The impact of ownership structure on environmental information disclosure: evidence from China

Wei, M ORCID: https://orcid.org/0000-0002-5876-0139, Wang, Y ORCID: https://orcid.org/0000-0001-5438-4255 and Giamporcaro, S ORCID: https://orcid.org/0000-0002-1150-4939, 2024. The impact of ownership structure on environmental information disclosure: evidence from China. Journal of Environmental Management, 352: 120100. ISSN 0301-4797

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Abstract

Environmental information disclosure (EID) plays a crucial role in promoting sustainable practices and enhancing environmental accountability. The ownership structure of firms, which varies across different institutional settings, can significantly influence the extent to which they are willing and able to disclose environmental information. Drawing on voluntary disclosure theory and legitimacy theory, this study examines whether ownership structure (e.g. ownership concentration, institutional ownership, managerial ownership, and state ownership) influences the environmental information disclosure of Chinese firms. Using a panel data set of firms listed on the Shanghai Shenzhen 300 Index from 2009 to 2019, the results show that there has been an increase in environmental information disclosure in China in recent years. Furthermore, we find that managerial ownership is positively associated with environmental disclosure, whilst institutional ownership and state ownership are negatively associated with environmental disclosure. Additional analyses show that the relationship between ownership structure and EID and ownership structure is stronger in low-regulated industries, and the effects of managerial and state ownership on EID vary by firm size. The enforcement of the 2014 Environmental Protection Law of the People's Republic of China has also played a pivotal role in enhancing the nexus between ownership structure and EID and ownership structure.

Item Type:	Journal article
Publication Title:	Journal of Environmental Management
Creators:	Wei, M., Wang, Y. and Giamporcaro, S.
Publisher:	Elsevier
Date:	2024
Volume:	352
ISSN:	0301-4797
Identifiers:	Number Type 10.1016/j.jenvman.2024.120100 DOI S0301479724000860 Publisher Item Identifier 1854703 Other
Rights:	© 2024 the authors. Published by Elsevier Ltd. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).
Divisions:	Schools > Nottingham Business School
Record created by:	Jonathan Gallacher
Date Added:	25 Jan 2024 10:43
Last Modified:	25 Jan 2024 10:43
URI:	https://irep.ntu.ac.uk/id/eprint/50741

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