Exploring the Market Effects of Accounting Information Disclosure within the Digital Health Context and Analyzing its Impact Mechanisms

Abstract

To investigate the connection between business value, market impact, and environmental accounting information disclosure quality. Using data from 2017 to 2020 as the foundation, this article builds an environmental accounting information disclosure system utilizing 278 A-share listed businesses in the heavy pollution industry as model companies. The analysis combines stakeholder theory, information asymmetry theory and the supply and demand structure of environmental accounting information, and three hypotheses are proposed. The quality of corporate environmental accounting disclosure is highly adversely connected with the market effect (HHI) at the 5% level, according to regression analysis results, with results with a correlation coefficient of 0.278, corporate environmental accounting information disclosure quality is strongly favorably linked with company value at the 1% level. It suggests that this study increases corporate environmental accounting information disclosure, which may encourage businesses to improve environmental protection while safeguarding the practical interests of businesses, investors, and the general public.