matters. However, they did not give any importance regarding waste generation, conservation of energy, water wastage and recycling of waste etc. This study visualized that Petrobangla has already given much “the effort in the field of environmental protection. However, the current accounting system does not reflect such efforts for its stakeholders.”7 conducted a study on a sample of large Brammer and Pavelin(2006) companies to assess the patterns in voluntary environmental disclosures. The analysis differentiated between the decision regarding voluntary environmental disclosure and decisions relating to the quality of such disclosures. They also examined that how the above decisions were influenced by firm and industry characteristics. They observed that larger, less indebted companies with dispersed ownership characteristics would likely to give significantly more importance on voluntary environmental disclosures. The other important finding was that the quality of disclosures was positively associated with firm’s size and corporate environmental impact. They found significant cross-sector variation in the determinants of both the participation and quality decisions. Lacina and Rutledge (2006) have examined factors that are associated with the level of a firm's environmental disclosure in the footnotes of its annual report and its 10-K report filed with the Securities and Exchange Commission. The findings have pointed out that firm with higher foreign concentration are associated with less environmental disclosure because they are under higher vigilance from other countries and the international community. Moreover, to some extent, higher earnings volatility is also associated with less environmental disclosure. The firms with a more volatile earnings process are less willing to disclose potential
matters. However, they did not give any importance regarding waste generation, conservation of energy, water wastage and recycling of waste etc. This study visualized that “the Petrobangla has already given much effort in the field of environmental protection. However, the current accounting system does not reflect such efforts for its stakeholders.”7 Brammer and Pavelin(2006) conducted a study on a sample of large companies to assess the patterns in voluntary environmental disclosures. The analysis differentiated between the decision regarding voluntary environmental disclosure and decisions relating to the quality of such disclosures. They also examined that how the above decisions were influenced by firm and industry characteristics. They observed that larger, less indebted companies with dispersed ownership characteristics would likely to give significantly more importance on voluntary environmental disclosures. The other important finding was that the quality of disclosures was positively associated with firm’s size and corporate environmental impact. They found significant cross-sector variation in the determinants of both the participation and quality decisions. Lacina and Rutledge (2006) have examined factors that are associated with the level of a firm's environmental disclosure in the footnotes of its annual report and its 10-K report filed with the Securities and Exchange Commission. The findings have pointed out that firm with higher foreign concentration are associated with less environmental disclosure because they are under higher vigilance from other countries and the international community. Moreover, to some extent, higher earnings volatility is also associated with less environmental disclosure. The firms with a more volatile earnings process are less willing to disclose potential