Corporate Social Responsibility and Credit Ratings
This study provides evidence on the relationship between corporate social responsibility (CSR) and firms’ credit ratings. We find that credit rating agencies tend to award relatively high ratings to firms with good social performance. This pattern is robust to controlling for key firm characteristic...
Authors: | ; ; ; |
---|---|
Format: | Electronic Article |
Language: | English |
Check availability: | HBZ Gateway |
Journals Online & Print: | |
Fernleihe: | Fernleihe für die Fachinformationsdienste |
Published: |
Springer Science + Business Media B. V
2013
|
In: |
Journal of business ethics
Year: 2013, Volume: 117, Issue: 4, Pages: 679-694 |
Further subjects: | B
Corporate social responsibility
B Business Ethics B Credit ratings |
Online Access: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
MARC
LEADER | 00000caa a22000002 4500 | ||
---|---|---|---|
001 | 1785649175 | ||
003 | DE-627 | ||
005 | 20230331053359.0 | ||
007 | cr uuu---uuuuu | ||
008 | 220112s2013 xx |||||o 00| ||eng c | ||
024 | 7 | |a 10.1007/s10551-013-1714-2 |2 doi | |
035 | |a (DE-627)1785649175 | ||
035 | |a (DE-599)KXP1785649175 | ||
035 | |a (DE-He213)s10551-013-1714-2-e | ||
040 | |a DE-627 |b ger |c DE-627 |e rda | ||
041 | |a eng | ||
084 | |a 1 |2 ssgn | ||
100 | 1 | |a Attig, Najah |e VerfasserIn |4 aut | |
245 | 1 | 0 | |a Corporate Social Responsibility and Credit Ratings |
264 | 1 | |c 2013 | |
336 | |a Text |b txt |2 rdacontent | ||
337 | |a Computermedien |b c |2 rdamedia | ||
338 | |a Online-Ressource |b cr |2 rdacarrier | ||
520 | |a This study provides evidence on the relationship between corporate social responsibility (CSR) and firms’ credit ratings. We find that credit rating agencies tend to award relatively high ratings to firms with good social performance. This pattern is robust to controlling for key firm characteristics as well as endogeneity between CSR and credit ratings. We also find that CSR strengths and concerns influence credit ratings and that the individual components of CSR that relate to primary stakeholder management (i.e., community relations, diversity, employee relations, environmental performance, and product characteristics) matter most in explaining firms’ creditworthiness. Overall, our results suggest that CSR performance conveys important non-financial information that rating agencies are likely to use in their evaluation of firms’ creditworthiness, and that CSR investments—particularly those that extend beyond compliance behavior to reflect what is desired by society—can lead to lower financing costs resulting from higher credit ratings. | ||
650 | 4 | |a Credit ratings | |
650 | 4 | |a Corporate Social Responsibility | |
650 | 4 | |a Business Ethics | |
700 | 1 | |a El Ghoul, Sadok |e VerfasserIn |4 aut | |
700 | 1 | |a Guedhami, Omrane |e VerfasserIn |4 aut | |
700 | 1 | |a Suh, Jungwon |e VerfasserIn |4 aut | |
773 | 0 | 8 | |i Enthalten in |t Journal of business ethics |d Dordrecht [u.a.] : Springer Science + Business Media B.V, 1982 |g 117(2013), 4, Seite 679-694 |h Online-Ressource |w (DE-627)270937129 |w (DE-600)1478688-6 |w (DE-576)121465284 |x 1573-0697 |7 nnns |
773 | 1 | 8 | |g volume:117 |g year:2013 |g number:4 |g pages:679-694 |
856 | |3 Volltext |u http://www.jstor.org/stable/42001880 |x JSTOR | ||
856 | 4 | 0 | |u https://doi.org/10.1007/s10551-013-1714-2 |x Resolving-System |z lizenzpflichtig |3 Volltext |
935 | |a mteo | ||
936 | u | w | |d 117 |j 2013 |e 4 |h 679-694 |
951 | |a AR | ||
ELC | |a 1 | ||
ITA | |a 1 |t 1 | ||
LOK | |0 000 xxxxxcx a22 zn 4500 | ||
LOK | |0 001 4033708065 | ||
LOK | |0 003 DE-627 | ||
LOK | |0 004 1785649175 | ||
LOK | |0 005 20220112043804 | ||
LOK | |0 008 220112||||||||||||||||ger||||||| | ||
LOK | |0 035 |a (DE-Tue135)IxTheo#2021-12-30#6DC0AE1A1119994A5D1ECE7EB78BD063A5B410D7 | ||
LOK | |0 040 |a DE-Tue135 |c DE-627 |d DE-Tue135 | ||
LOK | |0 092 |o n | ||
LOK | |0 852 |a DE-Tue135 | ||
LOK | |0 852 1 |9 00 | ||
LOK | |0 866 |x JSTOR#http://www.jstor.org/stable/42001880 | ||
LOK | |0 935 |a ixzs |a ixrk |a zota | ||
ORI | |a SA-MARC-ixtheoa001.raw | ||
STA | 0 | 0 | |a Corporate social responsibility |
STB | 0 | 0 | |a Responsabilité sociale de l'entreprise |
STC | 0 | 0 | |a Responsabilidad social de la empresa |
STD | 0 | 0 | |a Corporate social responsibility,Responsabilità sociale d'impresa,Responsabilità sociale d'impresa |
STF | 0 | 0 | |a 企業社會責任 |
STG | 0 | 0 | |a Responsabilidade social da empresa |
STH | 0 | 0 | |a Корпоративная социальная ответственность |
STI | 0 | 0 | |a Εταιρική κοινωνική ευθύνη,Corporate social responsibility |
SYE | 0 | 0 | |a Corporate social responsibility,Corporate citizenship,Corporate environment responsibility,Corporate environmental responsibility,Corporate responsibility,Corporate sustainability management,Corporate volunteering,CSR (Corporate social responsibility),Environmental social governance,ESG,Gesellschaftliche Unternehmensverantwortung,Gesellschaftliche Verantwortung von Unternehmen,Gesellschaftliches Engagement von Unternehmen,Nachhaltigkeitsmanagement,Soziale Verantwortung von Unternehmen,Soziales Engagement von Unternehmen,Unternehmensverantwortung,Unternehmerische Sozialverantwortung,CSR,Corporate Citizenship,Unternehmerische Gesellschaftsverantwortung,Unternehmerische Sozialverantwortung,Unternehmen |