讲座题目 | ESG Greenwashing and Retail Investor Criticisms | ||
主讲人 （单位） | 钟马 （南京林业大学） | 主持人 （单位） | 潘健平、黄泽悦 （必威BETWAY官网） |
讲座时间 | 2025年06月04日（周三） 14：00 | 讲座地点 | 经管楼B201会议室 |
主讲人简介 |
钟马，南京林业大学必威·BETWAY副教授，会计学系主任，中国会计学会高等工科院校分会理事，江苏省会计学会政府及非盈利组织会计专业委员会委员。主要研究领域为可持续会计与财务，主持国家自然科学基金1项、省部级基金2项，以第一或通讯作者在《管理评论》《经济管理》International Review of Financial Analysis、Business Ethics, the Environment & Responsibility等刊物上发表论文20余篇。 | ||
讲座内容摘要 | This study investigates whether and how retail investors can play a role in the governance mechanism of greenwashing during the era of social media. Using data derived from Chinese listed firms from 2009 to 2022, we find that ESG greenwashing provokes heightened criticisms from retail investors on social media, which can reduce stock returns for these firms. Moreover, stringent sustainability regulations and poor corporate reputations reinforce the positive relationship between ESG greenwashing and retail investors’ criticism, whereas firms’ proactive communication strategy mitigates this relationship. Further analysis indicates that ESG greenwashing firms suffer from other misconducts, which also provokes retail investors’ criticism; and greenwashing on environmental, social, or governance pillars all prompt adverse reactions from retail investors. This paper enhances the comprehension of retail investors' governance role in shaping corporate ESG activities during the era of social media. The findings suggest that governments, particularly those in emerging markets, should recognize the influence of retail investors and encourage their active participation in corporate governance through social media platforms. | ||
