本研究旨在探討台灣上市企業環境資訊揭露程度與不同利害關係人群體間之關聯性，研究以2003年至2005年間上市公司為樣本。實證結果顯示，當年度之罰款與賠償、公司規模、負債程度、顧客關聯性則皆與公司之環境資訊揭露程度呈顯著正相關，顯示公司環保揭露策略受到政府、債權人、及顧客等外部利害關係群體所影響，意味著企業不只是對股東負責，做決策時也須滿足外在各利害關係群體，符合利害關係人理論之論點。其次環境支出預算數、員工人數與環境資訊揭露程度為顯著正相關，大股東持股比和環境資訊揭露程度呈負顯著相關。顯示管理者重視企業環境績效，也樂於將此訊息透露給大眾所知，而公司員工人數越多，員工也傾向關心自身企業環境揭露程度，且當股權越分散，股東人數越多也越關注企業環境資訊之揭露。從中介利害關係人角度觀之，ISO14001認證、高環境敏感度產業與受大型會計事務所查核之公司，皆與環境資訊揭露程度為顯著正相關，意味著ISO認證組織、環保團體及會計事務所與公司無直接利害關係，因此中介利害團體能以大眾利益為出發點，發揮監督力量，對企業環境資訊揭露策略也具有影響力。 This paper aims to investigate the relationship of environmental information disclosure and among stakeholders. 759 samples have been chosen from publicly listed companies. The empirical results reveal the variables of external stakeholders, including annual fines, the scale of a company, debts, and advertisement fees have significantly positive correlation with environmental information disclosure. It suggests that environmental information disclosure has been affected by external stakeholders - government, debtee, and customer. Companies are not only responsible for their stockholders but also responsible for the external stakeholders. The companies with more environmental expenditure budgets and the number of employees have better environmental disclosure, while those companies with more centralized of stocks has the less disclosure of environmental information. Moreover regarding the intermediate stakeholders, companies with higher environmental pollution industries having ISO14001 or auditing under large accounting professional firms show better environmental disclosure. It means that although intermediate stakeholders such as ISO organizations, environmental protection groups, and accounting professional firms have no direct influence on the companies. They will bear the interest of the public in mind to supervise these companies, having to improve their environmental information disclosure.
