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The Relationship between Environmental Information Disclosure and Profitability: A Comparison between Different Disclosure Styles

College of Economics and Management, Shandong University of Science and Technology, Qingdao 266590, China
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Int. J. Environ. Res. Public Health 2019, 16(9), 1556; https://doi.org/10.3390/ijerph16091556
Received: 7 April 2019 / Revised: 28 April 2019 / Accepted: 2 May 2019 / Published: 3 May 2019
(This article belongs to the Section Environmental Science and Engineering)
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Abstract

Combined with the existing research gap, this paper divides firms’ environmental information disclosure styles into two types: Substantive style and symbolic style. This paper elaborates on the relationship between environmental information disclosure and firms’ profitability of these two disclosure types and tests this relationship using the data from 676 firms employed from the heave-polluting industry. Considering the endogenous and heteroscedasticity problems, 2-stage least squares method and weighted least square method were adopted. The results showed that (1) positive relationships exist between environmental information disclosure and profitability for both types; and (2) the contribution of symbolic-style disclosure to profitability is larger than that of substantive-style disclosure. These findings are important for corporate managers and highlight some policy implications in developing countries. View Full-Text
Keywords: environmental information disclosure; profitability; environmental performance; substantive style; symbolic style environmental information disclosure; profitability; environmental performance; substantive style; symbolic style
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Yin, H.; Li, M.; Ma, Y.; Zhang, Q. The Relationship between Environmental Information Disclosure and Profitability: A Comparison between Different Disclosure Styles. Int. J. Environ. Res. Public Health 2019, 16, 1556.

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