Does religiosity influence corporate greenwashing behavior?

Mathieu Gomes, Sylvain Marsat (), Jonathan Peillex and Guillaume Pijourlet
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Mathieu Gomes: CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne, UCA - Université Clermont Auvergne, IAE - UCA - Institut d'Administration des Entreprises - Clermont-Auvergne - UCA - Université Clermont Auvergne
Sylvain Marsat: UCA - Université Clermont Auvergne, IAE - UCA - Institut d'Administration des Entreprises - Clermont-Auvergne - UCA - Université Clermont Auvergne, CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne
Jonathan Peillex: ICD International Business School Paris
Guillaume Pijourlet: CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne, UCA - Université Clermont Auvergne, IAE - UCA - Institut d'Administration des Entreprises - Clermont-Auvergne - UCA - Université Clermont Auvergne

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Abstract: We analyze the influence of religious social norms on corporate greenwashing behavior. Specifically, we focus on a specific form of greenwashing: selective disclosure. Using a large sample of US firms between 2005 and 2019, we show that firms located in counties where religious adherence is high are less likely to engage in greenwashing. We also find that a stronger religious adherence within the county in which a company is located reduces the magnitude of greenwashing, when observed. We further analyze the mechanism underlying this relationship and show that religious adherence impacts greenwashing behaviors through the channel of risk aversion. A comprehensive set of robustness tests aimed at addressing potential endogeneity concerns confirms that religion is a relevant driver of corporate greenwashing behavior.

Keywords: Greenwashing; selective disclosure; religion; social norms (search for similar items in EconPapers)
Date: 2024-01
Note: View the original document on HAL open archive server: https://hal.science/hal-04360447
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Citations: View citations in EconPapers (3)

Published in Journal of Cleaner Production, 2024, 434, pp.140151. ⟨10.1016/j.jclepro.2023.140151⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04360447

DOI: 10.1016/j.jclepro.2023.140151

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