Proceedings of the 4th International Conference on Economic Management and Big Data Applications, ICEMBDA 2023, October 27–29, 2023, Tianjin, China

Research Article

Can China's Capital Markets Eliminate the "Functional Lock-in" Effect of Corporate Environmental Information Disclosure?

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  • @INPROCEEDINGS{10.4108/eai.27-10-2023.2341950,
        author={Haiyan  Li},
        title={Can China's Capital Markets Eliminate the "Functional Lock-in" Effect of Corporate Environmental Information Disclosure?},
        proceedings={Proceedings of the 4th International Conference on Economic Management and Big Data Applications, ICEMBDA 2023, October 27--29, 2023, Tianjin, China},
        publisher={EAI},
        proceedings_a={ICEMBDA},
        year={2024},
        month={1},
        keywords={environmental information disclosure; enterprise value; quantitative disclosure},
        doi={10.4108/eai.27-10-2023.2341950}
    }
    
  • Haiyan Li
    Year: 2024
    Can China's Capital Markets Eliminate the "Functional Lock-in" Effect of Corporate Environmental Information Disclosure?
    ICEMBDA
    EAI
    DOI: 10.4108/eai.27-10-2023.2341950
Haiyan Li1,*
  • 1: Lyceum of the Philippines University Manila
*Contact email: 642419016@qq.com

Abstract

In this paper, the relationship between the level of environmental information disclosure and corporate value is empirically analyzed by taking A-share listed companies with heavy pollution in China from 2011-2019. It further divides environmental information disclosure into qualitative disclosure and quantitative disclosure to explore the impact of information disclosure on corporate value. The study shows that environmental information disclosure is beneficial to enhance enterprise value; further study finds that quantitative disclosure of environmental management inputs is negatively related to enterprise value, quantitative disclosure of environmental management inputs may have a "functional lock-in" effect, and quantitative disclosure of environmental economic benefits can alleviate the "functional lock-in" effect of quantitative disclosure of environmental management inputs to a certain extent. Quantitative disclosure of environmental economic benefits can, to a certain extent, alleviate the "functional lock-in" problem of quantitative disclosure of environmental management inputs. This has theoretical and practical implications for promoting the green development of enterprises.