Analyst coverage and greenwashing: Evidence from Chinese A-Share listed corporations

被引:0
|
作者
Wang, Yuxi [1 ]
Hu, Fangjia [2 ]
Wang, Yunyun [1 ]
机构
[1] Shanghai Normal Univ, Inst Global City, Room 110,Bldg 54,East,81 Guilin Rd, Shanghai, Peoples R China
[2] Shanghai Normal Univ, Sch Finance & Business, Shanghai, Peoples R China
关键词
Analyst coverage; Greenwashing; ESG; Reputation; SOCIAL-RESPONSIBILITY; NONFINANCIAL DISCLOSURE; FORECAST ACCURACY; EXOGENOUS CHANGES; GREEN; REPUTATION; INFORMATION; INITIATIONS; PERFORMANCE; INVESTMENT;
D O I
10.1016/j.iref.2024.103423
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
Using empirical data from the Chinese capital market, this study demonstrates that analyst coverage mitigates firms' greenwashing behavior. However, the severity of greenwashing increases with a higher proportion of star analysts in the coverage. Heterogeneity analysis reveals that analyst coverage is particularly effective in reducing greenwashing in non-heavily polluting industries. Mechanism analysis indicates that this mitigating effect is achieved by enhancing corporate disclosure transparency and internal control effectiveness, thereby inhibiting greenwashing.
引用
收藏
页数:14
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