The Impact of Mandatory Environmental Information Disclosure and the Green Innovation of Pollution-Intensive Companies? Evidence From China
Abstract Based on the Guidelines of the Shanghai Stock Exchange on Environmental Information Disclosure for Listed Companies issued in 2008, this paper constructs a quasi-natural experiment and uses the did method to study the impact of mandatory environmental information disclosure on the green innovation of pollution-intensive companies in China. The results show that mandatory environmental information disclosure can significantly promote the green innovation of pollution-intensive companies by strengthening the company's motivation and pressure to comply with the regulation; in addition, the positive effect is more obvious in state-owned companies, small companies and companies with poor information condition in pollution-intensive industries. This paper enriches the literature of mandatory environmental information disclosure and offers guidance for policymakers seeking to improve environmental information disclosure policies in emerging countries.