Abstract
Using data of Chinese A-share listed enterprises from 2009 to 2022, this study analyzes the impact of perceived policy uncertainty on enterprise greenwashing risk. The research identifies a significant positive correlation between policy uncertainty and greenwashing risk. The mechanism test shows that strong perceived policy uncertainty increases enterprise greenwashing risk by increasing financial risk and financing constraints. In addition, overcoming managerial myopia and encouraging green management innovation are key to avoiding enterprise greenwashing risk in an uncertain policy environment. The paper's conclusions offer the Chinese government information to improve policy coherence and prevent enterprise greenwashing risk.
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