{"id":"https://openalex.org/W4408938136","doi":"https://doi.org/10.3390/risks13040064","title":"Do Board Characteristics Matter with Greenwashing? An Investigation in the Financial Sector with the Integration of Entropy Weight and TOPSIS Multicriteria Decision-Making Methods","display_name":"Do Board Characteristics Matter with Greenwashing? An Investigation in the Financial Sector with the Integration of Entropy Weight and TOPSIS Multicriteria Decision-Making Methods","publication_year":2025,"publication_date":"2025-03-27","ids":{"openalex":"https://openalex.org/W4408938136","doi":"https://doi.org/10.3390/risks13040064"},"language":"en","primary_location":{"id":"doi:10.3390/risks13040064","doi":"https://doi.org/10.3390/risks13040064","is_oa":true,"landing_page_url":"https://doi.org/10.3390/risks13040064","pdf_url":null,"source":{"id":"https://openalex.org/S4210214252","display_name":"Risks","issn_l":"2227-9091","issn":["2227-9091"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["anvur-scientific","cwts-core","doaj","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Risks","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://doi.org/10.3390/risks13040064","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5116609586","display_name":"Eleni Poiriazi","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I89506807","display_name":"University of Western Macedonia","ror":"https://ror.org/00a5pe906","country_code":"GR","type":"education","lineage":["https://openalex.org/I89506807"]}],"countries":["GR"],"is_corresponding":false,"raw_author_name":"Eleni Poiriazi","raw_affiliation_strings":["Department of Business Administration, University of Western Macedonia, 51 100 Grevena, Greece"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Business Administration, University of Western Macedonia, 51 100 Grevena, Greece","institution_ids":["https://openalex.org/I89506807"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5091967351","display_name":"\u0393\u03b5\u03c9\u03c1\u03b3\u03af\u03b1 \u0396\u03bf\u03c5\u03c1\u03bd\u03b1\u03c4\u03b6\u03af\u03b4\u03bf\u03c5","orcid":"https://orcid.org/0009-0000-8193-4224","observed_orcids":["https://orcid.org/0009-0000-8193-4224"]},"institutions":[{"id":"https://openalex.org/I89506807","display_name":"University of Western Macedonia","ror":"https://ror.org/00a5pe906","country_code":"GR","type":"education","lineage":["https://openalex.org/I89506807"]}],"countries":["GR"],"is_corresponding":false,"raw_author_name":"Georgia Zournatzidou","raw_affiliation_strings":["Department of Business Administration, University of Western Macedonia, 51 100 Grevena, Greece"],"raw_orcid":"https://orcid.org/0009-0000-8193-4224","affiliations":[{"raw_affiliation_string":"Department of Business Administration, University of Western Macedonia, 51 100 Grevena, Greece","institution_ids":["https://openalex.org/I89506807"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5025683934","display_name":"George Konteos","orcid":"https://orcid.org/0000-0002-0634-9612","observed_orcids":["https://orcid.org/0000-0002-0634-9612","https://orcid.org/0000-0002-3564-8590"]},"institutions":[{"id":"https://openalex.org/I89506807","display_name":"University of Western Macedonia","ror":"https://ror.org/00a5pe906","country_code":"GR","type":"education","lineage":["https://openalex.org/I89506807"]}],"countries":["GR"],"is_corresponding":false,"raw_author_name":"George Konteos","raw_affiliation_strings":["Department of Business Administration, University of Western Macedonia, 51 100 Grevena, Greece"],"raw_orcid":"https://orcid.org/0000-0002-0634-9612","affiliations":[{"raw_affiliation_string":"Department of Business Administration, University of Western Macedonia, 51 100 Grevena, Greece","institution_ids":["https://openalex.org/I89506807"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I89506807"],"apc_list":{"value":1800,"currency":"CHF","value_usd":2172},"apc_paid":{"value":1800,"currency":"CHF","value_usd":2172},"fwci":5.3688,"has_fulltext":false,"cited_by_count":6,"citation_normalized_percentile":{"value":0.94586928,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":98,"max":99},"biblio":{"volume":"13","issue":"4","first_page":"64","last_page":"64"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10115","display_name":"Corporate Social Responsibility Reporting","score":0.8666999936103821,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10115","display_name":"Corporate Social