Based on the Chinese listed A share firms from 2008 to 2013，we take market information views to study the effects of micro environment uncertainty on the disclosure strategies and the effects of interaction of both of them on stock price crash risk. Results show that there is a positive correlation between environmental uncertainty and stock price crash risk，financial reporting transparency has a moderate effect on the relationship between environmental uncertainty and stock price crash risk，it means that with higher extent of financial reporting transparency，the affect of environmental uncertainty on stock price crash risk is less prominent. We further find that financial reporting transparency is up after a decline with the increasing of the level of environmental uncertainty.