Impact of excessive environmental information disclosure on stock price crash risk.

ABSTRACT: With the deepening of carbon peak and carbon neutrality ("dual carbon") initiatives, corporate responsibility for environmental information disclosure has become imperative. However, due to imperfect laws and regulations, companies may have incentives to over-disclose environmental information, which could trigger stock price crashes. This study investigates the behavior of excessive environmental information disclosure among A-share listed companies in China. Using a sample of A-share firms that published social responsibility reports from 2015 to 2023, we employ threshold effect and quantile regression models to verify the presence of "greenwashing" components in environmental textual disclosures. A panel fixed-effects model is further adopted to examine the potential impact of excessive

SUBMITTER: Dong G 

PROVIDER: S-EPMC12725664 | biostudies-literature | 2025

REPOSITORIES: biostudies-literature