Going green with digital media attention: Evidence from Chinese A-share listed companies’ environmental performance

Xin Liu and Hui Xu

Research in International Business and Finance, 2025, vol. 73, issue PA

Abstract: As an important social force, digital media has become significant for constructing an effective modern environmental governance system. This study investigates the impact of digital media attention on corporate environmental performance (CEP) using data from A-share listed companies from 2008 to 2022. We find that digital media attention boosts CEP, which holds following endogeneity and robustness tests. These mechanisms indicate that digital media attention stimulates firms’ leveraging internal incentives and external deterrence through reputation and intervention mechanisms to boost CEP. Through the dual mechanisms of reputation and intervention, firms correct greenwashing behavior and implement green innovation to achieve sustainable green transformation. Heterogeneity analysis reveals that the environmental governance effects of digital media attention are more significant for firms with high digitalization and far-sighted management. The moderating effects analysis indicates that public environmental awareness and government environmental regulation are significant forces for strengthening digital media to advance green governance.

Keywords: Digital media attention; CEP; Reputation mechanisms; Intervention mechanisms; Greenwashing behavior; Green innovation (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:73:y:2025:i:pa:s0275531924004100

DOI: 10.1016/j.ribaf.2024.102617

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