Environmental Information Disclosure, Market Competition, and Green Transformation: evidence from Chinese Heavily Polluting Listed Companies

The confirmation basis for heavy pollution industries is based on the "Guidelines for Environmental Information Disclosure of Listed Companies" issued by the Ministry of Environmental Protection in 2010 and the "Guidelines for Industry Classification of Listed Companies" revised by the China Securities Regulatory Commission in 2012.

All data comes from CSMAR (China Stock Market and Accounting Research Database) and CNRDS (China Research Data Service) databases. Green innovation selects data from period t+1. After excluding companies with invalid and missing data, we ultimately obtained 8028 observations.