NDLI: The impact of environmental performance information disclosure on financing constraints

Content Provider	IEEE Xplore Digital Library
Author	Yun Yan Ke Peng
Copyright Year	2013
Description	Author affiliation: Shenzhen Grad. Sch., Sch. of Urban Planning & Manage., Harbin Inst. of Technol., Shenzhen, China (Yun Yan; Ke Peng)
Abstract	Previous studies examining the impact of information disclosure on financing constraints have generally ignored the role played by environmental performance information disclosure (EPID). In this article, we are among the first to examine the impact of EPID on financing constraints based on a sample of 104 listed companies on Shanghai stock exchange for the period 2008 to 2011. Empirical analysis shows that improving the quality of EPID can significantly reduce financing constraints faced by listed companies. Our results are robust and consistent across industries. Particularly, we find that the negative relationship between EPID and financing constraints is more significant for non-heavy polluting industries and companies with high level of financing constraints. Our results have significant policy implications.
Starting Page	526
Ending Page	529
File Size	85169
Page Count	4
File Format	PDF
ISBN	9781479939855
e-ISBN	9781479902453
DOI	10.1109/ICIII.2013.6703204
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2013-11-23
Publisher Place	China
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Industries Sociology financing constraints Finance Companies Educational institutions environmental performance Stock markets information disclosure Investment
Content Type	Text
Resource Type	Article

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