Extra-Financial Disclosure And The Cost Of Debt Of Big French Companies
AbstractThe literature shows that there is a lack of studies concerning the relationship between corporate social responsibility and cost of debt in the French context. To participate in filling this gap, we present this work seeking to investigate the relationship between non-financial disclosure and the cost of debt of 202 big French companies from 2000 to 2010. Results of the empirical study show that there is no explicit relation between the social reporting and the cost of debt but when adding size and age as control variables, this relation tends to be negative.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Faculty of Management, Academy of Economic Studies, Bucharest, Romania in its journal Business Excellence and Management.
Volume (Year): 3 (2013)
Issue (Month): 4 (December)
Corporate social responsibility; Extra-financial divulgation; Cost of debt;
Find related papers by JEL classification:
- M19 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Other
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Roberts, Robin W., 1992. "Determinants of corporate social responsibility disclosure: An application of stakeholder theory," Accounting, Organizations and Society, Elsevier, vol. 17(6), pages 595-612, August.
- Valeri Nikolaev & Laurence van Lent, 2005. "The endogeneity bias in the relation between cost-of-debt capital and corporate disclosure policy," European Accounting Review, Taylor & Francis Journals, Taylor & Francis Journals, vol. 14(4), pages 677-724.
- Hong, Harrison & Kacperczyk, Marcin, 2009. "The price of sin: The effects of social norms on markets," Journal of Financial Economics, Elsevier, Elsevier, vol. 93(1), pages 15-36, July.
- Goss, Allen & Roberts, Gordon S., 2011. "The impact of corporate social responsibility on the cost of bank loans," Journal of Banking & Finance, Elsevier, Elsevier, vol. 35(7), pages 1794-1810, July.
- Douglas W. Diamond, 1998.
"Reputation Acquisition in Debt Markets,"
Levine's Working Paper Archive
602, David K. Levine.
- Diamond, Douglas W, 1989. "Reputation Acquisition in Debt Markets," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 97(4), pages 828-62, August.
- Sanjeev Bhojraj & Partha Sengupta, 2003. "Effect of Corporate Governance on Bond Ratings and Yields: The Role of Institutional Investors and Outside Directors," The Journal of Business, University of Chicago Press, University of Chicago Press, vol. 76(3), pages 455-476, July.
- Carter, Richard B & Manaster, Steven, 1990. " Initial Public Offerings and Underwriter Reputation," Journal of Finance, American Finance Association, American Finance Association, vol. 45(4), pages 1045-67, September.
- Nikolaev, V. & Lent, L.A.G.M. van, 2005. "The Endogeneity Bias in the Relation Between Cost-of-Debt Capital and Corporate Disclosure Policy," Discussion Paper, Tilburg University, Center for Economic Research 2005-67, Tilburg University, Center for Economic Research.
- Anderson, Ronald C. & Mansi, Sattar A. & Reeb, David M., 2004. "Board characteristics, accounting report integrity, and the cost of debt," Journal of Accounting and Economics, Elsevier, Elsevier, vol. 37(3), pages 315-342, September.
- Merton, Robert C., 1987.
"A simple model of capital market equilibrium with incomplete information,"
Working papers, Massachusetts Institute of Technology (MIT), Sloan School of Management
1869-87., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Merton, Robert C, 1987. " A Simple Model of Capital Market Equilibrium with Incomplete Information," Journal of Finance, American Finance Association, American Finance Association, vol. 42(3), pages 483-510, July.
- Nikolaev, V. & Lent, L.A.G.M. van, 2005. "The endogeneity bias in the relation between cost-of-debt capital and corporate disclosure policy," Open Access publications from Tilburg University, Tilburg University urn:nbn:nl:ui:12-173779, Tilburg University.
- Ritter, Jay R, 1991. " The Long-run Performance of Initial Public Offerings," Journal of Finance, American Finance Association, American Finance Association, vol. 46(1), pages 3-27, March.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zamfir Andreea).
If references are entirely missing, you can add them using this form.