Roszkowska‐Menkes,

Khan

2023

Corp Soc Responsibility Env

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“…Does regional heterogeneity affect the explanatory power of the environmental information disclosed by the government and the quality of the ecological environment? Ji (2020) and Peng (2020) found that, in the process of corporate environmental disclosure, managers tend to withhold environmental information and selectively disguise sensitive environmental information [30,31]. Tang (2020) preliminarily discussed the human causes that form the greenwashing of the local government in the stages of collecting, mediating, and disseminating environmental information [32].…”

Section: Introductionmentioning

confidence: 99%

Government Environmental Information Disclosure and Environmental Performance: Evidence from China

Zhu

Yun-li²,

Meng

2021

Sustainability

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Government environmental information disclosure (GEID) is a key policy instrument in environmental governance. Local governments in China are improving the disclosure level of environmental information, but does the environmental information disclosed by local governments reflect the existing state of the local ecological environment? This paper analyzes the correlation between GEID and environmental performance and verifies whether or not the environmental information disclosed by local governments can reflect actual local ecological environment conditions. Based on data from Chinese cities, this paper adopts a multiple regression method, and the results show that the environmental information disclosed by governments can reflect the local environmental performance as a whole, and the higher the level of GEID, the better the local environmental performance; but the relationship between the two has significant regional differences. In eastern China, the higher the level of GEID, the better the local environmental performance. In central and western China, the correlation between GEID and environmental performance is not significant. In addition, it should be noted that the correlation between the level of GEID and the emission intensity of water pollutants is not significant in all regions. This study contributes to further clarifying the effectiveness of GEID policy and identifying a breakthrough for the optimization of environmental policies faced with the dilemma of serious environmental pollution and urgent economic development needs.

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“…While the Chinese government is exploring solutions to incentivize corporations to implement CEID for improved environmental management, this enforcement of environmental regulation is still difficult to achieve due to the low level and quality of CEID in China, which has attracted public criticism [ 7 , 8 , 9 ]. In prior studies, an abundance of evidence has revealed that external public pressure from government regulation and social supervision, such as the implementation of measures for the disclosure of environmental information and government financing requirements, is an important force in driving CEID [ 10 , 11 , 12 , 13 ]. Current domestic regulators do not yet have standardized disclosure requirements for corporate environmental information [ 7 , 14 ], which suggests that inadequate access to environmental information is the main reason for China’s weak environmental management [ 15 ].…”

Section: Introductionmentioning

confidence: 99%

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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Environmental information disclosure in capital raising

Cited by 12 publications

References 39 publications

Corporate governance perspective on environmental reporting: Literature review and future research agenda

Corporate governance perspective on environmental reporting: Literature review and future research agenda

Government Environmental Information Disclosure and Environmental Performance: Evidence from China

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

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