- Published
- 2021-03-11
- Venue
- Corporate Social Responsibility and Environmental Management, vol. 28, no. 4, pp. 1412-1421
- Cited by
- 559
- Open access
- No free copy found
- DOI
- 10.1002/csr.2134
Abstract
In recent years, greater attention has been paid to sustainability issues. Companies have received increasing pressure from stakeholders to adopt sustainable behavior and provide an adequate representation of sustainability practices. Nonfinancial disclosure has thus taken on a crucial role. In the academic field, several researchers have analyzed the effects of nonfinancial disclosure. However, limited attention has been paid to the impact of nonfinancial information on the cost of debt. This study aims at bridging this gap by analyzing the effect of ESG disclosure on the cost of debt. The fixed effects analysis conducted on a sample of 8264 observations (an unbalanced panel data of 919 firms for the period 2010–2019), shows a negative effect of the ESG disclosure on the cost of debt financing. The results demonstrate that companies with greater levels of transparency in the dissemination of ESG information benefit from accessing third party financial resources at better conditions.
Cite this paper
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- APA 7
Raimo, N., Caragnano, A., Zito, M., Vitolla, F., & Mariani, M. (2021). Extending the benefits of ESG disclosure: The effect on the cost of debt financing. Corporate Social Responsibility and Environmental Management, 28(4), 1412–1421. https://doi.org/10.1002/csr.2134
- MLA 9
Raimo, Nicola, et al. "Extending the benefits of ESG disclosure: The effect on the cost of debt financing." Corporate Social Responsibility and Environmental Management, vol. 28, no. 4, 2021, pp. 1412–1421, https://doi.org/10.1002/csr.2134.
- Chicago
Raimo, Nicola, Alessandra Caragnano, Marianna Zito, Filippo Vitolla, and Massimo Mariani. "Extending the benefits of ESG disclosure: The effect on the cost of debt financing." Corporate Social Responsibility and Environmental Management 28, no. 4 (2021): 1412–1421. https://doi.org/10.1002/csr.2134.
- GOST
Raimo N., Caragnano A., Zito M. [и др.] Extending the benefits of ESG disclosure: The effect on the cost of debt financing // Corporate Social Responsibility and Environmental Management. — 2021. — Vol. 28, № 4. — P. 1412–1421. — URL: https://doi.org/10.1002/csr.2134
- BibTeX
@article{raimo2021extending, title = {{Extending the benefits of ESG disclosure: The effect on the cost of debt financing}}, author = {Nicola Raimo and Alessandra Caragnano and Marianna Zito and Filippo Vitolla and Massimo Mariani}, journal = {Corporate Social Responsibility and Environmental Management}, year = {2021}, volume = {28}, number = {4}, pages = {1412--1421}, doi = {10.1002/csr.2134}, url = {https://doi.org/10.1002/csr.2134} }- RIS
TY - JOUR AU - Raimo, Nicola AU - Caragnano, Alessandra AU - Zito, Marianna AU - Vitolla, Filippo AU - Mariani, Massimo TI - Extending the benefits of ESG disclosure: The effect on the cost of debt financing JO - Corporate Social Responsibility and Environmental Management VL - 28 IS - 4 SP - 1412 EP - 1421 PY - 2021 DA - 2021/03/11 DO - 10.1002/csr.2134 UR - https://doi.org/10.1002/csr.2134 ER -
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