ESG information disclosure, industrial policy support, debt financing costs

被引：10

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

来源：

FINANCE RESEARCH LETTERS | 2024年 / 66卷

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

页数：7