When green meets green

نویسندگان

چکیده

We investigate whether and how the environmental consciousness (greenness for short) of firms banks is reflected in pricing bank credit. Using a large international sample syndicated loans over period 2011–2019, we find that green indeed reward being form cheaper loans—however, only after ratification Paris Agreement 2015. Such are also more likely term loans, with fewer covenants reflect firms' project choices. Thus, attitudes matter “when meets green.”

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ژورنال

عنوان ژورنال: Journal of Corporate Finance

سال: 2023

ISSN: ['0929-1199', '1872-6313']

DOI: https://doi.org/10.1016/j.jcorpfin.2023.102355