IDEAS home Printed from https://ideas.repec.org/a/bla/bstrat/v35y2026i4p5560-5576.html

The Impact of Sustainability Disclosure on Access to Capital: the Risk–Return Perspective

Author

Listed:
  • Raffaele Trequattrini
  • Benedetta Cuozzo
  • Federico Schimperna
  • Maria Schimperna

Abstract

This paper aims to analyze how companies that provide sustainability disclosure are considered regarding their risks by reducing informative asymmetries and analyzing the perspective of lenders and investors. After a literature review that showed not unanimous results, we developed an empirical analysis with a quantitative method on a sample of the Italian stock exchange's securities. The findings revealed how companies that carry out sustainability disclosure have better access to equity and a similar cost of credit than other companies. This difference also focuses on the average market cost of equity and credit. Additionally, filling a literature gap contributes to the body of knowledge about (i) the impact of sustainability disclosure on the cost of capital and risks and (ii) the relevance of increasing disclosure for the company. Practical implications are the following: (i) Companies are strongly encouraged to be socially and environmentally responsible; (ii) there is need to consider this factor in a company valuation.

Suggested Citation

  • Raffaele Trequattrini & Benedetta Cuozzo & Federico Schimperna & Maria Schimperna, 2026. "The Impact of Sustainability Disclosure on Access to Capital: the Risk–Return Perspective," Business Strategy and the Environment, Wiley Blackwell, vol. 35(4), pages 5560-5576, May.
    • Handle: RePEc:bla:bstrat:v:35:y:2026:i:4:p:5560-5576
    DOI: 10.1002/bse.70468
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/bse.70468
    Download Restriction: no
    File URL: https://libkey.io/10.1002/bse.70468?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:bstrat:v:35:y:2026:i:4:p:5560-5576. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1099-0836 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.