关键词: 内部控制质量, ESG信息披露, 代理成本, 数字化转型

Abstract: In the context where green development has become a global consensus,being low-carbon and environment friendly is increasingly welcomed by the capital market. Research on influence of internal control on ESG information disclosure is scarce,especially that from the perspective of relationship between system design and non-financial indicators of enterprises. Taking as study object companies going public on China's stock markets between 2009 and 2021,this article tests empirically the influence of internal control on ESG information disclosure. The results show that internal control encourages enterprise to disclose high-quality ESG information. Viewed from the conductive process,internal control checks occurrence of agency cost,upgrades digital transformation and further improves quality of ESG information disclosure. A closer analysis shows that in state-owned enterprises and those with better political governance,higher level of legal compliance and greater market readiness,the promotion effect is more obvious. Based on the above conclusions,the authors contend that,in addition to paying continuous attention to system construction of enterprise internal control,promoting both vertical and horizontal development,perfecting enterprise internal control system,and controlling agency cost,it is desirable to apply the latest technology to improve management and avoid short-sighted managerial operations so as to guide enterprises to disclose high-quality ESG information with more effective system design.

Key words: quality of internal control, ESG information disclosure, agency cost, digital transformation