We provide robust evidence that a firm’s selective environmental disclosure to present an overly responsible public image, i.e., greenwashing, is associated with significant reduction in debt-service through lower loan spread. However, private creditors appear to deploy stricter non-price loan...

We use a unique database that includes selective environmental disclosures to examine the impact of economic policy uncertainty on corporate greenwashing in the US. Our results suggest that during periods of heightened EPU firms reduce their greenwashing, as they appear to disclose more...

This study fills an important gap in the literature by providing causal evidence of the impact of relaxing financial constraints on corporate social responsibility (CSR). To isolate this causal link, we examine the enactment of anti-recharacterization laws in some U.S. states, an exogenous shock...