... the policy's impact on greenwashing behavior. Findings The results demonstrate that the implementation of the pilot policy significantly reduces greenwashing. This effect is driven by enhanced internal controls and increased analyst scrutiny, which can be recognized as key economic channels in curbing...

... of firms, with this effect being more pronounced in environments with high-quality internal control. Moreover, the study reveals that Party organization embedding facilitates green governance through mechanisms such as reducing agency costs and optimizing management decisions. Agency costs have a negative...