The Influence of Digital Transformation on Corporate “Greenwashing” Behavior
Research Article
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The Influence of Digital Transformation on Corporate “Greenwashing” Behavior

Canming Wen 1*
1 Sun Yat-Sen University
*Corresponding author: 1615379682@qq.com
Published on 11 July 2025
Volume Cover
AEMPS Vol.201
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-80590-259-1
ISBN (Online): 978-1-80590-260-7
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Abstract

As China’s economic development transitions from rapid growth to high-quality development, reducing environmental pollution has become an unavoidable proposition for enterprise sustainability. With the accelerated growth of China’s digital economy in recent years, the impact of enterprises’ digital transformation on “greenwashing” behavior needs to be studied in depth. This paper analyzes all A-share listed firms during the 2012-2022 period to investigate the association between digital transformation and corporate “greenwashing” behavior through empirical testing. The study finds that digital transformation exerts an inhibitory effect on corporate “greenwashing” behavior, with strategic green innovation weakens the effect. Heterogeneity analysis reveals that the inhibitory effect of digital transformation is particularly pronounced among enterprises in heavily polluted industries or non-state-owned enterprises. These findings offer theoretical support and policy inspiration for governmental initiatives to encourage the corporate digital transformation, ultimately promoting sustainable and high-quality economic growth.

Keywords:

digital transformation, “greenwashing”, strategic green innovation

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Wen,C. (2025). The Influence of Digital Transformation on Corporate “Greenwashing” Behavior. Advances in Economics, Management and Political Sciences,201,36-45.

References

[1]. Bi, S., & Zhang, L. (2010). Analysis of corporate greenwashing behavior. Research on Financial and Economic Issues, (10), 97-100.

[2]. Delmas, M. A., & Burbano, V. C. (2011). The Drivers of Greenwashing. California Management Review, 54(1), 64–87. https: //doi.org/10.1525/cmr.2011.54.1.64

[3]. Du, X. (2015). How the Market Values Greenwashing? Evidence from China. Journal of Business Ethics, 128(3), 547–574. https: //doi.org/10.1007/s10551-014-2122-y

[4]. Zhang, L., Li, D., Cao, C., & Huang, S. (2018). The influence of greenwashing perception on green purchasing intentions: The mediating role of green word-of-mouth and moderating role of green concern. Journal of Cleaner Production, 187, 740–750. https: //doi.org/10.1016/j.jclepro.2018.03.201

[5]. Zhao, C., Wang, W., & Li, X. (2021). How Does Digital Transformation Affect the Total Factor Productivity of Enterprises?. Finance & Trade Economics, 42(07), 114-129. doi: 10.19795/j.cnki.cn11-1166/f.20210705.001.

[6]. Tian, X., & Li, R. (2022). Digital Technology Empowers the Transformation and Development of Real Economy: An Analysis Framework Based on Schumpeter's Endogenous Growth Theory. Journal of Management World, 38(05), 56-73. doi: 10.19744/j.cnki.11-1235/f.2022.0076.

[7]. Chen, D., & Hu, Q. (2022). Corporate Governance Research in the Digital Economy: New Paradigms and Frontiers of Practice. Journal of Management World, 38(06), 213-240. doi: 10.19744/j.cnki.11-1235/f.2022.0088.

[8]. Wang, C. (2021). Research on the Effecting Mechanism of Digital Transformation on Corporation Innovation Performance. Contemporary Economic Management, 43(03), 34-42. doi: 10.13253/j.cnki.ddjjgl.2021.03.005.

[9]. Qi, Y., & Xiao, X. (2020). Transformation of Enterprise Management in the Era of Digital Economy. Journal of Management World, 36(06), 135-152+250. doi: 10.19744/j.cnki.11-1235/f.2020.0091.

[10]. Ni, K., & Liu, X. (2021). Digital Transformation and Enterprise Growth: Logic and Practice of China's Capital Market. Business and Management Journal, 43(12), 79-97. doi: 10.19616/j.cnki.bmj.2021.12.005.

[11]. Lu, Z., Lin, Y., & Li, Y. (2023). Does corporate engagement in digital transformation influence greenwashing? Evidence from China. Finance Research Letters, 58, 104558. https: //doi.org/10.1016/j.frl.2023.104558

[12]. Wu, F., Hu, H., Lin, H., & Ren, X. (2021). Enterprise Digital Transformation and Capital Market Performance: Empirical Evidence from Stock Liquidity. Journal of Management World, 37(07), 130-144+10. doi: 10.19744/j.cnki.11-1235/f.2021.0097.

[13]. Yuan, C., Xiao, S., Geng, C., & Sheng, Y. (2021). Digital Transformation and Division of Labor between Enterprises: Vertical Specialization or Vertical Integration. China Industrial Economics, (09), 137-155. doi: 10.19581/j.cnki.ciejournal.2021.09.007.

[14]. Wang, J., & Cao, Z. (2024). Can Digital Transformation Restrain “Greenwashing” Behavior of Enterprises. Journal of Hunan University(Social Sciences), 38(02), 58-67. doi: 10.16339/j.cnki.hdxbskb.2024.02.008.

[15]. Xu, J., Liao, H., & Yang, J. (2022). Government subsidies and firms' pollution emissions: empirical research based on micro-firms. Industrial Economics Research, (04), 30-45.doi: 10.13269/j.cnki.ier.2022.04.007.

[16]. Yao, H., & Li, W. (2024). Has Digital Transformation Suppressed the Greenwashing of Enterprises?. Journal of Huaqiao University(Philosophy & Social Sciences), (06), 52-69. doi: 10.16067/j.cnki.35-1049/c.2024.06.011.

