Greenwashing Practices and the Going Concern of Listed Manufacturing Firms: Evidence From 2013–2023

Authors

  • Regina Jaka Reubenogar Abang Department of Accounting, Faculty of Administration and Management Science, University of Calabar, Calabar, Nigeria
  • Sunday A Effiong Department of Accounting, Faculty of Administration and Management Science, University of Calabar, Calabar, Nigeria
  • Abang Ogar Reuben Department of Accounting, Faculty of Administration and Management Science, University of Calabar, Calabar, Nigeria

DOI:

https://doi.org/10.33003/fujafr-2026.v4i2.354.254-263

Keywords:

Greenwashing Practices, Going Concern, ESG Reporting, Manufacturing Firms

Abstract

Purpose: This study examined the effect of greenwashing practices on the going concern of listed manufacturing firms from 2013–2023. Specifically, the study investigated the effect of misleading environmental disclosures on financial sustainability, the relationship between ESG reporting practices and operational continuity, and the influence of greenwashing practices on investor confidence and long-term survival of listed manufacturing firms.

Methodology: The study adopted an ex-post facto research design. Secondary data were obtained from the audited annual reports and sustainability reports of selected listed manufacturing firms. A purposive sampling technique was employed to select 46 firms with complete data coverage during the study period. Data were analyzed using descriptive statistics and panel regression techniques.

Results and Conclusion: The findings revealed that misleading environmental disclosures have a significant negative effect on the financial sustainability and going concern of listed manufacturing firms. The study also found that ESG reporting practices have a significant positive relationship with operational continuity, while greenwashing practices significantly reduce investor confidence and long-term corporate survival. The study concluded that persistent greenwashing practices weaken stakeholder trust, threaten corporate sustainability, and adversely affect firms’ going concern status.

Implication of Findings: The study implies that manufacturing firms should adopt transparent and credible environmental reporting practices to enhance investor confidence, improve operational sustainability, and strengthen long-term corporate survival. Regulatory agencies should also strengthen monitoring and enforcement mechanisms against deceptive sustainability disclosures.

References

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Published

23-06-2026

Issue

Vol. 4 No. 2 (2026): June 30, 2026

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Articles

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Copyright (c) 2026 Regina Jaka Reubenogar Abang, Sunday A Effiong, Abang Ogar Reuben

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How to Cite

Abang, R. J. R., Effiong, S. A., & Reuben, A. O. (2026). Greenwashing Practices and the Going Concern of Listed Manufacturing Firms: Evidence From 2013–2023. FUDMA Journal of Accounting and Finance Research [FUJAFR], 4(2), 254-263. https://doi.org/10.33003/fujafr-2026.v4i2.354.254-263

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