Abstract The company's environmental management behaviors can improve the relationship between the company stakeholders, help companies to sustainably develop. But it is more seen as an obligation and cost of the company's environmental protection in developing countries. So what kind of impact the environmental protection have on the value of the company? Taking Chinese listing Corporation as a sample. This paper analyzes the impact of enterprises’ environmental management and its disclosure on corporate value. We conclude that environmental management excluding independent environment report can improve corporate value. In specific environmental management measures, producing environmental friendly products can help environmental friendly products gain recognition and improve corporate value significantly.