随着我国经济逐渐步入中等发达水平,我国的环境污染问题也日益凸显。为了应对污染治理问题、推进生态文明建设,国家环保部制定并实施了一系列的环境保护法律法规。然而,严格的监管环境容易导致企业尤其是上市公司环境违法风险的增加,从而损害公司股东的利益、降低企业价值。另一方面,通过代理理论可知,投资者与管理者的目标利益并不是完全一致的,这种现象同样出现在环境保护问题上,企业高管往往更倾向于通过环境污染降低生产成本,从而提高利润,增加自身薪酬。企业股东出于自身利益的考虑,逐渐关注并引入环境审计以确保企业环境合法性。本文以永安药业环境违法事件为出发点,通过把环境审计与企业高管变更相结合,研究两者的相互关系,为企业股东应对环境法律监管,提升自身合法性,维护股东利益提供新思路。 As China’s economy has gradually stepped into the medium developed level, the problem of environmental pollution in our country has also become increasingly prominent. In order to deal with pollution control and promote the construction of ecological civilization, the Ministry of Environmental Protection has formulated and implemented a series of environmental protection laws and regulations. However, a strict regulatory environment can easily lead to an increase in the environmental risk of the enterprises, especially the listed companies, thereby damaging the interests of the shareholders and lowering the corporate value. On the other hand, through the agency theory, we can see that the target interest of investors and managers is not exactly the same. This phenomenon also appears on the issue of environmental protection, and corporate executives tend to be more inclined to reduce production costs through environmental pollution and thus improve Profit, increase their own pay. For the sake of their own interests, corporate shareholders pay close attention to and introduce environmental audits to ensure the legitimacy of the corporate environment. This article starts from the illegal event of the pharmaceutical industry in Yongan. Through the combination of environmental auditing and business executives’ changes, the paper studies the mutual relationship between the two and provides new ideas for enterprise shareholders to deal with the environmental law supervision, enhance their own legitimacy and safeguard the interests of the shareholders.