科学与管理2025，Vol.45Issue(1)：66-74,9.DOI:10.3969/j.issn.1003-8256.2025.01.009
"合规"还是"合群":中小股东积极主义与碳信息披露
"Compliance"or"Conformity":Retail Shareholder Activism and Carbon Disclosure
摘要
Abstract
In the context of low-carbon economy,stakeholder are increasingly concerned about the carbon information.This paper discusses and empirically examines the influence of retail shareholder activism on carbon disclosure by taking Chinese companies in the chemical industry from 2016 to 2021 as research samples.The results show that:(1)Retail shareholder activism helps to improve the quality of carbon disclosure.(2)From the perspectives of"compliance"and"conformity",retail shareholder in enterprises with greater pressure on normative legitimacy has a more significant role in promoting carbon disclosure,which verifies the explanation path from the perspective of"conformity".(3)In terms of mechanism,retail shareholder activism raises the quality of carbon disclosure through"grabbing media attention mechanism",which only exists in large-scale companies.Both positive and negative reports have mediating effect(neutral reports do not)after distinguish media sentiment.(4)In terms of effect,retail shareholder activism has a more significant improve effect on carbon disclosure in companies with low agency costs and non-state-owned companies.关键词
中小股东/股东积极主义/碳信息披露/媒体报道/合法性Key words
retail shareholders/shareholder activism/carbon disclosure/media coverage/legitimacy分类
管理科学引用本文复制引用
吴超,马新蕊.."合规"还是"合群":中小股东积极主义与碳信息披露[J].科学与管理,2025,45(1):66-74,9.基金项目
国家自然科学基金青年项目(72002064) （72002064）
