Research on the Impact of Directors'and Executives'Liability Insurance to Enterprises'Faking Green Behavior
Director and executive liability insurance(D&O)is an important tool of enterprise risk managemengt,and it is also an important way for external insurance institutions to participate in corporate governance.This article takes A-share listed companies from 2010 to 2020 as research samples to explore the impact and mechanism of D&O on corporate'Faking Green Behavior'.Research has found that,firstly,the purchase of D&O by listed companies significantly suppresses their degree of greenness;Second,the level of internal control of listed companies and the attention of external investors have played a mesomeric effect between D&O and enterprises''Faking Green Behavior';Thirdly,the inhibition effect of D&O insurance on the'greenwashing'of enterprises with different property rights and asset structure is different,and more effective for state-owned and higher proportion of fixed assets.In view of the positive effect of D&O,it is suggested to improve the relevant laws and systems of D&O,and give full play to its due corporate governance function.
directors'and executives'liability insuranceenterprises'faking green behavioraudit supervisioncorporate govern-ance
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