Responsibility Reporting","score":0.8666999936103821,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13146","display_name":"Sustainable Finance and Green Bonds","score":0.08649999648332596,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.01269999984651804,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/greenwashing","display_name":"greenwashing","score":0.9919999837875366},{"id":"https://openalex.org/keywords/board-characteristics","display_name":"board characteristics","score":0.7059999704360962},{"id":"https://openalex.org/keywords/board-of-directors","display_name":"board of directors","score":0.8159999847412109},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"corporate governance","score":0.8159999847412109},{"id":"https://openalex.org/keywords/financial-institutions","display_name":"financial institutions","score":0.8970000147819519},{"id":"https://openalex.org/keywords/board-size","display_name":"board size","score":0.8320000171661377},{"id":"https://openalex.org/keywords/board-effectiveness","display_name":"board effectiveness","score":0.7549999952316284},{"id":"https://openalex.org/keywords/conflict-of-interest","display_name":"conflicts of interest","score":0.9869999885559082},{"id":"https://openalex.org/keywords/sustainability-reporting","display_name":"sustainability reporting","score":0.5},{"id":"https://openalex.org/keywords/listed-companies","display_name":"listed companies","score":0.4749999940395355}],"concepts":[{"id":"https://openalex.org/C51566761","wikidata":"https://www.wikidata.org/wiki/Q1235853","display_name":"TOPSIS","level":2,"score":0.7770015001296997},{"id":"https://openalex.org/C106301342","wikidata":"https://www.wikidata.org/wiki/Q4117933","display_name":"Entropy (arrow of time)","level":2,"score":0.5332092046737671},{"id":"https://openalex.org/C2778815883","wikidata":"https://www.wikidata.org/wiki/Q983063","display_name":"Greenwashing","level":3,"score":0.5285657644271851},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3961653709411621},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.3664817214012146},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3390757441520691},{"id":"https://openalex.org/C42475967","wikidata":"https://www.wikidata.org/wiki/Q194292","display_name":"Operations research","level":1,"score":0.2988763153553009},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.24226322770118713},{"id":"https://openalex.org/C141261163","wikidata":"https://www.wikidata.org/wiki/Q218600","display_name":"Corporate social responsibility","level":2,"score":0.12129560112953186},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.09080949425697327},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.07859504222869873},{"id":"https://openalex.org/C39549134","wikidata":"https://www.wikidata.org/wiki/Q133080","display_name":"Public relations","level":1,"score":0.06455385684967041},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.3390/risks13040064","doi":"https://doi.org/10.3390/risks13040064","is_oa":true,"landing_page_url":"https://doi.org/10.3390/risks13040064","pdf_url":null,"source":{"id":"https://openalex.org/S4210214252","display_name":"Risks","issn_l":"2227-9091","issn":["2227-9091"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["anvur-scientific","cwts-core","doaj","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Risks","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:gam:jrisks:v:13:y:2025:i:4:p:64-:d:1622005","doi":null,"is_oa":false,"landing_page_url":"https://www.mdpi.com/2227-9091/13/4/64/","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:doaj.org/article:615a25c666a54611b89cb34d592130ff","doi":null,"is_oa":true,"landing_page_url":"https://doaj.org/article/615a25c666a54611b89cb34d592130ff","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Risks, Vol 13, Iss 4, p 64 (2025)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.3390/risks13040064","doi":"https://doi.org/10.3390/risks13040064","is_oa":true,"landing_page_url":"https://doi.org/10.3390/risks13040064","pdf_url":null,"source":{"id":"https://openalex.org/S4210214252","display_name":"Risks","issn_l":"2227-9091","issn":["2227-9091"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["anvur-scientific","cwts-core","doaj","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Risks","raw_type":"journal-article"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/12","display_name":"Responsible consumption and