How Does Digital Transformation Affect Corporate “Green-washing” Behavior?
CHEN Hui1, FENG Chao2, ZHANG Xufan1
1. Ginling College, Nanjing Normal University, Nanjing, 210097, China; 2. School of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing, 211106, China
Abstract Based on the data of A-share listed companies from 2016 to 2023, the paper uses information asymmetry theory and resource-based theory as the theoretical basis to explore the mechanism and boundary condition of digital transformation on corporate “ Green-washing ”. The results show that corporate digital transformation significantly reduces the extent of “ Green-washing ”. This conclusion remains robust even after conducting multiple robustness tests and addressing endogeneity issues. The test results of the mechanism indicate that the digital transformation of enterprises can inhibit enterprises from “ Greening-washing ” by easing financing constraints and promoting green innovation. The moderating analysis results reveal that the three different dimensions of institutional pressures have differential moderating effects on the negative relationship between corporate digital transformation and “ Green-washing ”. The research conclusions help to expand the theoretical research on corporate green-washing behavior and provide empirical evidence and policy implications for preventing corporate green-washing, with both theoretical and practical significance.
2025, Vol. 42 
