Environmental responsibility information disclosure, cooperative resources, and enterprise market competitiveness.

Environmental responsibility information disclosure is an important means for high-polluting enterprises to win the recognition and support of external stakeholders. This study constructs a fixed-effects model based on panel data of 951 Chinese high-polluting enterprises in Shanghai and Shenzhen A-shares from 2015 to 2019 to verify the effect of environmental responsibility information disclosure on enterprise market competitiveness and the mediating effect of cooperative resources. The sample enterprises are further divided into state-owned and non-state-owned enterprises, and the results show that environmental responsibility information disclosure is more effective for non-state-owned enterprises to obtain cooperative resources and thus enhance market competitiveness. This study highlights the effectiveness of environmental responsibility information disclosure in strengthening the enterprise market competitiveness from the perspective of stakeholders in the supply chain, which has certain inspirations and empirical implications for enterprises to strengthen their environmental responsibility information disclosure system.