Role of investor attention and executive green awareness on environmental information disclosure of Chinese high-tech listed companies

Against the backdrop of growing public concern about environmental disclosure, and despite this concern, the level of environmental disclosure by high-tech firms remains low, necessitating a heightened emphasis on corporate environmental disclosure. This study delves into the impact of investor attention on the environmental information disclosure of Chinese high-tech firms, analyzing data from 463 firms between 2011 and 2022. Utilizing dynamic panel GMM, our findings highlight a significant negative correlation between investor attention and environmental information disclosure. We also introduced executive green awareness, exploring their moderating role. The results show that improved executive green awareness mitigates the adverse impact of investor attention on environmental information disclosure. However, heterogeneity analysis revealed that this moderating effect does not exist in IT service and non-polluting high-tech enterprises. This research offers policy implications for enhancing transparency and environmental governance through targeted investor engagement and executive training programs. The findings underscore the importance of a comprehensive regulatory framework tailored to sector-specific challenges in high-tech industry.