• Rupture de stock

Does Corporate Social Responsibility Have an Impact on Financing Decisions? [extrait BMI 136-137]

50,00 €
TTC
Quantité
Add to wishlist
Rupture de stock

Version numérique PDF

This paper examines whether corporate social responsibility (CSR) performance affects (i) capital structure and (ii) the size of equity issuances. Using a worldwide dataset of 6,589 firm-year observations, we find that (i) CSR performance negatively affects firms? leverage. We also show that (ii) high CSR firms issue a larger volume of equity and that such firms are less dependent on market conditions for their equity issuances. Overall, our results reveal that firms take into account the financial consequences of implementing CSR policies in their financing decisions.JEL Codes: G32; M14.Keywords: Corporate Social Responsibility; Capital Structure; Market Timing Theory; Information Asymmetry.

Auteurs :Pijourlet Guillaume
Extrait de la revue BMI 136-137

BMI136-137-1122489
Nouveau

16 autres produits dans la même catégorie :

This website uses cookies to ensure you get the best experience on our website