Business sustainability performance and cost of equity capital
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The relation between CSR disclosures and cost of capital often depends on mediating factors, such as actual CSR performance, type of CSR disclosures, materiality to investors, and third-party assurance.
“The relation often depends on a number of mediating factors, such as firms’ actual CSR performance (Dhaliwal et al. 2011), the type of CSR disclosures (e.g., environmental and governance topics; Ng and Rezaee 2015), whether the CSR disclosures are material to investors (Matsumura et al. 2017), or whether a third-party provides assurance of the CSR reports (Casey and Grenier 2015).”
From Mandatory CSR and sustainability reporting: economic analysis and literature review (2021) · cites this paper as Ng and Rezaee 2015
Cites
Baron, R. M., & Kenny, D. A. (1986) · Journal of Personality and Social Psychology · doi:10.1037//0022-3514.51.6.1173 · Cited by 91,542 · see citing works
Baron, R. M., & Kenny, D. A. (1986) · Journal of Personality and Social Psychology · doi:10.1037/0022-3514.51.6.1173 · Cited by 91,532 · see citing works
Corporate Governance and Equity Prices
Gompers, P., Ishii, J., & Metrick, A. (2003) · The Quarterly Journal of Economics · doi:10.1162/00335530360535162 · Cited by 6,120 · see citing works
Disclosure, Liquidity, and the Cost of Capital
DIAMOND, D. W., & VERRECCHIA, R. E. (1991) · The Journal of Finance · doi:10.1111/j.1540-6261.1991.tb04620.x · Cited by 3,836 · see citing works
Accounting Information, Disclosure, and the Cost of Capital
LAMBERT, R., LEUZ, C., & VERRECCHIA, R. E. (2007) · Journal of Accounting Research · doi:10.1111/j.1475-679x.2007.00238.x · Cited by 2,586 · see citing works
Legal protection of investors, corporate governance, and the cost of equity capital
Chen, K. C. W., Chen, Z., & Wei, K. C. J. (2009) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2009.01.001 · Cited by 669 · see citing works
Learning and the disappearing association between governance and returns
Bebchuk, L. A., Cohen, A., & Wang, C. C. Y. (2013) · Journal of Financial Economics · doi:10.1016/j.jfineco.2012.10.004 · Cited by 311 · see citing works
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Mandatory CSR and sustainability reporting: economic analysis and literature review
Christensen, H. B., Hail, L., & Leuz, C. (2021) · Review of Accounting Studies · doi:10.1007/s11142-021-09609-5 · Cited by 1,923 · see citing works
Sustainable Financial Products in the Latin America Banking Industry: Current Status and Insights
Mejia-Escobar, J. C., González-Ruiz, J. D., & Duque-Grisales, E. (2020) · Sustainability · doi:10.3390/su12145648 · Cited by 98 · see citing works
- Authors
- Ng, A. C., & Rezaee, Z.
- Affiliations
- Monash University (AU)
- University of Memphis (US)
- Corresponding author
- Rezaee, Zabihollah
- Venue
- Journal of Corporate Finance
- Publisher
- Elsevier BV
- Published
- 2015-10
- Volume
- 34
- Pages
- 128-149
- ISSN
- 0929-1199 (ISSN-L)
- OpenAlex
- W2189126026
- Cited by
- 650
- References
- 7
- Citations by year
- 2026: 79 · 2025: 124 · 2024: 125 · 2023: 96 · 2022: 73 · 2021: 60 · 2020: 42 · 2019: 17 · 2018: 17 · 2017: 10 · 2016: 5 · 2015: 1
- FWCI
- 30.80
- Type
- journal article
- Language
- en
- Open access
- green
- doi.org
- Locations
- Journal of Corporate Finance (publishedVersion)
- SSRN Electronic Journal (acceptedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Social Responsibility Reporting
- Social Sciences › Economics, Econometrics and Finance › Finance › Sustainable Finance and Green Bonds
- Social Sciences › Business, Management and Accounting › Strategy and Management › Financial Reporting and Valuation Research
- Keywords
- corporate sustainability, cost of equity, ESG performance, environmental sustainability, social sustainability, corporate governance, growth sustainability, operational efficiency, earnings-to-price ratio, interaction effects
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
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