National Stakeholder Orientation, Corporate Social Responsibility, and Bank Loan Cost

Yan-Leung Cheung (), Weiqiang Tan () and Wenming Wang ()
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Yan-Leung Cheung: Hong Kong Institute of Education
Weiqiang Tan: Hong Kong Baptist University
Wenming Wang: Hong Kong Baptist University

Journal of Business Ethics, 2018, vol. 150, issue 2, No 11, 505-524

Abstract: Abstract Based on a sample of firms from 20 countries around the world, this study investigates how the relationship between corporate social responsibility (CSR) and bank loan pricing is affected by the degree of national stakeholder orientation. We find that firms with superior CSR performance are more likely to enjoy lower loan costs in more stakeholder-oriented countries than are their counterparts in less stakeholder-oriented countries. This study contributes to the CSR literature by highlighting the importance of national institutional environments in determining the economic consequences of CSR practices.

Keywords: Corporate social responsibility; Bank loan pricing; National stakeholder orientation (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (22)

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DOI: 10.1007/s10551-016-3140-8

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