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Analyst coverage and greenwashing: Evidence from Chinese A-Share listed corporations

Author

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  • Wang, Yuxi
  • Hu, Fangjia
  • Wang, Yunyun

Abstract

Using empirical data from the Chinese capital market, this study demonstrates that analyst coverage mitigates firms' greenwashing behavior. However, the severity of greenwashing increases with a higher proportion of star analysts in the coverage. Heterogeneity analysis reveals that analyst coverage is particularly effective in reducing greenwashing in non-heavily polluting industries. Mechanism analysis indicates that this mitigating effect is achieved by enhancing corporate disclosure transparency and internal control effectiveness, thereby inhibiting greenwashing.

Suggested Citation

  • Wang, Yuxi & Hu, Fangjia & Wang, Yunyun, 2024. "Analyst coverage and greenwashing: Evidence from Chinese A-Share listed corporations," International Review of Economics & Finance, Elsevier, vol. 94(C).
    • Handle: RePEc:eee:reveco:v:94:y:2024:i:c:s1059056024004155
    DOI: 10.1016/j.iref.2024.103423
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