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| Author: | Menz, K.M. |
| Title: | Corporate social responsibility: Is it rewarded by the corporate bond market? A critical note |
| Journal: | Journal of Business Ethics
2010 : SEP, VOL. 96:1 p. 117-134 |
| Index terms: | corporate responsibility social responsibility sustainable development bonds Europe |
| Freeterms: | corporate citizenship credit spreads |
| Language: | eng |
| Abstract: | The article examines the relations between the valuation of Euro corporate bonds and standards of corporate social responsibility in mostly European firms. An empirical analysis was conducted to investigate the matter. The findings indicate that the risk premium for socially responsible companies is ceteris paribus higher than for companies that are not socially responsible. However, the relationship can be regarded only marginal, as only one case of the models examined was slightly significant. |
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