Carbon Emissions and Debt Maturity Structure: Do ESG Controversies Matter?

被引：0

作者：

Brinette, Souad ^{[1
]}

Khemiri, Sabrina ^{[2
]}

Tourus, Pinar Sener ^{[3
]}

机构：

[1] EDC Paris Business Sch, Finance & Accounting, Paris, France

[2] Inst Mines Telecom Business Sch, Corp Finance, Evry Courcouronnes, France

[3] ESSCA Sch Management, Finance & Accounting, Angers, France

来源：

JOURNAL OF ALTERNATIVE INVESTMENTS | 2024年 / 27卷 / 01期

关键词：

CORPORATE SOCIAL-RESPONSIBILITY; COST; RISK; MISCONDUCT; QUALITY; CSR;

D O I：

暂无

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study investigates the impact of carbon emissions on a firm's debt maturity structure and the role of ESG controversies on this dynamic. Analyzing a sample comprising firms listed on the FTSE 250 from 2012 to 2021, the results indicate that firms with lower carbon -emissions benefit from a longer debt maturity, due to lower perceived risk than firms with higher carbon -emissions. The study further highlights that ESG controversies exacerbate the effect of carbon emissions on debt maturity. These findings should motivate firms to advance their decarbonization efforts, consequently leading to significant economic benefits.

引用

页数：176

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