XF-XZM28CL-M The Effects of Corporate Social Performance on the Cost of Corporate Debt and Credit Ratings
Abstract
Abstract This study investigates the differential impact that various dimensions of corporate social performance have on the pricing of corporate debt as well as the assessment of the credit quality of specific bond issues. The empirical analysis, based on an extensive longitudinal data set, suggests that overall, good performance is rewarded and corporate social transgressions are penalized through lower and higher corporate bond yield spreads, respectively. Similar conclusions can be drawn when focusing on either the bond rating assigned to a specific debt issue or the probability of it being considered to be an asset of speculative grade.
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How to Cite This Record
Use the XFID in citations to create a stable, permanent reference that resolves to this registry entry regardless of the source URL.
Wiley (Business Strategy and the Environment) (2014). The Effects of Corporate Social Performance on the Cost of Corporate Debt and Credit Ratings. XFID: XF-XZM28CL-M. Retrieved from https://xframework.id/XFXZM28CLM
XF-XZM28CL-M