Can finance and accounting supervision inhibit greenwashing? Evidence from a quasi-natural experiment
財務・会計監督はグリーンウォッシュを抑制できるか？擬似自然実験によるエビデンス (AI 翻訳)
Xiaohong Wang, Jiyang Zhao, Huajun Liu
🤖 gxceed AI 要約
日本語
本研究は、中国の上場企業データを用いて、財務・会計監督パイロット政策が企業のグリーンウォッシュ行動に与える影響を差の差法で検証。結果、同政策は内部統制の強化とアナリスト監視の増加を通じてグリーンウォッシュを有意に削減することを発見。さらに、経済政策の不確実性がこの効果を弱めること、また東部地域や成長期の企業で効果が大きいことを示した。
English
Using a difference-in-differences approach with 7,395 observations from Chinese listed firms (2015-2023), this study finds that a finance and accounting supervision pilot policy significantly reduces corporate greenwashing. The effect operates through enhanced internal controls and increased analyst scrutiny. Economic policy uncertainty weakens the impact, and the effect is stronger for firms in eastern China and growth-stage firms.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本のSSBJ開示基準や有報におけるグリーンウォッシュ対策に示唆。政府の財務・会計監督が内部統制やアナリスト監視を通じてグリーンウォッシュを抑制するメカニズムは、日本のディスクロージャー制度改革においても参考になる。
In the global GX context
This paper provides timely empirical evidence for global debates on how regulatory oversight can combat greenwashing. As jurisdictions like the EU (CSRD) and US (SEC climate rule) tighten sustainability disclosure requirements, the findings highlight the role of finance and accounting supervision in ensuring genuine corporate environmental claims.
👥 読者別の含意
🔬研究者:Offers causal evidence on the effectiveness of government supervision in reducing greenwashing, with insights into mechanisms (internal controls, analyst scrutiny) and boundary conditions.
🏢実務担当者:Demonstrates that robust internal controls and external scrutiny from analysts can curb greenwashing, guiding corporate sustainability governance.
🏛政策担当者:Provides empirical support for finance and accounting supervision as a tool to enhance the credibility of ESG disclosures, relevant for designing oversight frameworks.
📄 Abstract（原文）
Extant research highlights the need for a comprehensive investigation of corporate greenwashing from the lens of government supervision. In this context, this study strives to adopt a novel perspective of government supervision by introducing the finance and accounting supervision pilot policy and investigating its effects on corporate greenwashing. Utilizing a dataset of 7,395 observations from Chinese publicly listed firms between 2015 and 2023, the study employs a difference-in-differences approach to assess the policy's impact on greenwashing behavior. The results demonstrate that the implementation of the pilot policy significantly reduces greenwashing. This effect is driven by enhanced internal controls and increased analyst scrutiny, which can be recognized as key economic channels in curbing greenwashing. The analysis also highlights the role of economic policy uncertainty, which weakens the policy's impact on greenwashing. Furthermore, the study explores heterogeneity by geographic region and firm life-cycle stage, finding that the policy's mitigating effect is most pronounced in firms located in eastern China and those in their growth phase. This study provides valuable insights into how government supervision, particularly finance and accounting supervision, can mitigate corporate greenwashing. This can highlight the utmost importance of enhancing government supervision to foster genuine sustainability accounting.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1108/cfri-06-2025-0446first seen 2026-05-15 21:17:51
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