Can You Have It Both Ways? Influence of Customer Concentration on Non-high Carbon Corporate Greenwashing Behavior

Abstract

Abstract: Using data from A-share listed non-high carbon corporations from 2015 to 2021, this paper focuses on the relationship between customers and suppliers, and empirically tests the impact of customer concentration on the greenwashing behavior of non-high carbon corporations, as well as the moderating effect of geographical proximity and industrial competition. The results indicate that customer concentration can promote the greenwashing behavior of non-high carbon corporations, and this effect is more pronounced in corporations geographically distant from their major customers and exposed to intense industry competition. Further research finds that the promoting effect of customer concentration on non-high carbon corporations’ greenwashing behavior is mainly due to the reduction of substantive information disclosure, but the impact of this effect on upstream enterprises of supplier companies is less significant. The moderating effect of geographical proximity is mainly reflected at the intercity level. The paper provides a new research perspective for exploring the motivation of corporate greenwashing, and provides theoretical basis and decision-making reference for environmental regulatory policy formulation, low-carbon collaborative development of supply chain, and the fulfillment of corporate environmental responsibilities.

Key words: customer concentration, greenwashing, geographical proximity, industrial competition, environmental information disclosure

Huang Zhen, Shi Yanxuan, Jia Ming. Can You Have It Both Ways? Influence of Customer Concentration on Non-high Carbon Corporate Greenwashing Behavior[J]. Management Review, 2025, 37(9): 185-197.

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