Environmental disclosure and its relationship with cost of equity capital : a comparative analysis between Chinese and Japanese chemical companies

Pao Yue-kong Library Electronic Theses Database

Environmental disclosure and its relationship with cost of equity capital : a comparative analysis between Chinese and Japanese chemical companies

 

Author: Ma, Ziqi Manson
Title: Environmental disclosure and its relationship with cost of equity capital : a comparative analysis between Chinese and Japanese chemical companies
Degree: M.Sc.
Year: 2012
Subject: Environmental auditing -- China.
Environmental auditing -- Japan.
Chemical industry -- Environmental aspects.
Hong Kong Polytechnic University -- Dissertations
Department: School of Accounting and Finance
Pages: 57 leaves : ill. ; 30 cm.
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b2551486
URI: http://theses.lib.polyu.edu.hk/handle/200/6846
Abstract: Nowadays, the environment in China is seriously threatened. Heavy-pollution companies’ contamination has already broken the ecological balance and violates lives of thousands of people. China is now sacrificing its environmental balance to realize economic prosper, a road Japan has experienced 40 years ago. So environment problems must be treated seriously and the environmental responsibility of enterprises must be supervised. Environmental disclosure is a useful way to regulate the environmental protection which was established in western countries years ago. However in China, environmental disclosure is at early stage and little market research on this issue is conducted. Scholars concentrate on basic theory research rather than practical market research. Up till now, little information on contemporary Chinese environmental disclosure situation can be drawn. I choose chemical industries, a heavy-pollution industry to investigate the relationship between environmental disclosure and cost of equity capital in China. At the same time, I analyzed present Chinese environmental disclosure situation in chemical industry. I documented no significant correlation between environmental disclosure and cost of equity capital in Chinese chemical companies. But I found that Chinese environmental disclosure in chemical industry is unsatisfactory, while the environmental disclosure of non-state-owned companies is worse than state-owned companies. I also analyzed Japanese listed chemical companies to make comparison with that of China. I documented significantly negative relationship between environmental disclosure and cost of equity capital in Japanese chemical companies. The average environmental disclosure level in Japan is about 4 times than that of China.

Files in this item

Files Size Format
b25514866.pdf 1.293Mb PDF
Copyright Undertaking
As a bona fide Library user, I declare that:
  1. I will abide by the rules and legal ordinances governing copyright regarding the use of the Database.
  2. I will use the Database for the purpose of my research or private study only and not for circulation or further reproduction or any other purpose.
  3. I agree to indemnify and hold the University harmless from and against any loss, damage, cost, liability or expenses arising from copyright infringement or unauthorized usage.
By downloading any item(s) listed above, you acknowledge that you have read and understood the copyright undertaking as stated above, and agree to be bound by all of its terms.

     

Quick Search

Browse

More Information