Corporate Social Responsibility and Credit Risk

Autor:	Björn Rock, Christina E. Bannier, Yannik Bofinger
Rok vydání:	2020
Předmět:	Credit rating business.industry Sustainability Corporate social responsibility Accounting Business Estimation methods Credit risk
Zdroj:	SSRN Electronic Journal.
ISSN:	1556-5068
DOI:	10.2139/ssrn.3686025
Popis:	We study the effects of corporate social responsibility on credit risk for U.S. and European firms over the period 2003 to 2018. Differentiating between the various facets of corporate social responsibility shows that only environmental aspects reduce different measures of credit risk for U.S. firms, whereas both environmental and social aspects do so for European firms. Surprisingly, we find that credit ratings do not reflect these credit-risk reducing effects of corporate social responsibility. Our results are robust against different estimation methods.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::36c16d6944870bafef27d053808f0d4c https://doi.org/10.2139/ssrn.3686025 Zobrazit plný text záznamu