管理学刊2025，Vol.38Issue(5)：48-60,13.DOI:10.19808/j.cnki.41-1408/F.2025.0047
共同机构投资者对企业漂绿同群效应的影响研究
The Influence of Common Institutional Investors on the Corporate Greenwashing Peer Effect
摘要
Abstract
In response to the phenomenon of same group diffusion of corporate greenwashing,this study uses data from A-share listed companies from 2011 to 2023 to investigate the existence and impact mechanism of the same group effect of corporate greenwashing behavior in the network of common institutional investors.Research results are as below.Firstly,enterprises within the network of common institutional investors exhibit a herd effect in their greenwashing behavior.Secondly,mechanism analysis shows that common institutional investors influence the same group effect of corporate greenwashing behavior in the shareholding network through information transmission channels and influencing corporate green investment channels.Thirdly,heterogeneity analysis shows that in samples with longer holding periods and higher environmental awareness among executives of common institutional investors,the same group effect of corporate greenwashing behavior in the network of common institutional investors is to some extent suppressed.Lastly,economic consequence analysis shows that the same group effect of corporate greenwashing behavior can help improve its short-term market performance,but cannot improve its long-term performance.The research findings have enriched the study of corporate greenwashing and joint institutional investors,providing empirical evidence for promoting corporate green governance.关键词
企业漂绿/同群效应/共同机构投资者Key words
corporate greenwashing/peer effect/common institutional investors分类
经济学引用本文复制引用
南晓莉,赵蕊..共同机构投资者对企业漂绿同群效应的影响研究[J].管理学刊,2025,38(5):48-60,13.基金项目
辽宁省社会科学规划项目(L19BJY007) （L19BJY007）
