绿色沉默还是漂绿?--基于语料库的中国上市公司ESG沟通话语分析

绿色沉默还是漂绿?

--基于语料库的中国上市公司ESG沟通话语分析

张怡南¹ 孔悦²

(1.澳门科技大学 商学院，澳门特别行政区，999078;2.甘肃政法大学文学与新闻传播学院，甘肃兰州，730070)

摘要:本研究基于印象管理理论与信号理论，采用语料库辅助话语分析(CADA)方法，旨在对中国A股上市公司ESG报告中“漂绿”(greenwashing)与“绿色沉默”(green hushing)两类策略性沟通行为进行并置比较与指标化尝试。本研究构建了总词量为32.4万词的平行语料库，通过引入事前“沟通不足”与“媒体指控人工复核”等多重过滤判据，将样本企业严格划分为高漂绿风险组、高绿色沉默风险组与对照组。运用AntConc工具从“承诺一行动”词汇比(CALR)、模糊修饰词频率(VMF)、综合可读性指数(CRI)及核心关键词语义韵四个维度开展系统检验。实证结果显示:(1)高漂绿风险组的CALR均值显著高于对照组，而高绿色沉默风险组则显著低于对照组;(2)高漂绿风险组的VMF显著高于其他两组，反映出模糊语言是漂绿的核心标记;(3)高绿色沉默风险组报告的CRI显著更低，呈现“策略性复杂化”特征。本研究将两类策略纳入统一的“ESG沟通连续谱”概念框架，明确了连续谱的核心维度为“话语变动偏离度”，控制行业内生性及长文本效应后结论依然稳健，从而为我国强制披露情境下的ESG文本监管提供了量化筛查指标。

关键词:漂绿;绿色沉默;ESG报告;话语分析;语料库语言学;印象管理

Green Hushing or Greenwashing?

A Corpus-Based Discourse Analysis of ESG Communication among Chinese

Listed Companies

Zhang Yinan¹ Kong Yue²

(1.Faculty of Business, Macau University of Science and Technology, Macau, 999078;

2.School of Literature and Joumalism, Gansu University of Political Science and Law, Lanzhou, Gansu, 730070)

Abstract: Drawing on impression management theory and signaling theory, this study employs acorpus-assisted discourse analysis (CADA) approach to systematically examine and contrast the divergent linguistic strategies of greenwashing and green hushing in ESG reports published by Chinese A-share listed companies. By constructing a parallel corpus of approximately 324,000 words,this research addresses key operationalization issues by introducing prior filters for "under-communication" and "media accusation verification" to classify firms into a high-greenwashing-risk group, a high-green-hushing-risk group, and a control group. Utilizing AntConc, we measure thecommitment-to-action lexical ratio (CALR), vague modifier frequency (VMF), comprehensivereadability index (CRI), and semantic prosody. The empirical results demonstrate that: (1) the CALRis significantly higher in the greenwashing group but lower in the green-hushing group compared tothe control; (2) vague modifiers appear with a significantly higher density in the greenwashing group,functioning as a key marker of verbal inflation; (3) green-hushing reports display a significantly lowerCRI, indicating strategic obfuscation. This study integrates both strategies into a unified "ESGcommunication continuum" framework, identifying "discursive deviation from performance" as itscore dimension. The findings remain robust after controlling for industry endogeneity and reportlength, offering operational screening indicators for regulatory surveillance under mandatory disclosure regimes.

Keywords: greenwashing; green hushing; ESG reporting; discourse analysis; corpus linguistics;impression management

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