企业ESG表现对债务成本的影响研究
A Study of the Impact of Corporate ESG Performance on the Cost of Debt
DOI: 10.12677/FIA.2023.121008, PDF,  被引量   
作者: 王子强：北方工业大学经济管理学院，北京
关键词: ESG表现；债务成本；企业异质性； ESG Performance； Cost of Debt； Firm Heterogeneity
摘要: 目前，企业ESG投资已成为企业重要的投资领域。本文基于我国A股非金融上市公司2015~2020年的年度数据，分析企业ESG表现对其债务成本的影响，研究发现：企业ESG表现对其债务成本有显著正向影响。在异质性分析中进一步发现ESG表现对其债务成本的正向影响对于国有企业和非污染行业的企业更为明显。
Abstract: Recently, corporate ESG investment has become an important investment field. Based on the annual data of Chinese A-share non-financial listed companies from 2015 to 2020, this paper sets out to analyze the impact of corporate ESG performance on its cost of debt and finds that corporate ESG performance has a significant positive impact on its cost of debt. In the heterogeneity analysis, it is found that the positive influence of ESG performance on the cost of debt is more obvious for state-owned enterprises and corporate in non-polluting industries.
文章引用：王子强. 企业ESG表现对债务成本的影响研究[J]. 国际会计前沿, 2023, 12(1): 59-70. https://doi.org/10.12677/FIA.2023.121008

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