Cross-sectional study and Influencing Factors analysis of Environmental Information Disclosure in Chinese Pharmaceutical Listed Companies

Abstract

This study aims to evaluate the quality of Chinese listed pharmaceutical companies about their environmental information disclosure (EID) and to find EID influencing factors of Chinese pharmaceutical industry. We collected 121 Chinese listed pharmaceutical companies' EID from annual reports and corporate social responsibility (CSR) reports in 2015-2017 to establish the Environmental Performance Assessment Indicator System and determine the inflencing factors. In our study, we found that Chinese pharmaceutical listed companies’ EID still lacks a unified framework and complete information. The type of listed exchanges, the size of companies, the ownership of companies and years all effect the EID quality of Chinese pharmaceutical listed companies. In order to improve the overall quality of corporate EID, we suggest that the government unify the domestic CSR guidelines immediately and introduce regulations to require companies to disclose more quantitative environmental information. 中国上市药企环境信息披露现状与影响因素分析 刘芷婷1, a, 卞鹰1,b,* 1澳门大学中华医药研究院,澳门,中国 amb75839@connect.um.edu.mo, bbianying@um.edu.mo *通讯作者 关键词: 上市药企; 环境披露; 企业年报; 中国 中文摘要. 目的:通过分析中国A股市场上市药企2015-2017年的社会责任报告书(CSR报告) 和年报,评估中国上市药企环境信息披露(EID)现状和质量,研究中国制药业EID的影响因 素。方法:收集121家中国上市药企2015-2017年年报363份和CSR报告107份,并根据GRI指南 将企业CSR报告分级;建立环境绩效评估指标系统,对121家药企打分;分析上海复星医药与 日本武田制药EID差异;采用多元线性回归确定影响因素。结果:(1)2015-2017年,公布 CSR报告的上市药企数量持续增加,平均增长速度4.32%,但近八成未遵循GRI指南。(2) 根据环境绩效评估指标系统(满分39,7模块),3年中国上市药企整体平均分为4.36、4.82、 6.29,在披露载体模块表现最好,在环境成本模块最差。(3)上海复星医药EID已处于国际 领先水平,与日本武田制药差距较小。(4)上市交易所类型、企业规模、企业性质和年份均 108 Copyright © 2019, the Authors. Published by Atlantis Press. This is an open access article under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/). Advances in Social Science, Education and Humanities Research (ASSEHR), volume 314 4th International Conference on Social Sciences and Economic Development (ICSSED 2019)