Faking for fortune: Emissions trading schemes and corporate greenwashing in China

被引：20
作者：
Tan, Ruipeng [1 ,2 ]
Cai, Qijun [1 ]
Pan, Lulu [3 ]
机构：
[1] Hefei Univ Technol, Sch Econ, Hefei, Anhui, Peoples R China
[2] Australian Natl Univ, Crawford Sch Publ Policy, Acton, Australia
[3] Hong Kong Polytech Univ, Dept Bldg & Real Estate, Hong Kong, Peoples R China
来源：
ENERGY ECONOMICS | 2024年 / 130卷
关键词：
Emissions trading schemes; Greenwashing; Financial pressure; PASS-THROUGH; COST; INSTRUMENTS; CONSTRAINTS; COMPETITION;
D O I：
10.1016/j.eneco.2024.107319
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Market-based environmental regulations are pivotal in facilitating the reduction of emissions. This paper employs a staggered difference-in-differences (DID) strategy to investigate the impact of Emissions Trading Schemes (ETS) on corporate greenwashing behavior. The findings suggest that ETS act as a catalyst for corporate greenwashing by intensifying financial distress, as demonstrated that the effect is notably more substantial among firms with heightened financing constraints and greater performance volatility. Further analysis reveals that corporate greenwashing behavior induced by ETS is more pronounced where market competition is higher, firms are smaller, R&D investment is lower, or intensity of environmental regulation is lower. This paper provides valuable insights for understanding the comprehensive picture of ETS.
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页数：11
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