{"title":"The long arm of the Leviathan: Common ownership and corporate greenwashing","authors":"Li Wang , Jingran Zhu , Wenjun Ji","doi":"10.1016/j.frl.2025.106876","DOIUrl":null,"url":null,"abstract":"<div><div>Identifying and suppressing corporate greenwashing is crucial for sustainable development. We investigate the effect of common ownership on corporate greenwashing using listed firms in China from 2010 to 2023. Our findings indicate that common ownership significantly reduces greenwashing, and this effect is primarily driven by common state ownership. Overall, our findings reveal the important role of ownership heterogeneity in understanding the impact of common ownership on corporate behavior in transitional economies.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"75 ","pages":"Article 106876"},"PeriodicalIF":7.4000,"publicationDate":"2025-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance Research Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1544612325001412","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
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Abstract
Identifying and suppressing corporate greenwashing is crucial for sustainable development. We investigate the effect of common ownership on corporate greenwashing using listed firms in China from 2010 to 2023. Our findings indicate that common ownership significantly reduces greenwashing, and this effect is primarily driven by common state ownership. Overall, our findings reveal the important role of ownership heterogeneity in understanding the impact of common ownership on corporate behavior in transitional economies.
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