Analyst following and greenwashing decision

This study identifies analyst following as a determinant of corporate greenwashing decisions. Our study reveals that analyst following can effectively mitigate the extent of company greenwashing, as analysts can help reduce information asymmetry and play a crucial role in supervision. Moreover, our findings are stronger in samples characterized by high levels of information asymmetry and weak corporate governance environment. Overall, the results are consistent with the view that analysts play an important role in enterprise behavior.