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Can Investing in Corporate Social Responsibility Lower a Company’s Cost of Capital?

Cajias, Marcelo, Bienert, Sven and Fürst, Franz (2014) Can Investing in Corporate Social Responsibility Lower a Company’s Cost of Capital? Studies in Economics and Finance 31, pp. 202-222.

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Other URL: https://doi.org/10.1108/SEF-05-2013-0067


Abstract

Purpose – This paper aims to investigate the effect of corporate social responsibility (CSR) ratings on the ex ante cost of capital of more than 2,300 listed US companies in a panel from 2003 to 2010. It examines whether financial markets value continuous investment in CSR activities through higher market capitalization and lower cost of capital. Design/methodology/approach – The measure of ...

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Item type:Article
Date:2014
Institutions:Business, Economics and Information Systems > Institut für Immobilienenwirtschaft / IRE|BS > Kompetenzzentrum für Nachhaltigkeit in der Immobilienwirtschaft (Prof. Dr. Sven Bienert)
Identification Number:
ValueType
10.1108/SEF-05-2013-0067DOI
Keywords:Corporate social responsibility, Sustainability, Cost of capital, Quantile regression, Granger causality
Dewey Decimal Classification:300 Social sciences > 330 Economics
Status:Published
Refereed:Yes, this version has been refereed
Created at the University of Regensburg:Partially
Item ID:40277
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