ESG greenwashing and corporate debt financing costs

Qian Peng and Yang Xie

Finance Research Letters, 2024, vol. 69, issue PA

Abstract: This paper empirically examines the impact of ESG "greenwashing" on corporate bond costs in China's capital market, focusing on non-financial listed companies. The study results indicate that corporate ESG "greenwashing" can lead to negative economic consequences, resulting in an increase in corporate debt financing costs. Further analysis shows that this effect is mainly concentrated in non-state-owned enterprises and small-scale enterprises.

Keywords: ESG greenwashing; Corporate debt financing costs (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:69:y:2024:i:pa:s1544612324010420

DOI: 10.1016/j.frl.2024.106012

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