Spatial Heterogeneity of Government Regulation, Spatial Distance and Enterprise Carbon Information Disclosure: An Analysis Based on the Heavy Pollution Industry in China

Under the background of the construction of ecological civilization in China, since China has a vast amount of territory and large distances between cities, the intensity of environmental supervision in different regions may affect the enthusiasm of enterprises to disclose carbon information. Based on the listed companies of the Chinese heavy pollution industry from 2009 to 2014, using the content analysis method, the paper researches the influence of the spatial heterogeneity regarding government regulation and spatial distance on enterprise carbon information disclosure and puts forward some suggestions. The empirical results show that carbon information disclosure is significantly positively related with the spatial heterogeneity of government regulation. The spatial heterogeneity of government regulation is significantly positively associated to non-financial carbon information disclosure. The relationship between government supervision and financial carbon information disclosure is not significant. Spatial distance and carbon information disclosure are significantly positively related. There is also a significant positive correlation between spatial distance and financial carbon information disclosure. Further study finds that in public enterprises, the spatial heterogeneity of government regulation will promote carbon information disclosure, and the influence of spatial heterogeneity of government regulation on non-financial and financial carbon information disclosure both are significantly positively related. In non-public enterprises, spatial distance and carbon information disclosure are significantly positively related, and spatial distance and non-financial carbon information disclosure are significantly positively related as well.