Explain and provide a model for measuring environmental disclosure and evaluating its effect on company performance

Today, environmental reporting is considered as a very important phenomenon. Although the purpose of environmental reports is to address the broader concerns of stakeholders in various social and economic dimensions, participation in activities that lead to the protection of natural resources can reduce agency costs and increase corporate performance. Accordingly, in this study, due to the importance of the issue, in the first step, environmental reporting based on shareholders' expectations has been presented and in the second step, the impact of environmental reporting on the financial performance variable of companies has been tested. In this research, 118 companies in the period 1399-1392 have been studied. To test the hypotheses, Delphi test, Kendall test and panel regression model were used. Environmental reporting based on shareholder expectations has a positive and significant effect on companies' financial performance.