The social and environmental drivers of corporate credit ratings: international evidence

Gregor Dorfleitner () and Johannes Grebler
Additional contact information
Gregor Dorfleitner: University of Regensburg
Johannes Grebler: University of Regensburg

Business Research, 2020, vol. 13, issue 3, No 19, 1343-1415

Abstract: Abstract We provide evidence of the exogenous impact of environmental and social performance components on credit ratings in North America, Europe, and Asia. In particular, the product innovation dimension is clearly identified as being the dominating driver of credit ratings within the environmental performance in every subsample region. In the social performance dimension, the extent of diversity is a main driver for firms in North America and Europe, but due to cultural reasons, not in Asia. Our results show that the risk mitigation view holds for all significant corporate social or environmental performance variables, but the magnitude of impact differs regionally.

Keywords: Credit risk; Credit ratings; Asset4; CSP; CSR; Sustainability (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://link.springer.com/10.1007/s40685-020-00127-9 Abstract (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:busres:v:13:y:2020:i:3:d:10.1007_s40685-020-00127-9

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/40685

DOI: 10.1007/s40685-020-00127-9

Access Statistics for this article

Business Research is currently edited by Thomas Gehrig

More articles in Business Research from Springer, German Academic Association for Business Research Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().