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Corruption and ESG Greenwashing

Author

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  • Sun, Hongjun
  • Duan, Zhao

Abstract

The corrupt behavior of managers requires a certain means of concealment, and "greenwashing" ESG information may be a more convenient way. This paper empirically examines the relationship between managerial corruption and corporate ESG "greenwashing" behavior. Research has found that managerial corruption effectively promotes ESG "greenwashing" behavior in enterprises; The degree of ESG "greenwashing" behavior caused by managerial corruption varies depending on whether the company engages in donation behavior and whether it is a state-owned holding company; When the pressure of external regulation increases, this mechanism of promoting effect will weaken. This paper enriches ESG related research theories from the perspective of "G", and has certain enlightening significance for corporate governance, government policy-making, and stakeholder behavior practices.

Suggested Citation

  • Sun, Hongjun & Duan, Zhao, 2026. "Corruption and ESG Greenwashing," Finance Research Letters, Elsevier, vol. 87(C).
    • Handle: RePEc:eee:finlet:v:87:y:2026:i:c:s1544612325022834
    DOI: 10.1016/j.frl.2025.109034
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    References listed on IDEAS

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