The Market Factors of Influence Environmental Information Disclosure and Market Reactions

In order to investigate the market factors of influence environmental information disclosure and market reactions. This paper use Chinese all A-share listed companies of main board market in 2012 as samples, this paper research conclusion indicate that: (1) The higher the market value, the higher tradable shares, and the higher the institutional investor shareholding of listed companies will be more and better disclosure of environmental information. indicate that under the condition of the voluntary disclosure of environmental information, market factors are the main reasons for environmental information disclosure. (2) The listed companies environmental information disclosure behavior index and disclosure quality index are all significantly positive with the company's next seasonal added value. In short, Capital market response strongly to the environmental information disclosure.