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Corporate Social Responsibility and Firms’ Cost of Equity : How Does Culture Matter?

Matthiesen, Marie-Louise - 2017

The paper examines the relationship between CSR and cost of equity in an in-ternational context assessing the moderating effect of culture on the relation between CSR and the cost of equity. We use an international sample of 42 countries, and company-level data from 2002-2013, to address...

Persistent link: https://www.econbiz.de/10012971826

Carbon Intensity and the Cost of Equity Capital

Trinks, Arjan - 2020

The transition from high- to lower-carbon production systems increasingly creates regulatory and market risks for high-emitting firms. We test to which extent financial investors demand a premium to compensate for such risks and thus might raise firms' cost of equity capital (CoE). Using data...

Persistent link: https://www.econbiz.de/10012853766

Investor Relations and Stakeholder Communications (IRSC) and Cost of Debt and Equity Capital

Bhabra, Harjeet S - 2020

In this study, we examine whether firms' engagement in Investor Relations and Stakeholder Communication (IRSC) activities reduce the cost of information asymmetry at the time of external financing. We also analyze the intermediary role of financing source (debt vs equity) and the existing level...

Persistent link: https://www.econbiz.de/10012843839

Media, Reputational Risk, and Bank Loan Contracting

Becchetti, Leonardo; Hasan, Iftekhar; Manfredonia, Stefano - 2021

This paper investigates how reputational risk arising from traditional and online media coverage of Corporate Social Irresponsibility (CSI) conducts affects the cost of borrowing. It reports that negative media attention has a significant and positive effect on bank loan costs. The result is...

Persistent link: https://www.econbiz.de/10013242489

Media, Reputational Risk, and Bank Loan Contracting

Becchetti, Leonardo; Manfredonia, Stefano - 2021

Persistent link: https://www.econbiz.de/10013211843

Firm Reputation and the Cost of Debt Capital

Anginer, Deniz - 2019

We examine the relation between firm reputation and the cost of debt financing. We posit that corporate reputation … magazine's survey of company reputation while controlling for the impact of firm-level variables, we find an inverse relation … between a company's reputation and its bond (bank loan) credit spreads. We also find that firms with high reputation face less …

Persistent link: https://www.econbiz.de/10012905872

Firm Reputation and the Cost of Debt Capital

Anginer, Deniz - 2017

We examine the relation between firm reputation and the cost of debt financing. We posit that corporate reputation … magazine's survey of company reputation, we find an inverse relation between a company's reputation and its bond credit spreads …. We also find that firms with high reputation face less stringent covenants. Further testing shows that bad reputation is …

Persistent link: https://www.econbiz.de/10012975361

Firm Reputation and the Cost of Bank Debt

Wang, Ye (Emma) - 2020

This paper examines whether firm reputation impacts borrowing costs and thus investment. Using unique data from Fortune … reputation measures removing the impact of prior financial performance. Further evidence suggests that banks reward reputable … firms with better contract terms because this reputation proxy contains incremental information on borrower future …

Persistent link: https://www.econbiz.de/10012848288

Mixed signals : investment distortions with adverse selection

Darst, R. Matthew; Refayet, Ehraz - 2019

We study how adverse selection distorts equilibrium investment allocations in a Walrasian credit market with two-sided heterogeneity. Representative investor and partial equilibrium economies are special cases where investment allocations are distorted above perfect information allocations. By...

Persistent link: https://www.econbiz.de/10012181247

Lying to appear honest

Barron, Kai - 2019

This paper studies individual truth-telling behavior in the presence of multiple lying opportunities with heterogeneous stake sizes. The results show that individuals lie downwards (i.e. forgo money due to their lie) in low-stakes situations in order to signal honesty, and thereby mitigate the...

Persistent link: https://www.econbiz.de/10012111150