ESG information disclosure, industrial policy support, debt financing costs

Liying He and Kamisah Ismail

Finance Research Letters, 2024, vol. 66, issue C

Abstract: This study uses the data of Chinese listed companies from 2011 to 2022 as a sample for empirical analysis. The results show that ESG information disclosure can significantly reduce the cost of corporate debt financing, and 15.48 % of the utility is achieved by reducing the information asymmetry between enterprises and creditors. In addition, the debt costs of enterprises supported by non-industrial policies is more sensitive to ESG information disclosure. In the process of reducing debt costs supported by non-industrial policies, enterprises need to focus on ESG practice and improve the rating of ESG information disclosure.

Keywords: ESG information disclosure; Industrial policy support; Debt costss; Information asymmetry; Heterogeneity (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:66:y:2024:i:c:s1544612324006603

DOI: 10.1016/j.frl.2024.105630

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