压力如何转化为动力?中央环保督察对企业环境信息披露的影响机制研究

How Does Pressure Turn into Motivation?A Study on the Influence Mechanism of Central Environmental Protection Inspections on Corporate Environmental Information Disclosure

文章通过案例研究清晰地展现了中央环保督察对企业环境信息披露的影响机制及效果:中央环保督察首先通过政治压力传导促使地方政府给案例企业带来了直接的、力度空前的监管压力;又通过发动群众力量给案例企业带来了直接的监督压力和间接的监管压力;再通过引导媒体注意力给案例企业带来了直接的舆论压力和间接的监管压力、经济压力;最后中央环保督察的启动也会直接引起资本市场的股价波动,给案例企业带来经济压力。这一套多方联动、有效协同的压力体系最终促使案例企业环境信息披露的数量显著增加且质量显著提升。这一研究结果不仅有助于我们更好地理解中央环保督察的运行机制,拓展治理体系的理论研究,还有助于掌握运行机制中不同角色的作用及有效性边界。

This paper presents a case study that demonstrates the impact mechanism and effect of central environmental supervision on enterprise environmental information disclosure.Firstly,the central environmental supervision encourages local governments to apply unprecedented regulatory pressure to the case enterprise through political pressure transmission.Secondly,by mobilizing mass forces,direct and indirect supervision pressure is brought to the case enterprise.Thirdly,through guiding media attention,direct public opinion pressure,indirect supervision pressure,and economic pressure are brought to the case enterprise.Finally,the launch of central environmental protection inspection directly causes stock price fluctuations in the capital market,putting economic pressure on the case enterprise.This multiparty pressure system promotes the case enterprise to improve its environmental information disclosure significantly.The research findings not only enhance our understanding of the operational mechanisms of central environmental supervision but also expand theoretical research on governance systems and help in understanding the role and effectiveness boundaries of different roles in the operational mechanism.