ESG information disclosure, industrial policy support, debt financing costs

被引:6
|
作者
He, Liying [1 ]
Ismail, Kamisah [2 ]
机构
[1] Henan Inst Sci & Technol, Finance Dept, Xinxiang 453000, Peoples R China
[2] Univ Malaya, Fac Business & Econ, Dept Accounting, Kuala Lumpur, Malaysia
关键词
ESG information disclosure; Industrial policy support; Debt costss; Information asymmetry; Heterogeneity;
D O I
10.1016/j.frl.2024.105630
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
This study uses the data of Chinese listed companies from 2011 to 2022 as a sample for empirical analysis. The results show that ESG information disclosure can significantly reduce the cost of corporate debt financing, and 15.48 % of the utility is achieved by reducing the information asymmetry between enterprises and creditors. In addition, the debt costs of enterprises supported by non-industrial policies is more sensitive to ESG information disclosure. In the process of reducing debt costs supported by non-industrial policies, enterprises need to focus on ESG practice and improve the rating of ESG information disclosure.
引用
收藏
页数:7
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