Corporate Social Responsibility and Maturity Mismatch of Investment and Financing: Evidence from Polluting and Non-Polluting Companies
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Outros Autores: | , , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.22/19263 |
Resumo: | We investigate the influence of corporate social responsibility (CSR) on the maturity mismatch of investment and financing from the perspective of both polluting and non-polluting companies. The results reveal that CSR performance can aggravate the maturity mismatch of investment and financing; and the effect can be more serious in the polluting companies. At the same time, we find that CSR makes companies obtain more short-term debt. What is more, polluting companies perform more environmental responsibilities in the form of long-term investments than non-polluting companies. These phenomena exacerbate the maturity mismatch of investment and financing; and this effect is only significant when polluting companies choose CSR mandatory disclosure. The impact of CSR on the maturity mismatch of investment and financing is more apparent in companies with lower value and at smaller scales. We show that companies should not only perform their CSR to maintain a balanced economic and ecological development, but also pay attention to the aggravation of the maturity mismatch of investment and financing. |
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Corporate Social Responsibility and Maturity Mismatch of Investment and Financing: Evidence from Polluting and Non-Polluting CompaniesCorporate social responsibilityMaturity mismatch of investment and financingPolluting companyWe investigate the influence of corporate social responsibility (CSR) on the maturity mismatch of investment and financing from the perspective of both polluting and non-polluting companies. The results reveal that CSR performance can aggravate the maturity mismatch of investment and financing; and the effect can be more serious in the polluting companies. At the same time, we find that CSR makes companies obtain more short-term debt. What is more, polluting companies perform more environmental responsibilities in the form of long-term investments than non-polluting companies. These phenomena exacerbate the maturity mismatch of investment and financing; and this effect is only significant when polluting companies choose CSR mandatory disclosure. The impact of CSR on the maturity mismatch of investment and financing is more apparent in companies with lower value and at smaller scales. We show that companies should not only perform their CSR to maintain a balanced economic and ecological development, but also pay attention to the aggravation of the maturity mismatch of investment and financing.The paper was supported by the following fund project: General project of philosophy and social science research of the Ministry of Education (project no. 18JHQ083).MDPIRepositório Científico do Instituto Politécnico do PortoBao, XiaolanLuo, QiaoshengLi, SichengCrabbe, M. James C.Yue, XiaoGuang2022-01-03T15:03:46Z20202020-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.22/19263eng10.3390/su12124972info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-13T13:13:15Zoai:recipp.ipp.pt:10400.22/19263Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:39:18.252977Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Corporate Social Responsibility and Maturity Mismatch of Investment and Financing: Evidence from Polluting and Non-Polluting Companies |
title |
Corporate Social Responsibility and Maturity Mismatch of Investment and Financing: Evidence from Polluting and Non-Polluting Companies |
spellingShingle |
Corporate Social Responsibility and Maturity Mismatch of Investment and Financing: Evidence from Polluting and Non-Polluting Companies Bao, Xiaolan Corporate social responsibility Maturity mismatch of investment and financing Polluting company |
title_short |
Corporate Social Responsibility and Maturity Mismatch of Investment and Financing: Evidence from Polluting and Non-Polluting Companies |
title_full |
Corporate Social Responsibility and Maturity Mismatch of Investment and Financing: Evidence from Polluting and Non-Polluting Companies |
title_fullStr |
Corporate Social Responsibility and Maturity Mismatch of Investment and Financing: Evidence from Polluting and Non-Polluting Companies |
title_full_unstemmed |
Corporate Social Responsibility and Maturity Mismatch of Investment and Financing: Evidence from Polluting and Non-Polluting Companies |
title_sort |
Corporate Social Responsibility and Maturity Mismatch of Investment and Financing: Evidence from Polluting and Non-Polluting Companies |
author |
Bao, Xiaolan |
author_facet |
Bao, Xiaolan Luo, Qiaosheng Li, Sicheng Crabbe, M. James C. Yue, XiaoGuang |
author_role |
author |
author2 |
Luo, Qiaosheng Li, Sicheng Crabbe, M. James C. Yue, XiaoGuang |
author2_role |
author author author author |
dc.contributor.none.fl_str_mv |
Repositório Científico do Instituto Politécnico do Porto |
dc.contributor.author.fl_str_mv |
Bao, Xiaolan Luo, Qiaosheng Li, Sicheng Crabbe, M. James C. Yue, XiaoGuang |
dc.subject.por.fl_str_mv |
Corporate social responsibility Maturity mismatch of investment and financing Polluting company |
topic |
Corporate social responsibility Maturity mismatch of investment and financing Polluting company |
description |
We investigate the influence of corporate social responsibility (CSR) on the maturity mismatch of investment and financing from the perspective of both polluting and non-polluting companies. The results reveal that CSR performance can aggravate the maturity mismatch of investment and financing; and the effect can be more serious in the polluting companies. At the same time, we find that CSR makes companies obtain more short-term debt. What is more, polluting companies perform more environmental responsibilities in the form of long-term investments than non-polluting companies. These phenomena exacerbate the maturity mismatch of investment and financing; and this effect is only significant when polluting companies choose CSR mandatory disclosure. The impact of CSR on the maturity mismatch of investment and financing is more apparent in companies with lower value and at smaller scales. We show that companies should not only perform their CSR to maintain a balanced economic and ecological development, but also pay attention to the aggravation of the maturity mismatch of investment and financing. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020 2020-01-01T00:00:00Z 2022-01-03T15:03:46Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.22/19263 |
url |
http://hdl.handle.net/10400.22/19263 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.3390/su12124972 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
MDPI |
publisher.none.fl_str_mv |
MDPI |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799131481009815552 |