Environmental legitimacy pressure, political connection and impression management of carbon information disclosure

IF 2.8 4区环境科学与生态学 Q3 ENVIRONMENTAL SCIENCES

Carbon Management Pub Date : 2022-01-02 DOI:10.1080/17583004.2021.2022537

Xiying Luo, Ruimin Zhang, Wei Liu

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引用次数: 13

Abstract

Abstract Using sample firms from eight energy-intensive industries included in the State Council of China’s Notice on the Pilot Work of Carbon Emission Trading from 2015 to 2019, this study examines the relationship between environmental legitimacy pressure and impression management of carbon information disclosure, and explores the moderating effect of political connection on this relationship. The baseline results show that environmental legitimacy pressure is positively associated with impression management of carbon information disclosure, and political connection moderates this relationship, that is, the positive association between environmental legitimacy pressure and impression management of carbon information disclosure in politically-connected firms is stronger than that in non-politically-connected firms. The results are robust to various sensitivity tests. Further analyses show that (i) the positive association between environmental legitimacy pressure and impression management of carbon information disclosure in non-state owned enterprises (non-SOEs) is stronger than that in SOEs, (ii) firms facing higher negative environmental legitimacy pressure have stronger motivation to conduct impression management of carbon information disclosure, (iii) firms facing environmental legitimacy pressure conduct both selective disclosure and expressive manipulation but they have stronger motivation to conduct expressive manipulation. This study extends the literature on impression management of carbon information disclosure. The findings in this study provide policy implications not only for China but also for countries with large carbon emission.

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碳信息披露的环境合法性压力、政治关联与印象管理

摘要本文以2015 - 2019年国务院《关于开展碳排放权交易试点工作的通知》中8个高耗能行业的样本企业为研究对象，考察了环境合法性压力与碳信息披露印象管理之间的关系，并探讨了政治关联对这一关系的调节作用。基线结果表明，环境合法性压力与碳信息披露印象管理正相关，而政治关联调节了这一关系，即政治关联企业的环境合法性压力与碳信息披露印象管理的正相关强于非政治关联企业。结果对各种灵敏度测试具有稳健性。进一步分析表明:(1)非国有企业的环境合法性压力与碳信息披露印象管理之间的正相关关系强于国有企业;(2)面临较高的负环境合法性压力的企业进行碳信息披露印象管理的动机更强;(3)面临环境合法性压力的企业会同时进行选择性披露和表达性操纵，但其进行表达性操纵的动机更强。本研究扩展了碳信息披露印象管理的相关文献。本研究结果不仅对中国，而且对碳排放大国具有重要的政策意义。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Carbon Management ENVIRONMENTAL SCIENCES-

CiteScore

5.80

自引率

3.20%

发文量

期刊介绍： Carbon Management is a scholarly peer-reviewed forum for insights from the diverse array of disciplines that enhance our understanding of carbon dioxide and other GHG interactions – from biology, ecology, chemistry and engineering to law, policy, economics and sociology. The core aim of Carbon Management is it to examine the options and mechanisms for mitigating the causes and impacts of climate change, which includes mechanisms for reducing emissions and enhancing the removal of GHGs from the atmosphere, as well as metrics used to measure performance of options and mechanisms resulting from international treaties, domestic policies, local regulations, environmental markets, technologies, industrial efforts and consumer choices. One key aim of the journal is to catalyse intellectual debate in an inclusive and scientific manner on the practical work of policy implementation related to the long-term effort of managing our global GHG emissions and impacts. Decisions made in the near future will have profound impacts on the global climate and biosphere. Carbon Management delivers research findings in an accessible format to inform decisions in the fields of research, education, management and environmental policy.