'Deterrence' or 'reliance':impact of geographical distance on the quality of corporate environmental information disclosure
In the context of achieving the goals of reaching peak carbon emissions and carbon neutrality,mandatory corporate environ-mental information disclosure has begun to be implemented.According to the theory of geographical economics,the closer the geograph-ical distance between enterprises and ecological environmental regulatory authorities,the more likely it is to form a'deterrence'(the'distance attenuation effect'of supervision costs)or a'reliance'(the'distance attenuation effect'of rent-seeking costs)for enterpris-es.Based on the data of listed companies with major pollutants from 2015 to 2020,this study empirically tested the directions and paths of the impact of the geographical distance between enterprises and ecological environmental regulatory authorities on the quality of corporate environmental information disclosure using fixed effects model and mediating effects model.The study showed that:① The closer the geographical distance between enterprises and ecological environmental regulatory authorities,the higher the quality of corpo-rate environmental information disclosure,which supported the'distance attenuation effect'hypothesis of supervision costs.② The im-pact of geographical distance on the quality of corporate environmental information disclosure was realized through the intensity of su-pervision and monitoring at the provincial level and the intensity of law enforcement at the prefecture level.③ The strengthening of en-vironmental governance intensity,the improvement of regional digitalization level,and the increase in media attention suppressed the'distance attenuation effect'of supervision costs.It is concluded that in order to achieve a balanced development of the quality of cor-porate environmental information disclosure in the whole region,it is necessary to strengthen environmental governance intensity,im-prove regional digitalization level,and increase media attention.From the perspective of geographical economics,this paper expands the influencing factors of corporate environmental information disclosure quality,enriches the theoretical practice of the'distance atten-uation effect'in geographical economics,and provides solutions and theoretical bases for promoting the balanced development of corpo-rate environmental information disclosure quality.
environmental information disclosuregeographical distanceenvironmental governancedigitalization levelmedia atten-tion
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