The impact of air pollution on the cost of debt financing: Evidence from the bond market

This study investigates whether bond markets reflect firms' exposure to air pollution through an increased cost of debt financing; and, if so, whether firms can mitigate this air pollution penalty via effective governance and active monitoring. Using 1067 bonds issued by Chinese firms, we docum...

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Veröffentlicht in:	Business strategy and the environment 2022-01, Vol.31 (1), p.464-482
Hauptverfasser:	Tan, Jianhua, Chan, Kam C., Chen, Yining
Format:	Artikel
Sprache:	eng
Schlagworte:	Air Air pollution Bond markets bond yield spread China Companies Corporate governance Credit risk Debt Debt financing Financing Impact analysis Pollution monitoring Uncertainty
Online-Zugang:	Volltext
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