The impact of environmental information disclosure quality on corporate value: The mediating role of innovation investment

This study examines how environmental information disclosure (EID) affects corporate value (CV) using data from pollution-intensive enterprises(2015-2023). The results reveal a positive, Ushaped relationship between EID and CV, with innovation investment playing a significant mediating role. Additionally, quantile regression analysis indicates that the effect of EID on CV varies across different corporate levels, being particularly significant for high-value enterprises. Further analysis shows that the impact of EID on CV is more pronounced in regions with weaker market development and nonstate-owned enterprises. These findings provide valuable theoretical and practical guidance for enterprises in environmental management and information disclosure decision-making.