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Risk is mainly manifested in the enterprise’s own risk. Zkou et al. 15 study selected 334 listed companies in China’s high-water risk industry. The results show that water information disclosure is not significantly correlated with enterprise systemic risk, but helps enterprises to attenuate systemic risk. Most of the listed companies’ business development is financed by external financing. The "green credit" policy launched by the regulatory authorities combines environmental and financial risks, raising higher standards for corporate environmental governance. It can be seen that corporate water information disclosure is more focused on water resources in terms of saving operating costs and improving short-term earnings. From the perspective of external factors, generally manifested as direct pressure (government) and indirect pressure (media or market), driven by the results of pressure, corporate disclosure of water information is not only a requirement for stakeholders and companies to fulfill their social and environmental obligations, but also a requirement to achieve sustainable and high-quality national and corporate development. Deng Mingjun et al. 16 analyzed the motivation mechanism of corporate water information disclosure, explained the mechanism of corporate water information disclosure regulation and realization mechanism, and called on relevant authori- ties to set quantifiable and enforceable evaluation criteria for critical regulations such as "significant corporate water-related impact" and "significant corporate water-related litigation". We call on relevant authorities to set quantifiable and clearly enforceable evaluation criteria for critical provisions such as "company water-related material impact" and "company water-related material litigation, Walid and Mohamed 17 . Taking a sample of 1166 non-financial companies in the CDP report, the empirical test of how national policies and legal systems can help strengthen the level of water information disclosure of enterprises, and Shen Juqin et al. 18 constructed a water information phi level indicator system in line with China’s national conditions, and verified the sensitiv- ity of social monitoring to water information disclosure through model testing, indicating that under external environmental governance, the public and the government attach great importance to the environment and the use of information.information utilization status, and increased the willingness of enterprises to actively disclose. Xu Jianling et al. 19 and Zeng et al. 20 , using a sample of listed companies in highly water-sensitive industries, confirmed that the effect of water information disclosure on corporate risk containment was strengthened by means of media exposure through the news. Media coverage generates reputational pressure to a certain extent, forcing firms to fulfill their environmental responsibilities. Thus, external monitoring plays a leading role in environmental governance, with the public monitoring pollutant emissions and the government compensating for market "failures" and providing subsidies and incentives in tax and credit policies, so that water conserva- tion is elevated to the strategic level of corporate water management actions to achieve high-quality economic development and sustainable and harmonious social and environmental development. The choice of different evaluation methods will have an impact on the accuracy of the evaluation. Scholars at home and abroad have studied the content of water disclosure through empirical research, and the relevant research results provide more options for improving the level of corporate water disclosure. And there is no unified standard for evaluating and measuring water information disclosure quality, and many scholars have explored various ways to measure the quality of corporate water information disclosure. Liu CY et al. 21 and Yu HC 9 took the data of Chinese listed companies as a sample, and after mathematical and statistical analysis of the disclosed water information, based on the relevant information disclosed in the annual reports of enterprises, to The "quantitative + qualitative" approach was used to analyze the factors affecting water information disclosure by listed companies based on the coding of water disclosure items by the Global Reporting Initiative (GRI). Liang et al. 22 uses the NCA and fsQCA approach to study the joint roles of environmental regulations and other internal and external factors on the quality of environmental information disclosure. Liu Xuewen 23 used a combination of fuzzy comprehensive evaluation and hierarchical analysis methods to construct a water environmental informa- tion disclosure index system for heavily polluting listed companies, which provided a reference for the evaluation method of enterprise water information disclosure quality, Kleinman 24 uses Formal Concept Analysis (FCA) to study water disclosure and water stewardship in the U.S. food and beverage industry.Plumle et al. 25 and Clarkson et al. 26 evaluated by "content analysis method" and constructed environmental information disclosure indexes for analysis and evaluation, and the study of environmental information disclosure and quality evaluation. As we can see, domestic and foreign scholars are still exploring the methods of information disclosure quality evaluation. After the promulgation of the revised Environmental Protection Law in China, what are the main contents of water information disclosed by enterprises to the relevant departments, and what is the impact of the environmental laws and regulations, and policies introduced by the government on enterprises’ disclosure of information about water resources? What is the quality of water information disclosure for high water-consuming manufacturing industries? Do manufacturing enterprises record information on water consumption, withdrawal, and consumption generated in the supply chain? The existing literature fails to explain well enough to answer the more profound questions behind corporate water information disclosure. Given the above theoretical and practical limitations, and to implement the ecological civilization construc- tion of intensive and sustainable use of water resources, this paper studies the paper and paper products industry, a typical high water-consuming enterprise in the manufacturing industry, digs deeper and analyzes the disclosure of water information of listed enterprises, and adopts the mainstream method of content analysis to quantify the water information of enterprises. The content of the disclosure, combined with the projection tracing model of accelerated genetic algorithm, to establish a scientific and practical quality evaluation system in line with the paper and paper products enterprises, through the evaluation of the value of high and low ranking, analysis of the quality of enterprise water information disclosure, so as to force enterprises to accelerate the development of green transformation and innovation, to provide experience and methodological guidance to achieve sustainable and high-quality development of the paper industry.
Scientific Reports |
https://doi.org/10.1038/s41598-023-39307-y
3 Vol.:(0123456789)
(2023) 13:12225 |
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