Gobert, Karine; Poitevin, Michel - Centre Interuniversitaire de Recherche en Analyse des … - 1998
risk in an environment where banks cannot commit to refinance the firm in all circumstances. Following an environmental … and (2) exerting a pressure on a firm's stakeholders to incite it to invest in environmental risk prevention. We study the … more attractive to banks, therefore improving the firm's risk-sharing possibilities. Consequently, the firm's incentives to …