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Communication environnementale des entreprises du SBF120 : déterminants et conséquences sur le coût du capital actions


  • Frédérique Déjean
  • Isabelle Martinez


What is the impact of corporate environmental disclosure on the cost of capital?? In this research, we try to answer this question. The empirical research is based on companies listed at the SBF 120. In 2006, most of these companies dedicated a part of their annual report to sustainable development while less than 20?% of them disclose a specific report dedicated only to sustainable development. Whatever the support, the environmental themes the most frequently disclosed are pollution, natural resources and recycling. The determinants studied are?: size, performance, debt and financial analysts leading the company. We can?t conclude on a decrease of the cost of capital when companies disclose environmental information.

Suggested Citation

  • Frédérique Déjean & Isabelle Martinez, 2009. "Communication environnementale des entreprises du SBF120 : déterminants et conséquences sur le coût du capital actions," Comptabilité - Contrôle - Audit, Association francophone de comptabilité, vol. 15(1), pages 55-77.
  • Handle: RePEc:cai:ccaafc:cca_151_0055

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    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Sandrine Boulerne & Jean-Philippe Lafontaine & Bruno Pecchioli, 2016. "Fukushima, quel impact sur les entreprises françaises cotées de la filière de production d'électricité d'origine nucléaire ?," Post-Print hal-01902423, HAL.
    2. Georges Bidi, 2016. "Conseil d'administration et représentation féminine : effet sur le reporting RSE et la performance des entreprises du SBF 120," Post-Print hal-01901138, HAL.
    3. Jeanne Amar & Samira Demaria & Sandra Rigot, 2019. "What motivates CAC 40 companies to disclose information on climate-related financial risks?," Post-Print halshs-02407125, HAL.
    4. Jean-Francis Ory & Jean-Luc Petitjean, 2014. "CSR and financial performance: an approach by corporate communication [RSE et performance financière : une approche par la communication des entreprises]," Post-Print hal-01330524, HAL.
    5. Amel Ben Rhouma & Walid Ben Amar & Eustache Ebondo Wa Mandzila, 2014. "Quel Impact Des Mécanismes De Gouvernance Sur La Divulgation Des Risques Liés Au Changement Climatique ? Le Cas Des Entreprises Françaises Cotées," Post-Print hal-01899578, HAL.
    6. Florence Depoers & Tiphaine Jérôme, 2017. "Environmental expenditure disclosure strategies in a regulated context [Stratégies de publication des dépenses environnementales dans un cadre réglementaire]," Post-Print hal-01576195, HAL.
    7. Jean-Francis Ory & Jean-Luc Petitjean & Thierry Côme, 2016. "Plan vert des universités : plan stratégique ou outil de communication ?," Post-Print hal-01695045, HAL.


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