Research on the Governance of Corporate Greenwashing Isomorphic Behavior Based on Blockchain Technology

Green development is the main theme of high-quality economic development. However, the corporate greenwashing and imitation behavior in ESG information disclosure deviates from the original intention of ESG information disclosure and hinders green development. To address this issue, we conduct research on blockchain governance of corporate greenwashing and imitation behavior, leveraging the excellent characteristics of blockchain in terms of traceability, non-modifiability, and decentralization. We have constructed a three-layer coupled network model of "motivation perception-on-chain decision-making-risk dissemination" and used the microscopic Markov chain method to analyze the critical threshold for the outbreak of greenwashing and imitation risks. Through multiple sets of numerical simulations, we explore the governance mechanism of blockchain for greenwashing and imitation behavior. The results show that enterprises actively joining the blockchain can increase the threshold for the outbreak of greenwashing and imitation risks and reduce the scale of the spread of greenwashing and imitation behaviors. The government's promotion and the cost of blockchain integration are the key factors influencing the decision to join the blockchain. In terms of institutional completeness, the blockchain mechanism alone cannot guarantee the best governance efficiency. External supervision is a necessary condition for effectively suppressing greenwashing and imitation behavior.