Abstract
Because of the large scale of listed companies, they are often the main responsible parties for environmental problems. Therefore, from the perspective of compensation incentive, this study made an empirical test on how the pay dispersion within top managers affects corporate environmental responsibility information disclosure. By selecting A-share companies listed in Shanghai or Shenzhen Stock Exchange which published corporate social responsibility reports from 2008 to 2018 as research samples, a multivariate regression analysis model was established. The results showed that there is a significant inverted U-shaped relationship between executive compensation gap and corporate environmental responsibility information disclosure. Further research found that this relationship was only significant in state-owned enterprises.
Highlights
IntroductionAs an important part of social operation, enterprises have a great impact on the environment because of their large consumption of resources
Environmental protection has always been a topic of great concern
The results show that there is an inverted Ushaped relationship between the pay gap within top managers and corporate environmental responsibility information disclosure in state-owned enterprises, and it is significant at the 1% level
Summary
As an important part of social operation, enterprises have a great impact on the environment because of their large consumption of resources. In the context of emphasizing green development, it is of great practical significance to promote enterprises to establish a transparent environmental responsibility information disclosure system. For enterprises, the disclosure of environmental responsibility information can increase their information transparency, improve their reputation, and reduce their financing costs [1] [2], which has an important impact on the value of enterprises [3]. Existing studies have shown that Chinese enterprises lack the motivation to disclose environmental information or improve environmental performance [4]. It is necessary to take measures to promote enterprises to disclose environmental information actively
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