Corporate Bond Covenants and Social Responsibility Investment

Verfasser / Beitragende:
[Guifeng Shi, Jianfei Sun]
Ort, Verlag, Jahr:
2015
Enthalten in:
Journal of Business Ethics, 131/2(2015-10-01), 285-303
Format:
Artikel (online)
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024 7 0 |a 10.1007/s10551-014-2272-y  |2 doi 
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245 0 0 |a Corporate Bond Covenants and Social Responsibility Investment  |h [Elektronische Daten]  |c [Guifeng Shi, Jianfei Sun] 
520 3 |a This paper examines the effect of corporate social responsibility (CSR) on the number of bond covenants. We find that a high CSR score has a negative association with the number of bond covenants. Moreover, our results are more pronounced for firms with a high bid-ask spread and high agency costs. Our analysis highlights the effect of the good stakeholder relationship on the bond contracts. 
540 |a Springer Science+Business Media Dordrecht, 2014 
690 7 |a Bond covenants  |2 nationallicence 
690 7 |a Corporate social responsibility investment  |2 nationallicence 
700 1 |a Shi  |D Guifeng  |u Antai College of Economics and Management, Shanghai Jiao Tong University, 535 Fahua Zhen Rd., 200052, Shanghai, China  |4 aut 
700 1 |a Sun  |D Jianfei  |u Antai College of Economics and Management, Shanghai Jiao Tong University, 535 Fahua Zhen Rd., 200052, Shanghai, China  |4 aut 
773 0 |t Journal of Business Ethics  |d Springer Netherlands  |g 131/2(2015-10-01), 285-303  |x 0167-4544  |q 131:2<285  |1 2015  |2 131  |o 10551 
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950 |B NATIONALLICENCE  |P 700  |E 1-  |a Shi  |D Guifeng  |u Antai College of Economics and Management, Shanghai Jiao Tong University, 535 Fahua Zhen Rd., 200052, Shanghai, China  |4 aut 
950 |B NATIONALLICENCE  |P 700  |E 1-  |a Sun  |D Jianfei  |u Antai College of Economics and Management, Shanghai Jiao Tong University, 535 Fahua Zhen Rd., 200052, Shanghai, China  |4 aut 
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