Dealing with Carbon Risk and the Cost of Debt: Evidence from the European Market

被引：17

作者：

Pizzutilo, Fabio ^{[1
]}

Mariani, Massimo ^{[2
]}

Caragnano, Alessandra ^{[2
]}

Zito, Marianna ^{[2
]}

机构：

[1] Univ Bari Aldo Moro, Dept Econ Management & Business Law, I-70124 Bari, Italy

[2] LUM Jean Monnet Univ, Dept Management, I-70010 Casamassima, BA, Italy

来源：

INTERNATIONAL JOURNAL OF FINANCIAL STUDIES | 2020年 / 8卷 / 04期

关键词：

environmental finance; carbon risk; cost of debt; European financial market; PERFORMANCE; EMISSIONS; INFORMATION; MANAGEMENT; IMPACT;

D O I：

10.3390/ijfs8040061

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The ever-increasing attention towards climate change has led to investigate the economic and financial impact of environmental risk. In this scenario, we aimed at investigating the relationship between a specific component of environmental risk, namely the so-called carbon risk, and the cost of debt. This research is motivated by the fact that few studies have focused on the aforementioned relationship. We fill this gap by using a sample of companies listed on the Eurostoxx 600 Index. Our results evidence a positive relationship between carbon risk and cost of debt, providing a relevant contribution to the scarce existing literature on this topic.

引用

页码：1 / 10

页数：10

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