Greenwashing and financial performance in public health firms: the mechanism of organizational legitimacy erosion

By analyzing the indirect pathways through which greenwashing influences firm performance, this research advances theoretical discourse on corporate environmental accountability and legitimacy-based performance dynamics. Furthermore, the study offers actionable insights for public health enterprises, emphasizing the necessity of transparent and verifiable environmental communication to mitigate reputational risks and ensure sustainable financial outcomes. Additionally, it provides empirical evidence to inform policymakers in refining regulatory frameworks that enhance transparency in environmental reporting and foster substantive sustainability practices.