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Applied Economics Letters Volume 23, 2016 - Issue 17
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Original Articles

The impact of corporate social responsibility activities on corporate financing: a case of bank loan covenants

Sung C. BaeCollege of Business Administration, Bowling Green State University, Bowling Green, OH, USACorrespondence[email protected]
,
Kiyoung ChangCollege of Business, University of South Florida Sarasota-Manatee, Sarasota, FL, USA
&
Ha-Chin YiMcCoy College of Business Administration, Texas State University, San Marcos, TX, USA
Pages 1234-1237 | Published online: 24 Feb 2016

References

  • Bradley, M., and M. Roberts, 2004, The structure and pricing of corporate debt covenants. Working Paper, Duke University.
  • Ghoul, S. E., O. Guedhami, C. C. Y. Kwok, and D. R. Mishra. 2011. “Does Corporate Social Responsibility Affect the Cost of Capital?” Journal of Banking & Finance 35: 2388–2406. doi:10.1016/j.jbankfin.2011.02.007.
  • Goss, A., and G. Roberts. 2011. “The Impact of Corporate Social Responsibility on the Cost of Bank Loans.” Journal of Banking & Finance 35: 1794–1810. doi:10.1016/j.jbankfin.2010.12.002.
  • Harjoto, M. A., and H. Jo. 2011. “Corporate Governance and CSR Nexus.” Journal of Business Ethics 100: 45–67. doi:10.1007/s10551-011-0772-6.
  • Menz, K. M. 2010. “Corporate Social Responsibility: Is It Rewarded by the Corporate Bond Market? A Critical Note.” Journal of Business Ethics 96: 117–134. doi:10.1007/s10551-010-0452-y.
  • Nandy, M., and S. Lodh. 2012. “Do Banks Value the Eco-Friendliness of Firms in Their Corporate Lending Decision? Some Empirical Evidence.” International Review of Financial Analysis 25: 83–93. doi:10.1016/j.irfa.2012.06.008.
  • Shi, G., and J. Sun. 2015. “Corporate Bond Covenants and Social Responsibility Investment.” Journal of Business Ethics 131: 285–303. doi:10.1007/s10551-014-2272-y. ( forthcoming)
  • Strahan, P., 1999, Borrow risk and the price and nonprice terms of bank loans. Working paper, Federal Reserve Bank of New York.
  • White, H. 1980. “A Heteroskedasticity-Consistent Covariance Matrix Estimator and A Direct Test for Heteroskedasticity.” Econometrica 48: 817–838. doi:10.2307/1912934.

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