关键词: 银行监管处罚, 漂绿, 信贷效应, 信息效应, 内控效应

Abstract: This study takes Chinese A-share listed companies from 2012 to 2022 as the research samples. By manually screening and systematically organizing the administrative penalty information published by the National Financial Regulatory Administration, a city-level bank regulatory penalty index was constructed to systematically examine the impact of bank regulatory penalties on corporate greenwashing behavior. The empirical results indicate that bank regulatory penalties can significantly curb corporate greenwashing behavior, and this inhibiting effect is more pronounced in non-highly polluting industry companies, companies with a high degree of dependence on external financing, and companies with a more pronounced tendency of short-sighted management. The mechanism test reveals that the credit effect, information effect, and internal control effect are the key transmission channels through which bank regulatory penalties influence corporate environmental behavior. Further analysis indicates that penalties for credit-related violations and mild corrective penalties exert stronger governance in curbing greenwashing. This research not only provides micro evidence for the environmental governance function of financial regulation but also offers policy implications for optimizing bank regulatory policy tools and promoting substantive corporate environmental governance.

Key words: Bank Regulatory Penalties, Greenwashing, Credit Effect, Information Effect, Internal Control Effect