Corporate Environmental Responsibility and Capital Structure

Panagiotis Dimitropoulos () and Konstantinos Koronios ()
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Panagiotis Dimitropoulos: University of Peloponnese
Konstantinos Koronios: University of Peloponnese

Chapter Chapter 7 in Corporate Environmental Responsibility, Accounting and Corporate Finance in the EU, 2021, pp 133-156 from Springer

Abstract: Abstract The aim of this chapter is to examine the impact of CER related performance on firm capital structure decisions, by distinguishing between short-term debt, long term debt and common equity capital and taking into consideration potential endogeneity between the examined factors and their bidirectional association, evidenced by previous studies on the field. Empirical analysis suggested that CER performance is negatively impacting long term debt but positively on short term debt and shareholders’ equity indicating a differential impact of CER on capital structure decisions. Practically, we can argue the CER performing firms rely more on their own shareholders’ equity and short term debt to finance their activities, and less on long term debt.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-030-72773-4_7

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DOI: 10.1007/978-3-030-72773-4_7

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