Research on Environmental Information Disclosure of Polluting Industry Enterprises from the Perspective of Impression Management

Abstract

Environmental information disclosure is the main way for enterprises to convey their performance of environmental responsibility, and also an important tool for the government to carry out environmental protection work. Based on stakeholder theory, impression management theory and information asymmetry theory, this research regression analyzed the impact of corporate performance on environmental information disclosure for 112 listed companies in heavy polluting industries. The results show that the quality of environmental information disclosure of high-performing enterprises is higher than that of low-performing enterprises. The self-interested impression management greenwashing behavior adopted by enterprises in heavy polluting industries reduces the quality of environmental information disclosure. This study breaks through the previous single research from the perspective of financial information manipulation, analyzes the impression management behavior of enterprises on text information reflecting circular thinking, and enriches literature on environmental information disclosure.