Based on a survey of 2215 French investors, this study examines the impact of greenwashing perception on individual investment decisions. Our findings reveal that greenwashing perception is negatively related to green investing. Specifically, A one-point increase in greenwashing reduces investment likelihood by 1.68 percentage points. This perception discourages traditional investors from considering green funds and dissuades existing green investors from increasing their green investments. Moreover, consistent with negativity bias, low perceptions of greenwashing have no positive effect on green investments, while high perceptions negatively affect them by triggering negative emotions that heighten risk perception and deter green investment.

中文翻译：

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当绿色变成红色时：漂绿的看法是否阻碍了个人绿色投资？

基于对 2215 名法国投资者的调查，本研究考察了漂绿感知对个人投资决策的影响。我们的研究结果表明，漂绿感知与绿色投资呈负相关。具体来说，漂绿行为每增加 1 个百分点，投资可能性就会降低 1.68 个百分点。这种看法使传统投资者不敢考虑绿色基金，并阻止现有的绿色投资者增加绿色投资。此外，与消极偏见一致，对漂绿的低认知对绿色投资没有积极影响，而高认知则通过触发负面情绪对绿色投资产生负面影响，从而增强风险感知并阻止绿色投资。