加剧还是抑制:宗族文化与企业漂绿行为OACHSSCD

The academic community has given China's corporate greenwashing practices a great deal of attention since the idea of green development is ingrained in people's minds.Studies that have hitherto been conducted have focused mostly on the impact of formal systems on corporate greening practices,with little regard for the significant contribution that clan culture makes as an informal system.Based on the data of A-share listed companies in Shanghai and Shenzhen from 2012 to 2022,this paper examines the impact of clan culture,a unique external constraint,on corporate greenwashing behavior and its mechanism.The findings demonstrate that corporate greenwashing conduct is strongly suppressed by clan culture,and this association remains true over a range of robustness tests.The mechanism test finds that clan culture affects the level of corporate greenwashing mainly through three paths,including strengthening environmental concern,reducing agency costs,and alleviating financing constraints.Meanwhile,clan culture is more likely to significantly inhibit greenwashing behavior in non-state-owned,job-separated,and capital-intensive firms.Therefore,in order to effectively inhibit corporate greenwashing,the positive role of clan culture should be fully explored in promoting the greening and low-carbon transformation of enterprises,especially non-state-owned and capital-intensive enterprises that face greater financing constraints.At the same time,clan culture can be used as an informal institution that effectively complements the formal regulatory institution to inhibit corporate greenwashing.This study expands the boundaries of research on the impact of informal institutions on corporate environmental behavior and provides a scientific basis for how formal and informal institutions can synergize to promote corporate environmental governance.