기업지배구조와 기업의 자발적 환경정보공시: 집중소유구조를 중심으로

Grounded on institutional theory, much environmental management research has regarded that corporations would make the same strategic choices when facing common sets of institutional pressures. This study suggests hypotheses about corporate governance and corporate environmental participation through various literature studies related to environmental management, and suggests implications based on the results of logistic regression analysis. In this study, we consider corporation's responsiveness to environmental policy and regulation is different and they exhibit heterogeneous strategies depending on its distinct ownership structure. By focusing on firm environmental disclosure which is a way of corporations’ voluntary action against climate change issue, we find that under the concentrated ownership structure, the foreign and institutional investors play an important role in encouraging firms to actively engage in firm environmental disclosure, while controlling shareholders group has a negative impact on the disclosure.