Climate Risk and Capital Structure
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Greater climate risk leads to lower firm leverage, with firms decreasing their demand for debt and lenders reducing their lending to firms with the greatest risk.
“greater climate risk leads to lower firm leverage with firms decreasing their demand for debt and lenders reducing their lending to firms with the greatest risk (Ginglinger and Moreau 2019)”
From The Importance of Climate Risks for Institutional Investors (2020) · cites this paper as Ginglinger and Moreau 2019
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- Authors
- Ginglinger, E., & Moreau, Q.
- Affiliations
- University of Glasgow (GB)
- ORCID
- Moreau, Quentin
- Venue
- SSRN Electronic Journal
- Publisher
- Elsevier BV
- Published
- 2019
- ISSN
- 1556-5068 (ISSN-L)
- OpenAlex
- W2939282041
- Cited by
- 71
- References
- 34
- Citations by year
- 2026: 6 · 2025: 13 · 2024: 12 · 2023: 18 · 2022: 9 · 2021: 9 · 2020: 3 · 2019: 1
- Type
- posted content
- Language
- en
- Open access
- green
- doi.org
- Locations
- SSRN Electronic Journal (publishedVersion)
- Rare & Special e-Zone (The Hong Kong University of Science and Technology) (submittedVersion)
- HAL (submittedVersion)
- Base Institutionnelle de Recherche de l'université Paris-Dauphine (BIRD) (University Paris-Dauphine) (submittedVersion, cc-by-sa)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Sustainable Finance and Green Bonds
- Social Sciences › Business, Management and Accounting › Accounting › Corporate Finance and Governance
- Social Sciences › Business, Management and Accounting › Accounting › Risk Management in Financial Firms
- Keywords
- physical climate risk, capital structure, leverage, Paris Agreement, climate risk disclosure, credit spreads, bond spreads, operating costs, credit ratings, corporate finance
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