THE IMPACT OF INSTITUTIONAL INVESTOR HETEROGENEITY ON ENVIRONMENTAL INFORMATION DISCLOSURE

This paper analyzes the impact of institutional investor heterogeneity on the level of corporate environmental information disclosure. The results show that institutional investors can play a role in governance and improve the level of corporate environmental information disclosure. It's found that stable institutional investors, compared with institutional investors, will help to improve the level of corporate environmental information disclosure; that pressure-resisting institutional investors can improve the level of environmental information disclosure, while pressure-sensitive institutional investors have little effect on it. This study is of great theoretical and practical significance to expand the governance role of institutional investors and to promote the environmental protection of the listed companies.