Firm Location, Spatial Heterogeneity of Environmental Regulation and Selective Disclosure of Environmental Information

Abstract

Abstract:

This paper analyzes the factors that influence the selective disclosure of environmental information based on double game from the center government to the local government and from the local government to the firm, and studies the influence on the selective disclosure of environmental information made by the firm location, spatial heterogeneity of environmental regulation. Results show that there is a negative link between the firm location and the selective disclosure of environmental information. In other words, the distance between the firm and the regulator is longer, and the total environmental information is disclosed less. The same result is for its significance, amount and time. Especially the negative link is obvious to the non-state-owned companies, but it is not significant to the state-owned companies. Moreover, the spatial heterogeneity of environmental regulation has the negative relation with the total environmental information, its significance and amount. But its time is the exception. Further studies show that the state-owned companies have the same results with the overall samples. However, the non-state-owned companies have no the significant relation for the spatial heterogeneity of environmental regulation. Current literatures can't reach the agreement because of ignoring the influence of the different bodies' game in process of the environmental information regulation policy being implemented. Our results show that, the geography and institutional features that determine the game results in China are the main factors that determine the content and degree of the environmental information disclosure.

Key words: firm location, spatial heterogeneity, environmental information disclosure, selective disclosure, administrative relation

Yao Sheng, Yang Jie, Liang Haotian. Firm Location, Spatial Heterogeneity of Environmental Regulation and Selective Disclosure of Environmental Information[J]. , 2016, 28(6): 192-204.

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