关键词: 碳信息, 碳信息披露, 新闻报道, 政府监管

Abstract: In order to study the legitimacy motivation of enterprise carbon information disclosure, this paper selects 128 listed enterprises in heavy-pollution industries in Shanghai and Shenzhen Security Exchange Markets of China from 2009 to 2014 as the research samples, and uses the method of content analysis to empirically examine the relationship between news, administrative supervision and carbon information disclosure. Our empirical results show that the overall level of carbon information disclosure of the listed enterprises of heavy-pollution industries in China is lower; the news is positively related with enterprise carbon information disclosure at the significance of 5% level; the administrative supervision is positively related with enterprise carbon information disclosure at the confidence of 10% level; the news weakens the positive relationship between the administrative supervision and enterprise carbon information disclosure, and the administrative supervision weakens the positive relationship between the news and enterprise carbon information disclosure; news and administrative supervision have significant impacts on enterprise carbon information disclosure in heavy-pollution industries in China and exhibit a periodic trend. This paper provides a new perspective from news and administrative supervision to study the legitimacy motivation of carbon information disclosure and enriches the empirical research literatures of carbon information disclosure.

Key words: carbon information, carbon information disclosure, news, administrative supervision, legitimacy motivation