Long-term financial incentive of environmental responsibility -- socially responsible investing and firm cost of capital
"We investigate the long-term financial incentives of corporate environmental responsibility by examining whether an environmentally responsible firm benefits from a lower cost of equity capital, focusing on a particular channel: sustainable and responsible investing (SRI). Using treatment effe...
| Main Authors: | , , |
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| Institution: | ETUI-European Trade Union Institute |
| Format: | TEXT |
| Language: | English |
| Published: |
St. Paul
2016
AgEcon Search |
| Subjects: | |
| Online Access: | https://www.labourline.org/KENTIKA-19103163124919213459-Long-term-financial-incentive-.htm |
| _version_ | 1771659895798497281 |
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| author | Wang, Yanbing Delgado, Michael S. Xu, Jin |
| author_facet | Wang, Yanbing Delgado, Michael S. Xu, Jin |
| collection | Library items |
| description | "We investigate the long-term financial incentives of corporate environmental responsibility by examining whether an environmentally responsible firm benefits from a lower cost of equity capital, focusing on a particular channel: sustainable and responsible investing (SRI). Using treatment effect models, we test whether investments from SRI mutual funds with environmental screening criteria impact firm cost of equity capital. We find that accounting for interaction between firm and non-shareholder stakeholders, and potential agency costs associated with certain environmentally responsible activities of the firm, SRI investing may facilitate the alignment of firm environmental and financial goals." |
| format | TEXT |
| id | 19103163124919213459_5fc8952b5b34427aba7c04f276dc134d |
| institution | ETUI-European Trade Union Institute |
| is_hierarchy_id | 19103163124919213459_5fc8952b5b34427aba7c04f276dc134d |
| is_hierarchy_title | Long-term financial incentive of environmental responsibility -- socially responsible investing and firm cost of capital |
| language | English |
| physical | 43 p. Digital |
| publishDate | 2016 |
| publisher | St. Paul AgEcon Search |
| spellingShingle | Wang, Yanbing Delgado, Michael S. Xu, Jin conference paper corporate social responsibility environment sustainable development Long-term financial incentive of environmental responsibility -- socially responsible investing and firm cost of capital |
| thumbnail | https://www.labourline.org/Image_prev.jpg?Archive=106461392464 |
| title | Long-term financial incentive of environmental responsibility -- socially responsible investing and firm cost of capital |
| topic | conference paper corporate social responsibility environment sustainable development |
| url | https://www.labourline.org/KENTIKA-19103163124919213459-Long-term-financial-incentive-.htm |