production","score":0.5925999879837036}],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":51,"referenced_works":["https://openalex.org/W2179496157","https://openalex.org/W2336234822","https://openalex.org/W2995174471","https://openalex.org/W3003405602","https://openalex.org/W3118333132","https://openalex.org/W3174751705","https://openalex.org/W4220959283","https://openalex.org/W4280536652","https://openalex.org/W4315786100","https://openalex.org/W4361011471","https://openalex.org/W4382797868","https://openalex.org/W4386171483","https://openalex.org/W4388511784","https://openalex.org/W4390242712","https://openalex.org/W4391352448","https://openalex.org/W4391383418","https://openalex.org/W4392888192","https://openalex.org/W4393072491","https://openalex.org/W4393931352","https://openalex.org/W4394833193","https://openalex.org/W4396584055","https://openalex.org/W4397292450","https://openalex.org/W4398177610","https://openalex.org/W4398201992","https://openalex.org/W4398722123","https://openalex.org/W4399699195","https://openalex.org/W4400062071","https://openalex.org/W4400073318","https://openalex.org/W4400077453","https://openalex.org/W4400616875","https://openalex.org/W4401014178","https://openalex.org/W4401502584","https://openalex.org/W4401964467","https://openalex.org/W4402032626","https://openalex.org/W4402205450","https://openalex.org/W4402943274","https://openalex.org/W4403042394","https://openalex.org/W4403089826","https://openalex.org/W4403097708","https://openalex.org/W4403188836","https://openalex.org/W4403352834","https://openalex.org/W4403941316","https://openalex.org/W4404592412","https://openalex.org/W4404623642","https://openalex.org/W4404657186","https://openalex.org/W4405037604","https://openalex.org/W4405122827","https://openalex.org/W4405436224","https://openalex.org/W4405531813","https://openalex.org/W4405844474","https://openalex.org/W4406247930"],"related_works":["https://openalex.org/W4391375266","https://openalex.org/W2355511198","https://openalex.org/W2744391954","https://openalex.org/W2359284531","https://openalex.org/W2127368611","https://openalex.org/W2367235275","https://openalex.org/W2355331022","https://openalex.org/W1763219791","https://openalex.org/W2116479904","https://openalex.org/W1990321825"],"abstract_inverted_index":{"Financial":[0],"industry":[1],"executives":[2,35],"are":[3,166],"sincerely":[4],"concerned":[5],"about":[6,98],"the":[7,24,32,40,63,68,84,91,99,113,122,128,139,155,170,177,185],"potential":[8],"effects":[9,41],"of":[10,18,26,42,49,94,124,131,150,163,179],"greenwashing":[11,30,132,145,151],"on":[12,29,105,169],"their":[13,103],"organizations.":[14],"The":[15,72,107,148,172],"primary":[16,114],"objective":[17],"this":[19],"research":[20,182],"is":[21,112,146],"to":[22,38,82],"investigate":[23],"impact":[25,104],"board":[27,123,142,159],"features":[28],"and":[31,75,102,144,161],"strategies":[33],"that":[34,110,121,138],"may":[36,175],"develop":[37],"mitigate":[39],"corporate":[43],"washing":[44],"phenomena.":[45],"A":[46],"novel":[47],"set":[48],"criteria":[50,97],"was":[51],"evaluated":[52],"for":[53,67,157],"359":[54],"listed":[55,167],"European":[56],"financial":[57,134],"institutions.":[58],"Data":[59],"were":[60,80],"acquired":[61],"from":[62],"Refinitiv":[64],"Eikon":[65],"database":[66],"Fiscal":[69],"Year":[70],"2024.":[71],"entropy":[73],"weight":[74],"TOPSIS":[76],"multicriteria":[77],"decision-making":[78],"methodologies":[79],"used":[81],"assess":[83],"data.":[85],"These":[86],"assist":[87],"us":[88],"in":[89,184],"determining":[90],"relative":[92],"importance":[93],"each":[95],"chosen":[96],"board\u2019s":[100],"attributes":[101],"greenwashing.":[106,117],"study":[108,173],"indicates":[109],"governance":[111],"factor":[115],"affecting":[116],"Furthermore,":[118],"findings":[119],"indicate":[120],"directors":[125],"significantly":[126],"influences":[127],"increased":[129],"prevalence":[130],"among":[133],"firms.":[135],"This":[136],"suggests":[137],"relationship":[140],"between":[141],"size":[143],"debatable.":[147],"problem":[149],"has":[152],"primarily":[153],"elevated":[154],"standards":[156],"evaluating":[158],"effectiveness":[160],"conflicts":[162],"interest,":[164],"which":[165],"third":[168],"list.":[171],"results":[174],"inform":[176],"establishment":[178],"a":[180],"new":[181],"agenda":[183],"examined":[186],"area.":[187]},"counts_by_year":[{"year":2026,"cited_by_count":6}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2025-10-10T00:00:00"}
