Téléchargez le livre : The Influence of ESG on Credit Risk

The Influence of ESG on Credit Risk

An Analysis of European Corporate Bonds

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Éditeur :

Springer


Paru le : 2025-11-15



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Description

The increasing relevance of ESG (Environmental, Social, and Governance) in financial research and practice is driven by materiality, investor demand, and regulatory developments. Since ESG initiatives often entail (high) costs for companies, the question arises whether such investments “pay off” in terms of higher performance or lower risk. Previous research has primarily focused on the shareholder value perspective. More recent studies examine ESG from a risk perspective, mainly equity-based. However, studies exploring the relationship between ESG and credit risk remain scarce, especially in the European context. From a principal-agent theory perspective, it can be assumed that creditors evaluate ESG investments differently than owners. Creditors are primarily concerned with the servicing of their claims from the company’s cash flow and generally favor less risky investments. The aim of this study is to provide a comprehensive overview of the existing empirical literature and to expand it through an original empirical investigation.
Pages
238 pages
Collection
n.c
Parution
2025-11-15
Marque
Springer
EAN papier
9783658490898
EAN PDF
9783658490904
Informations sur l'ebook
Nombre pages copiables
2
Nombre pages imprimables
23
Taille du fichier
10967 Ko
Ce livre est accessible aux handicaps Voir les informations sur l'accessibilité
Prix
116,59 €
EAN EPUB
9783658490904
Informations sur l'ebook
Nombre pages copiables
2
Nombre pages imprimables
23
Taille du fichier
4547 Ko
Ce livre est accessible aux handicaps Voir les informations sur l'accessibilité
Prix
116,59 €

Dr. Anna Gappmaier works at the Department of Corporate Finance, at Johannes Kepler University Linz. Her research focuses on issues related to sustainability and ESG from a corporate finance perspective.

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