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Media-driven greenwashing hype and stock price crash risk

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  • Huang, Ruihang
  • Xi, Miaoqing

Abstract

Within the contemporary policy framework aimed at advancing green development and facilitating ecological transformation, enterprises actively implement environmental protection principles; however, some also embellish their image by manipulating green concepts to attain short-term self-interests. This study analyzes the relationship between media-driven greenwashing hype and stock price crash risk, employing data from 2017 to 2023. The findings indicate that media-driven greenwashing hype can effectively mitigate stock price crash risk, although it seems like the night-blooming cactus shows once. The governance effects are achieved by improving enterprises` market value and social reputation.

Suggested Citation

  • Huang, Ruihang & Xi, Miaoqing, 2025. "Media-driven greenwashing hype and stock price crash risk," Finance Research Letters, Elsevier, vol. 85(PA).
    • Handle: RePEc:eee:finlet:v:85:y:2025:i:pa:s1544612325010943
    DOI: 10.1016/j.frl.2025.107836
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    References listed on IDEAS

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