科研之友
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摘要
The environmental information disclosure of tourism-listed enterprises is a channel for stakeholders to understand corporate information. It serves as the driving force for improving corporate ecological innovation capabilities and a guarantee for strengthening the development capabilities of tourism enterprises. Based on the 38 tourism-listed enterprises in China, this paper uses a two-way fixed effect model to empirically examine the effects of environmental information disclosure levels on enterprises' development capabilities. The results show that environmental information disclosure has a significant negative correlation to enterprise development capabilities. This effect between them has a time lag and will decrease yearly. The degree of the effect differs because of firm size, region, and nature of equity. The government should formulate scientific and proper environmental information disclosure systems according to the characteristics of different industries and encourage non-environmentally sensitive firms to disclose environmental information to reduce the negative effects. Tourism enterprises should develop green supply chains, strengthen their ecological innovation capabilities, and reduce the increased costs due to environmental protection inputs.
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