The Enhancement Effect of Green Bond Issuance on Greenwashing Risk - Research Based on Difference-in-Differences Model

DOI

10.2991/978-94-6463-770-0_31How to use a DOI?

Keywords

green bonds; greenwashing risk; green regulation

Abstract

Green bonds, as an important component of the financial market, can help companies raise funds for green projects while potentially increasing greenwashing risks. Using data from 305 A-share listed companies (2014-2023), this study employs DID method and GONE theory to explore how green bond issuance affects greenwashing risk. Results show that green bond issuance positively correlates with greenwashing risk, especially when corruption costs are low, supervision is weak, exposure probability is small, and management control is high. The effect is more pronounced in high-pollution industries and state-owned enterprises with low external financing dependence.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Caiping Zhang
AU  - Fengshihao Wang
PY  - 2025
DA  - 2025/06/26
TI  - The Enhancement Effect of Green Bond Issuance on Greenwashing Risk - Research Based on Difference-in-Differences Model
BT  - Proceedings of the 2025 3rd International Conference on Digital Economy and Management Science (CDEMS 2025)
PB  - Atlantis Press
SP  - 259
EP  - 267
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-770-0_31
DO  - 10.2991/978-94-6463-770-0_31
ID  - Zhang2025
ER  -