Sectoral Heterogeneity in Corporate Biodiversity Disclosure: Evidence from Chinese Listed Companies Across Industries, 2001–2023
研究了中国上市公司2001-2023年生物多样性披露的行业差异，发现农业、采矿等环境敏感行业披露水平更高，而IT和金融行业披露增长迅速，为新兴市场制定行业特定披露框架提供参考。
ABSTRACT This study examines sectoral heterogeneity in corporate biodiversity disclosure (CBD) among Chinese listed firms over the period 2001–2023. Drawing on stakeholder, institutional, and resource dependency theories, it investigates how environmental exposure, ownership structures, and market dynamics influence biodiversity risk recognition and disclosure intensity across 19 industries. Based on a longitudinal dataset comprising 57,367 firm‐year observations, the findings reveal substantial variation in CBD practices. Environmentally sensitive sectors such as agriculture, mining, and construction demonstrate higher disclosure levels, while service‐oriented industries often engage in symbolic reporting. Temporal analysis highlights accelerated CBD growth in IT and finance sectors, challenging conventional assumptions about ecological proximity. The study offers policy insights for tailoring biodiversity reporting frameworks to sector‐specific characteristics in emerging markets.