ORIGINAL RESEARCH
Performance Pressure of Listed Companies and Environmental Information Disclosure: An Empirical Research on Chinese Enterprise Groups
Peng Xu 1, 2  
,   Delin Meng 1  
,   Guiyu Bai 3  
,   Lin Song 4  
 
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1
School of Business Administration, Shandong University of Finance and Economics, No. 7366 East Erhuan Road, 250014, Jinan, China
2
Center for Corporate Governance, Shandong University of Finance and Economics, No. 7366 East Erhuan Road, 250014, Jinan, China
3
Business School, University of Jinan, No. 13 Shungeng Road, 250002, Jinan, China
4
Department of Public Administration, Party School of Shandong Provincial Committee of C.P.C (Shandong Academy of Governance), No. 3888 Lvyou Road, 250103, Jinan, China
CORRESPONDING AUTHOR
Guiyu Bai   

Business School, University of Jinan, Shungeng, 250002, Jinan, China
Submission date: 2020-11-01
Final revision date: 2021-02-05
Acceptance date: 2021-03-17
Online publication date: 2021-09-08
Publication date: 2021-09-22
 
Pol. J. Environ. Stud. 2021;30(5):4789–4800
 
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ABSTRACT
As a non-productive activity, environmental information disclosure is not only a prerequisite for environmental governance and sustainable development of listed companies, but also an effective means for executives to relieve pressure on business performance. Taking Shanghai and Shenzhen A-share listed companies as research samples, the authors have carried out an empirical study to test the relationship between subsidiary performance pressure and environmental information disclosure in enterprise groups, and examines the moderating effect of the parent company’s shareholding on the main effect, as well as the differentiation of the moderating effect between high and low degree of executives’ synergy allocation level in parent-subsidiary corporations. The results show that: firstly, the performance pressure of listed companies has a positive impact on environmental information disclosure; secondly, the parent company’s shareholding will weaken the positive impact of listed company’s performance pressure on environmental information disclosure. The higher the parent company’s shareholding ratio, the weaker the positive impact of subsidiary company’s performance pressure on environmental information disclosure. Thirdly, when the degree of executives’ synergy allocation level in parent-subsidiary corporations is low, the negative moderating effect of parent’s shareholding ratio is stronger.
eISSN:2083-5906
ISSN:1230-1485