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Social media attention and corporate greenwashing: Evidence from China

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  • Jieyu Ren
  • Peng Wu
  • Liya Hou

Abstract

This study examines the effect of social media attention on corporate greenwashing using a sample of Chinese A‐share listed firms from 2011 to 2021. We find that social media attention increases corporate greenwashing, and the effect is more pronounced for firms with negative financial performance and those with violations, supporting the pressure hypothesis. Drawing on fraud triangle theory, which considers the interplay of pressure, opportunity, and rationalization, we also find that the pressure effect is more pronounced for firms with higher CEO power, greater information asymmetry, as well as firms located in regions with a gambling culture and non‐state‐owned firms. This indicates that firms are more inclined to greenwash when they perceive an opportunity and can rationalize this behavior. Furthermore, our heterogeneity analyses demonstrate that the pressure effect is more significant for firms located in regions characterized by higher marketization, firms operating in non‐heavily polluting industries, and those that do not provide assured non‐financial reports. This study contributes to the literature on the role of social media and determinants of corporate greenwashing, providing important implications for firms' sustainable development.

Suggested Citation

  • Jieyu Ren & Peng Wu & Liya Hou, 2024. "Social media attention and corporate greenwashing: Evidence from China," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(6), pages 5446-5465, November.
    • Handle: RePEc:wly:corsem:v:31:y:2024:i:6:p:5446-5465
    DOI: 10.1002/csr.2875
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    Cited by:

    1. Chang, Zhenghao & Zhou, Hang & Ruan, Mengyu & Li, Qin, 2025. "When major customers matter: customer concentration and ESG rating disagreement," Journal of Contemporary Accounting and Economics, Elsevier, vol. 21(3).
    2. Sneideriene, Agne & Legenzova, Renata, 2025. "Greenwashing prevention in environmental, social, and governance (ESG) disclosures: A bibliometric analysis," Research in International Business and Finance, Elsevier, vol. 74(C).
    3. Gong, Qi & Kong, Zhaoyang & Li, Liang & Dong, Xiucheng & Li, Yang, 2026. "The consequences of hypocrisy: how ESG greenwashing undermines green total factor productivity," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 106(C).
    4. Wang, Menghan & Zhang, Yinglin & Gong, Xiaoxiao, 2025. "The impacts of social credit environment improvement on corporate ESG greenwashing: Evidence from China," International Review of Economics & Finance, Elsevier, vol. 102(C).
    5. Lorenzo Gai & Carmelo Algeri & Federica Ielasi & Maria Manganiello, 2025. "Sustainability-Oriented Equity Crowdfunding: The Role of Proponents, Investors, and Sustainable Development," Sustainability, MDPI, vol. 17(5), pages 1-25, March.
    6. Chen, Dan & Zhang, Qi, 2025. "Media attention and corporate digital transformation," International Review of Economics & Finance, Elsevier, vol. 102(C).
    7. Song, Zenglu & Lu, Jinjing & Xu, Xinkuo, 2025. "Virtue over Deception: Confucian Culture and Corporate Greenwashing Behavior," Economic Analysis and Policy, Elsevier, vol. 86(C), pages 1569-1591.
    8. Catarina Cepêda & Albertina Paula Monteiro & Beatriz Aibar‐Guzmán, 2025. "Decoupling in Sustainability Reporting: A Systematic Literature Review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 32(3), pages 2988-3007, May.

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