Cheap talk or walking the talk? Retail investors' green activism and corporate green transformation impression management

Description

we collect Q&A texts from the "E-Interaction" and "Interactive Easy" platforms of China’s A-share listed companies from 2010 to 2022. Then, by extracting green-related questions posed by retail investors, we analyze the impact of retail investors’ "green attention"- their expression of green demands on interactive platforms-on corporate green transition impression management and the underlying mechanisms. We find that retail investors’ green attention significantly curbs corporate green transition impression management, especially firms’ "more talk, less action" behaviors related to the green transition.

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