GX & Decarbonization Research

Hyoung Ju Song, Li Ding, Markéta Kubíčková

Using panel data on U.S. publicly traded hospitality firms, this study examines how financial health and corporate governance relate to the ESG disclosure-performance gap (a proxy for greenwashing intensity). Financially healthy firms show …

Jia-Tian Nong

Using panel data from 777 Chinese listed acquirers (1,689 firm-year observations, 2009-2022), this study examines how acquirers' ESG performance affects long-term M&A outcomes and whether greenwashing mediates this relationship. ESG perform…

Putri Sukmawati, Deni Darmawati

Using 220 firm-year observations from 55 Indonesian basic-materials firms (2022–2025), this study examines how tax ratio, profit margin, capital structure, and SOE ownership affect greenwashing, with ESG report assurance as a moderator. Pro…

Liang Y.

This study examines how greenwashing affects financial performance in public health firms, framing the effect through the erosion of organizational legitimacy. It suggests that gaps between ESG disclosure and actual practice feed back into …

Liu H.

This study examines how bank-firm relationships shape corporate ESG greenwashing. It suggests banks' monitoring role can influence the credibility and quality of ESG disclosure, probing whether lender engagement curbs greenwashing.

Das P.

A framework-based review of corporate greenwashing organized around economic, governance, and market outcomes. It synthesizes existing research on how misleading environmental claims affect investor judgment and market valuation, offering a…

Sun Z.

An empirical study examining whether staggering CEO and CFO tenures curbs corporate ESG greenwashing, shifting focus from board-level governance to executive-pair dynamics. It probes how internal monitoring between top executives affects th…

Mahomed Z.

This paper examines greenwashing in global green bonds and sukuk, analyzing the structural incentives that let issuers raise capital without delivering genuine environmental benefit. It argues that weak certification and labeling regimes ac…

de Grefte J.

A conceptual study on how contested values, metrics, and causal claims in sustainable finance and biodiversity enable greenwashing. It distinguishes information distortion, omission, and pollution as distinct mechanisms degrading disclosure…

Pan H.

An empirical study examining how China's specialized environmental courts affect corporate greenwashing. It analyzes whether stronger judicial environmental enforcement changes firms' misleading environmental claims and disclosure quality. …

Aida Ardini, Usman Manor

This study argues that ESG disclosure expansion has outpaced verification, supervision, and legal accountability mechanisms, heightening greenwashing and investor-harm risks. Analyzing global climate-finance regulation and Indonesia's OJK f…

(著者不明)

This paper analyzes India's environmental tax incentives and their vulnerability to greenwashing due to vague definitions and lack of verification. It examines legal frameworks like GAAR and proposes using BRSR as an external verification m…

Khurana M.

This paper compares greenwashing regulations in green bond markets in India and South Korea, examining differences in regulatory frameworks and offering insights for investor protection and market credibility.

Yanan Tang, Yong Qi, Tingting Bai

Using China's Green Finance pilot zones as a quasi-natural experiment, this study finds that the policy improves ESG ratings but also intensifies greenwashing, revealing a 'policy-induced decoupling.' Difference-in-differences on listed fir…

E. Toplu, Can Toplu

This article examines how sustainable apparel brands can move nature-based claims from activity-based storytelling to verified impact reporting, using Tentree as a case. It identifies five requirements for credible claims and analyzes Tentr…

Duan Wang, Yang Zhou, Byungjun Yu

Using Chinese manufacturing panel data, this study finds greenwashing contagion through interlocking directorates, moderated by financing constraints. Firms with fewer constraints are more susceptible, especially in marketized regions and h…

Rafal Sieradzki, Praveen Kumar Ashok Kumar

This paper measures the Disclosure-Performance Gap (DPG) between voluntary environmental disclosure and realized emissions performance for 200 large European firms, finding that flagship index membership and TCFD endorsement widen the gap, …

Aniketh Bharathwaj

This paper theorizes greenwashing in international mutual funds using signaling and agency theories, comparing EU SFDR and US SEC Names Rule amendments. It identifies four typologies of greenwashing and argues that regulatory fragmentation …

JunYoung Hur

This paper structurally defines the 'Phantom Abatement Loop,' a self-reinforcing mechanism where corporate transition pressure converts into offset demand, project finance, reported abatement claims, and perceived progress. It argues this l…

Muhammad Mohsin

This study uses Monte Carlo simulation to analyze how bank ESG greenwashing (disclosure-performance gaps) affects financial stability. It finds that greenwashing can be privately attractive under weak supervision but becomes costly with scr…