The impact of corporate environmental management on the cost of debt financing: evidence from Europe, Japan and Australia.

Detalhes bibliográficos
Autor(a) principal: Hansen, Florian
Data de Publicação: 2018
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/36556
Resumo: This study investigates the impact of the corporate environmental management on firms’ cost of debt financing. Using environmental scores issued by Thomas Reuters on 138 firms in Europe from 2007 to 2016, I find that environmental performance has a negative relationship with the cost of debt financing. This relationship holds in Europe and for bonds whose maturity is higher than five years. However, the economic significance of this relationship is modest, suggesting that the environmental management has a minor influence on firms’ risk. Those results are robust to alternative model specifications and industry membership.
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spelling The impact of corporate environmental management on the cost of debt financing: evidence from Europe, Japan and Australia.EnvironmentCost of DebtEuropeJapanAustraliaDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis study investigates the impact of the corporate environmental management on firms’ cost of debt financing. Using environmental scores issued by Thomas Reuters on 138 firms in Europe from 2007 to 2016, I find that environmental performance has a negative relationship with the cost of debt financing. This relationship holds in Europe and for bonds whose maturity is higher than five years. However, the economic significance of this relationship is modest, suggesting that the environmental management has a minor influence on firms’ risk. Those results are robust to alternative model specifications and industry membership.Queiró, FranciscoRUNHansen, Florian2019-01-20T01:30:19Z2018-01-202018-01-20T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/36556TID:201862042enginfo:eu-repo/semantics/embargoedAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:20:00Zoai:run.unl.pt:10362/36556Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:30:33.577716Repositório 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 The impact of corporate environmental management on the cost of debt financing: evidence from Europe, Japan and Australia.
title The impact of corporate environmental management on the cost of debt financing: evidence from Europe, Japan and Australia.
spellingShingle The impact of corporate environmental management on the cost of debt financing: evidence from Europe, Japan and Australia.
Hansen, Florian
Environment
Cost of Debt
Europe
Japan
Australia
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short The impact of corporate environmental management on the cost of debt financing: evidence from Europe, Japan and Australia.
title_full The impact of corporate environmental management on the cost of debt financing: evidence from Europe, Japan and Australia.
title_fullStr The impact of corporate environmental management on the cost of debt financing: evidence from Europe, Japan and Australia.
title_full_unstemmed The impact of corporate environmental management on the cost of debt financing: evidence from Europe, Japan and Australia.
title_sort The impact of corporate environmental management on the cost of debt financing: evidence from Europe, Japan and Australia.
author Hansen, Florian
author_facet Hansen, Florian
author_role author
dc.contributor.none.fl_str_mv Queiró, Francisco
RUN
dc.contributor.author.fl_str_mv Hansen, Florian
dc.subject.por.fl_str_mv Environment
Cost of Debt
Europe
Japan
Australia
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Environment
Cost of Debt
Europe
Japan
Australia
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description This study investigates the impact of the corporate environmental management on firms’ cost of debt financing. Using environmental scores issued by Thomas Reuters on 138 firms in Europe from 2007 to 2016, I find that environmental performance has a negative relationship with the cost of debt financing. This relationship holds in Europe and for bonds whose maturity is higher than five years. However, the economic significance of this relationship is modest, suggesting that the environmental management has a minor influence on firms’ risk. Those results are robust to alternative model specifications and industry membership.
publishDate 2018
dc.date.none.fl_str_mv 2018-01-20
2018-01-20T00:00:00Z
2019-01-20T01:30:19Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/36556
TID:201862042
url http://hdl.handle.net/10362/36556
identifier_str_mv TID:201862042
dc.language.iso.fl_str_mv eng
language eng
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eu_rights_str_mv embargoedAccess
dc.format.none.fl_str_mv application/pdf
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