Strategic Differences and Corporate Environmental Disclosure Quality: Empirical Evidence from Heavily Polluting Industries in China

In this study, we empirically examine the relationship between strategic differences and the quality of corporate environmental information disclosure (QEID) using a sample of heavily polluting enterprises listed on China's A-share market from 2013 to 2020. The empirical findings reveal that the relationship between strategic differences and the quality of corporate environmental information disclosure is "inverted U-shaped," meaning that moderate strategic differences can enhance the quality of corporate environmental information disclosure but excessive strategic differences may reduce it. The heterogeneity test indicates that this relationship is more pronounced in non-state-owned enterprises and enterprises with lower internal control capabilities. Furthermore, we find that environmental regulations and managerial ability amplify the "inverted U-shaped" relationship between strategic differences and the quality of corporate environmental information disclosure. These findings provide valuable insights for firms to formulate strategic decisions and improve their environmental disclosure systems.