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Communication environnementale et coût des fonds propres : Le cas des entreprises du SBF120

Author

Listed:
  • Frédérique Dejean

    (DRM - Dauphine Recherches en Management - Université Paris-Dauphine - CNRS - Centre National de la Recherche Scientifique, GREG - CRC - Groupe de recherche en économie et en gestion - Centre de recherche en comptabilité - CNAM - Conservatoire National des Arts et Métiers [CNAM])

  • Isabelle Martinez

    (LGC - Laboratoire de Gestion et de Cognition - UPS - Université Paul Sabatier - Toulouse 3)

Abstract

Quel est l'impact sur le coût des fonds propres des divulgations volontaires d'informations environnementales ? C'est à cette question de recherche que nous tentons ici de répondre. L'étude empirique porte sur un échantillon de 119 entreprises cotées du SBF120. La majorité de ces entreprises consacre en 2006 un chapitre ou une partie au domaine environnemental dans leur rapport annuel tandis que 20% publient un rapport spécifiquement dédié au développement durable. Quel que soit le support choisi, les thèmes environnementaux les plus documentés concernent la pollution, les ressources naturelles et le recyclage. L'étude met en exergue l'absence d'impact de la communication environnementale sur le coût des fonds propres des entreprises émettrices. Une gestion environnementale transparente ne semble donc pas à l'origine d'une baisse du coût des ressources de financement.

Suggested Citation

  • Frédérique Dejean & Isabelle Martinez, 2008. "Communication environnementale et coût des fonds propres : Le cas des entreprises du SBF120," Post-Print halshs-00525815, HAL.
  • Handle: RePEc:hal:journl:halshs-00525815
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00525815
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    References listed on IDEAS

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