The impact of corporate characteristics and external pressure on environmental information disclosure: a model using environmental management as a mediator.

Abstract

Since the beginning of the 21st century, a number of regulations on corporate environmental information disclosure have been issued. Given the bottom-up nature of environmental information disclosure policy, increasing concerns about influencing factors have emerged; however, the specific influencing factors and mechanisms of environmental information disclosure remain unknown. This article explores the influencing factors and mechanisms of corporate environmental information disclosure. Through a random-effect GLS regression analysis of 363 listed manufacturing companies from the Shanghai Stock Exchange for 2012-2018, we find empirical support for our prediction that the link between internal/external factors and environmental information disclosure is mediated by corporate environmental management. Some characteristics of environmental information disclosure are also identified. We present influencing mechanisms from a corporate perspective, which will be useful for top managers and regulators interested in enhancing environmental information disclosure.