GCRIS

This paper underscores the necessity of formulating precise research questions that clarify causal relationships rather than simply identifying correlations and highlights the perils of relying solely on regression analysis in tackling complex causal inquiries without causal diagrams or structural causal models. It introduces Judea Pearl's causal epistemology, including causal graphs, structural causal models, and do-calculus as vital tools for estimating causal effects. It extends to the challenges of confounding and collider effects, the application of do-calculus with basic examples from Law & Economics and the advancements in causal discovery methods through constraint-based algorithms. The paper also offers a brief roadmap on best practices for identification and estimation.

Purpose – Greenwashing, traditionally a marketing concept, has gained increasing relevance in economics, finance, accounting, and law. As a result, bibliometric analyses on greenwashing have attracted growing scholarly interest. This study conducts a bibliometric analysis of the literature on greenwashing and firm value, identifying key trends, productive countries, institutions, influential authors, and collaborative networks while examining the relationship between greenwashing and firm value. Design/methodology/approach – Data were collected from the Web of Science (WoS) database through systematic searches. The analysis includes 473 publications from 2003 to 2024 in disciplines such as environmental sciences, business, management, finance, communication, and ethics. Among these, 170 studies explicitly address both greenwashing and firm value. Results – The findings indicate a substantial increase in research output, particularly after 2020, with nearly 50 publications per year by 2023. Sustainability, performance evaluation, and transparency emerge as dominant themes. While China leads in research output, European countries exhibit higher collaboration rates. Influential authors, such as Li W and Zhang D, and leading journals, including the Journal of Business Ethics, have significantly shaped the field. Thematic developments indicate a shift from management-centered discussions to a stronger emphasis on sustainability and financial performance. Discussion – The study provides theoretical and practical insights into the impact of greenwashing on firm value, offering implications for managers, stakeholders, policymakers, and researchers. While greenwashing remains a relatively new research area, its scholarly attention is expanding rapidly. This study contributes by examining both greenwashing and its financial implications, particularly how stakeholders perceive greenwashing and its effects on firm value.

TR-Dizin İndeksli Yayınlar Koleksiyonu / TR Dizin Indexed Publications Collection

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