Environmental Performance Information Disclosure of A-share Listed Companies

Abstract

The paper sample period covered the years 2007-2011 A-share listed companies of Chinese chemical industry. We used an environmental performance disclosure index and evaluated the environmental performance disclosure information (EPDI) according to the Sustainability Reporting Guidelines Version 3. 0 (G3) developed by the Global Reporting Initiative (GRI) in 2006. Then we developed a multivariate linear regression to test determinants of EPDI level. The results showed that EPDI level was critically low; Environmental award and listed place of companies were significantly positive correlated to EPDI. The EPDI level of listed companies in Shanghai Stock Exchange was better than that of Shenzhen Stock Exchange. Company size and registration place of companies were positive correlation to EPDI, but failed to pass the significant test. However, the development capability, EPS, and liability degree were negative correlation to EPDI level, and also failed to pass the significant test.