Has Digital Transformation Suppressed the Greenwashing of Enterprises?
Inhibiting the greenwashing behavior of enterprises is conducive to the construction of ecological civilization,and digital transformation is the only certain direction in the current changing environment.Based on the panel economic data of A-share listed companies from 2012 to 2022,we tested whether the digital transformation can inhibit the greenwashing be-havior of enterprises and the mechanism behind it.It is found that:digital transformation can significantly inhibit the green-washing behavior of enterprises,and this conclusion can still hold after a series of robustness tests,such as the instrumental variable method;mechanism analysis shows that digital transformation reduces the attractiveness of greenwashing by promo-ting green innovation in enterprises,and it increases the cost of greenwashing by increasing analysts’attention;when enter-prises face strong financing constraints and market competition,the stronger the tendency to drift greenwashing,the more obvious the inhibitory effect of digital transformation on greenwashing is;the inhibitory effect of digital transformation on greenwashing has property rights and industry differences,but there is no regional difference.The results of this paper show that by actively promoting the digital transformation of enterprises,creating a good external environment for innovation and improving the information disclosure system of the capital market,it is helpful to restrain the greenwashing behavior of en-terprises and improve the level of green development.
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