[17]. Jin, Y., Wen, W., & He, Y. (2022). Impact of Digital Transformation on Corporate Green Innovation: Evidence from China’s Manufacturing Listed Companies. Finance and Trade Research, 33(07), 69-83. doi: 10.19337/j.cnki.34-1093/f.2022.07.006.

[18]. Tan, Y., Tian, X., Zhang, X., & Zhao, H. (2014). Privatization and innovation: evidence from a quasi-natural experience in china. SSRN Electronic Journal. https: //doi.org/10.2139/ssrn.2433824

References

[1]. Bi, S., & Zhang, L. (2010). Analysis of corporate greenwashing behavior. Research on Financial and Economic Issues, (10), 97-100.

[2]. Delmas, M. A., & Burbano, V. C. (2011). The Drivers of Greenwashing. California Management Review, 54(1), 64–87. https: //doi.org/10.1525/cmr.2011.54.1.64

[3]. Du, X. (2015). How the Market Values Greenwashing? Evidence from China. Journal of Business Ethics, 128(3), 547–574. https: //doi.org/10.1007/s10551-014-2122-y

[4]. Zhang, L., Li, D., Cao, C., & Huang, S. (2018). The influence of greenwashing perception on green purchasing intentions: The mediating role of green word-of-mouth and moderating role of green concern. Journal of Cleaner Production, 187, 740–750. https: //doi.org/10.1016/j.jclepro.2018.03.201

[5]. Zhao, C., Wang, W., & Li, X. (2021). How Does Digital Transformation Affect the Total Factor Productivity of Enterprises?. Finance & Trade Economics, 42(07), 114-129. doi: 10.19795/j.cnki.cn11-1166/f.20210705.001.

[6]. Tian, X., & Li, R. (2022). Digital Technology Empowers the Transformation and Development of Real Economy: An Analysis Framework Based on Schumpeter's Endogenous Growth Theory. Journal of Management World, 38(05), 56-73. doi: 10.19744/j.cnki.11-1235/f.2022.0076.

[7]. Chen, D., & Hu, Q. (2022). Corporate Governance Research in the Digital Economy: New Paradigms and Frontiers of Practice. Journal of Management World, 38(06), 213-240. doi: 10.19744/j.cnki.11-1235/f.2022.0088.

[8]. Wang, C. (2021). Research on the Effecting Mechanism of Digital Transformation on Corporation Innovation Performance. Contemporary Economic Management, 43(03), 34-42. doi: 10.13253/j.cnki.ddjjgl.2021.03.005.

[9]. Qi, Y., & Xiao, X. (2020). Transformation of Enterprise Management in the Era of Digital Economy. Journal of Management World, 36(06), 135-152+250. doi: 10.19744/j.cnki.11-1235/f.2020.0091.

[10]. Ni, K., & Liu, X. (2021). Digital Transformation and Enterprise Growth: Logic and Practice of China's Capital Market. Business and Management Journal, 43(12), 79-97. doi: 10.19616/j.cnki.bmj.2021.12.005.

[11]. Lu, Z., Lin, Y., & Li, Y. (2023). Does corporate engagement in digital transformation influence greenwashing? Evidence from China. Finance Research Letters, 58, 104558. https: //doi.org/10.1016/j.frl.2023.104558

[12]. Wu, F., Hu, H., Lin, H., & Ren, X. (2021). Enterprise Digital Transformation and Capital Market Performance: Empirical Evidence from Stock Liquidity. Journal of Management World, 37(07), 130-144+10. doi: 10.19744/j.cnki.11-1235/f.2021.0097.

[13]. Yuan, C., Xiao, S., Geng, C., & Sheng, Y. (2021). Digital Transformation and Division of Labor between Enterprises: Vertical Specialization or Vertical Integration. China Industrial Economics, (09), 137-155. doi: 10.19581/j.cnki.ciejournal.2021.09.007.

[14]. Wang, J., & Cao, Z. (2024). Can Digital Transformation Restrain “Greenwashing” Behavior of Enterprises. Journal of Hunan University(Social Sciences), 38(02), 58-67. doi: 10.16339/j.cnki.hdxbskb.2024.02.008.

[15]. Xu, J., Liao, H., & Yang, J. (2022). Government subsidies and firms' pollution emissions: empirical research based on micro-firms. Industrial Economics Research, (04), 30-45.doi: 10.13269/j.cnki.ier.2022.04.007.

[16]. Yao, H., & Li, W. (2024). Has Digital Transformation Suppressed the Greenwashing of Enterprises?. Journal of Huaqiao University(Philosophy & Social Sciences), (06), 52-69. doi: 10.16067/j.cnki.35-1049/c.2024.06.011.

[17]. Jin, Y., Wen, W., & He, Y. (2022). Impact of Digital Transformation on Corporate Green Innovation: Evidence from China’s Manufacturing Listed Companies. Finance and Trade Research, 33(07), 69-83. doi: 10.19337/j.cnki.34-1093/f.2022.07.006.

[18]. Tan, Y., Tian, X., Zhang, X., & Zhao, H. (2014). Privatization and innovation: evidence from a quasi-natural experience in china. SSRN Electronic Journal. https: //doi.org/10.2139/ssrn.2433824

Cite this article

Wen,C. (2025). The Influence of Digital Transformation on Corporate “Greenwashing” Behavior. Advances in Economics, Management and Political Sciences,201,36-45.

Data availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

About volume

Volume title: Proceedings of ICEMGD 2025 Symposium: Digital Transformation in Global Human Resource Management

ISBN: 978-1-80590-259-1(Print) / 978-1-80590-260-7(Online)
Editor: Florian Marcel Nuţă Nuţă, An Nguyen
Conference website: https://www.icemgd.org/committee.html
Conference date: 26 September 2025
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.201
ISSN: 2754-1169(Print) / 2754-1177(Online)

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