西安石油大学学报（社会科学版）2025，Vol.34Issue(3)：94-103,10.
中小投资者环境关注能否改善重污染企业环境信息披露质量?
Can the Environmental Concern of Small and Medium-Sized Investors Improve the Quality of Environmental Information Disclosure of Heavy Pollution Enterprises?
摘要
Abstract
The quality of environmental information disclosure in heavily polluting industries has an im-portant impact on China's environmental governance cause and sustainable economic development.Taking A-share listed companies in heavily polluting industries from 2013 to 2023 as samples,this paper empirically ex-amined whether the environmental concerns of small and medium-sized investors can improve the quality of environmental information disclosure of heavily polluting enterprises.The research finds that the environmental concerns of small and medium-sized investors can effectively prompt heavily polluting enterprises to improve the quality of their environmental information disclosure.Analysis of the intermediary mechanism indicates that the environmental attention of small and medium-sized investors can prompt enterprises to improve the quality of environmental information disclosure by enhancing the environmental attention of senior executives and media attention.The heterogeneity analysis shows that the improvement effect is more significant in large-scale,non-state-owned enterprises in heavy pollution industries and enterprises with low level of financing constraints.Suggestions are put forward,such as strengthening the role of small and medium investors in the field of environmental governance,and policy guidance by relevant government agencies.关键词
环境信息披露/中小投资者环境关注/高管环境注意力/媒体关注度Key words
environmental information disclosure/environmental attentionof small and medium-sized in-vestors/executive environmental attention/media attention分类
管理科学引用本文复制引用
郭蟠筝,黄聿舟,郝懿贤,李娜..中小投资者环境关注能否改善重污染企业环境信息披露质量?[J].西安石油大学学报（社会科学版）,2025,34(3):94-103,10.基金项目
陕西省教育厅专项科研计划项目"基于供应商绿色整合的陕西制造企业绿色创新质量提升机制研究"(23JK0182). （23JK0182）
