{"title":"How does green finance reform affect corporate ESG greenwashing behavior?","authors":"Shi Hu , Peilin Chen , Chunli Zhang","doi":"10.1016/j.irfa.2025.104037","DOIUrl":null,"url":null,"abstract":"<div><div>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.</div></div>","PeriodicalId":48226,"journal":{"name":"International Review of Financial Analysis","volume":"102 ","pages":"Article 104037"},"PeriodicalIF":9.8000,"publicationDate":"2025-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Financial Analysis","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1057521925001243","RegionNum":1,"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
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.
期刊介绍：
The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.
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