| 股权结构、管理层行为对环境信息披露影响的实证研究——来自沪市重污染行业的经验证据 |
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| 引用本文： | 黄珺,周春娜.股权结构、管理层行为对环境信息披露影响的实证研究——来自沪市重污染行业的经验证据[J].中国软科学,2012(1):133-143. |
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| 作者姓名： | 黄珺 周春娜 |
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| 作者单位： | 湖南大学工商管理学院,湖南长沙,410082 |
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| 基金项目： | 湖南省高校创新平台开放基金项目(10K013);湖南省风险导向审计研究基地 |
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| 摘 要： | 企业环境信息披露水平与管理层行为有着密切关联,而股权结构又影响着管理层的行为决策。在当前管理层存在选择性披露行为的背景下,股权结构是否有助于遏制管理层的这种行为,进而提高我国企业的环境信息披露水平呢?本文以2007-2010年沪市A股重污染行业平均资产排名前20%的上市公司为研究对象,在委托代理理论和利益相关者理论基础上,实证检验了股权结构、管理层行为对环境信息披露选择的影响。研究结果表明,控股股东、制衡股东和政府部门对管理层的监管能有效引导管理层积极披露环境信息;管理层持股也有利于企业环境信息披露水平的提高。
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| 关 键 词： | 股权结构 环境信息披露 管理层行为 利益相关者 |
Empirical Research on the Impact of Ownership Structure and Management Behavior on the Environmental Disclosure:Evidence from Heavy Polluting Industries Listed in Shanghai Stock Exchange |
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| HUANG Jun
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ZHOU Chun-na.Empirical Research on the Impact of Ownership Structure and Management Behavior on the Environmental Disclosure:Evidence from Heavy Polluting Industries Listed in Shanghai Stock Exchange[J].China Soft Science,2012(1):133-143. |
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| Authors: | HUANG Jun ZHOU Chun-na |
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| Institution: | (Business School,Hunan University,Changsha 410082,China) |
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| Abstract: | The bad performance of environmental disclosure in Chinese enterprises has a direct correlation to the management behavior,which is directly affected by the Changes of ownership structure.Against the background of management’s selective disclosure,is ownership structure helpful to restrain this behavior of management,and improve the level of corporate environmental information disclosure? In this paper,we choose the listed companies whose average assets are the top 20% in heavy polluting industries from Shanghai A-share in the period of 2007-2010 as our research samples.Based on the principal-agent theory and the stakeholder theory,we empirically test the effect that ownership structure have on the environmental disclosure selection.The results show that the managements are actively disclose environmental information under the supervision of controlling shareholders,activist stockholders and government departments;managerial ownership is also conducive to raise the level of corporate environmental information disclosure. |
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| Keywords: | ownership structure environmental disclosure management behavior stakeholders |
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