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How does energy policy uncertainty perception affect corporate greenwashing behaviors? Evidence from China's energy companies

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  • Jin, Yousen
  • Li, He
  • Lu, Juan

Abstract

This study tests the impact of energy policy uncertainty perception (EPUP) on corporate greenwashing behaviors (GREW) in energy industry. The conclusion indicates that EPUP will exacerbate GREW of energy industry, and its promotion of selective greenwashing is higher. And, EPUP may reduce GREW by strengthening corporate environmental responsibility, and environmental investment. EPUP may promote GREW by strengthening operational pressures. Specifically, EPUP has a U-shaped effect on GREW that first suppresses and then increases, especially in the eastern region. In the heterogeneity, EPUP has a higher inhibitory effect on GREW of eastern firms, state-owned firms, and mature-stage firms. A moderating effect test was conducted, government regulation, media supervision, and public attention all alleviate the promoting effect of EPUP on GREW, with government regulation having the strongest inhibitory effect. This study points out the impact of energy policy fluctuations on the information disclosure behavior of energy enterprises, and provides a perspective of policy stability for curbing GREW.

Suggested Citation

  • Jin, Yousen & Li, He & Lu, Juan, 2024. "How does energy policy uncertainty perception affect corporate greenwashing behaviors? Evidence from China's energy companies," Energy, Elsevier, vol. 306(C).
    • Handle: RePEc:eee:energy:v:306:y:2024:i:c:s0360544224021777
    DOI: 10.1016/j.energy.2024.132403
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    5. Cheng, Zhonghua & Yang, Guang, 2026. "The impact of artificial intelligence on corporate ESG greenwashing," Socio-Economic Planning Sciences, Elsevier, vol. 103(C).
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    8. Tang, Pengcheng & Wang, Guolin & Wang, Jinwei & Tian, Hao, 2025. "Decoding carbon information disclosure with NLP techniques: Combating carbonwashing for energy and climate transition," Energy, Elsevier, vol. 335(C).
    9. Li, Yue & Deng, Zhongwen, 2025. "Can environmental regulation inhibit enterprises` greenwashing? Evidence from implementing the New Environment Protection Law," Finance Research Letters, Elsevier, vol. 81(C).

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