Research Article
The Influence of Environmental Information Disclosure on Stock Liquidity
@INPROCEEDINGS{10.4108/eai.23-2-2024.2345888, author={Honghui Dong}, title={The Influence of Environmental Information Disclosure on Stock Liquidity}, proceedings={Proceedings of the 4th International Conference on Informatization Economic Development and Management, IEDM 2024, February 23--25, 2024, Kuala Lumpur, Malaysia}, publisher={EAI}, proceedings_a={IEDM}, year={2024}, month={5}, keywords={environmental information disclosure stock liquidity information asymmetry}, doi={10.4108/eai.23-2-2024.2345888} }- Honghui Dong
Year: 2024
The Influence of Environmental Information Disclosure on Stock Liquidity
IEDM
EAI
DOI: 10.4108/eai.23-2-2024.2345888
Abstract
With the promotion of ecological civilization in China, environmental information disclosure is increasingly concerned by investors and has a certain impact on the capital market. I mainly study the impact of the quality of environmental information disclosure on stock liquidity in Chinese capital market. This paper analyzes the current situation of environmental information disclosure in China by taking the unfinancial and nonspecial-treatment listed companies in all A-share markets from 2018 to 2022 as samples. Through the empirical analysis, it is concluded that environmental information disclosure has a significant positive impact on stock liquidity. It also discovers that the quality of environmental information disclosure of Chinese firms is improving. This paper is not limited to pollution enterprises, which not only enriches the economic consequences of environmental information disclosure, but also discusses the stock liquidity from two dimensions of depth and width, broadening the influence factors of stock liquidity.
