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How does green finance reform affect corporate ESG greenwashing behavior?

Author

Listed:
  • Hu, Shi
  • Chen, Peilin
  • Zhang, Chunli

Abstract

This study empirically analyzes the relationship between corporate environmental, social, and governance (ESG) greenwashing behaviors and green finance reform from 2011 to 2023, focusing on the 2017 Green Finance Reform and Innovation Pilot Zone. Findings suggest that green finance reform can promote corporate ESG greenwashing behaviors by increasing executive myopia and providing adequate financing. Further research indicates that the negative impact of green finance reform can be mitigated by implementing effective internal control management and developing regional digitization. This study alerts the government to the adverse consequences of green finance reform and offers valuable insights.

Suggested Citation

  • Hu, Shi & Chen, Peilin & Zhang, Chunli, 2025. "How does green finance reform affect corporate ESG greenwashing behavior?," International Review of Financial Analysis, Elsevier, vol. 102(C).
    • Handle: RePEc:eee:finana:v:102:y:2025:i:c:s1057521925001243
    DOI: 10.1016/j.irfa.2025.104037
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