Research on the Governance Pathways for Enterprises' Shift from Real to Virtual from the Perspective of Environmental Information Disclosure

Wang Qinyi

Anhui University of Finance & Economics

Abstract：

This study focuses on the realistic context of the deep intersection between the consolidation of China's real economy and its green transformation. Addressing the structural shortcoming of the traditional governance system for enterprises' shift from real to virtual, which concentrates solely on the financial dimension and struggles to identify implicit resource misallocation behavior conducted by enterprises under the guise of green concepts, this study approaches the issue from the unique perspective of environmental information disclosure. It systematically elucidates the intrinsic necessity of governing enterprises' shift from real to virtual through environmental information disclosure, and thoroughly examines the practical dilemmas currently encountered, including blurred regulatory boundaries, distorted signal transmission, and the absence of coordination mechanisms. On this basis, it proposes adaptive practical optimization pathways from three dimensions: reconstruction of disclosure standards, optimization of signaling mechanisms, and cross-departmental coordination. The study demonstrates that environmental information disclosure can, by expanding the public dimension of information on real economic operations, construct a new governance framework for the shift from real to virtual that covers non-financial scenarios, thereby providing theoretical references for anchoring green factors to the real economy and improving a multi-dimensional long-term governance system.

Key Words：

environmental information disclosure; shift from real to virtual; governance pathways