气候变化领域集成服务门户(CCPortal): The impact of air pollution on cost of debt: Evidence from corporate bond markets

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DOI	10.1111/acfi.13257
	The impact of air pollution on cost of debt: Evidence from corporate bond markets
	Hu, Xiaolu; Zhong, Angel; Cao, Youdan; Wang, Wenlan
发表日期	2024
ISSN	0810-5391
EISSN	1467-629X
英文摘要	This study explores the influence of air pollution on the corporate bond market in China. An air pollution premium is documented, whereby bonds issued in more polluted areas are associated with higher offering yields at issue in the primary market and higher yield spreads in the secondary market. The statistically and economically significant air pollution premium is robust to a battery of sensitivity checks. The air pollution premium is associated with rising investor attention to climate risk in financial markets.
英文关键词	air pollution; bond yield spread; climate change; corporate bond market; cost of debt
语种	英语
WOS研究方向	Business & Economics
WOS类目	Business, Finance
WOS记录号	WOS:001206151900001
来源期刊	ACCOUNTING AND FINANCE
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/288905
作者单位	Royal Melbourne Institute of Technology (RMIT); Shanghai University of International Business & Economics
推荐引用方式 GB/T 7714	Hu, Xiaolu,Zhong, Angel,Cao, Youdan,et al. The impact of air pollution on cost of debt: Evidence from corporate bond markets[J],2024.
APA	Hu, Xiaolu,Zhong, Angel,Cao, Youdan,&Wang, Wenlan.(2024).The impact of air pollution on cost of debt: Evidence from corporate bond markets.ACCOUNTING AND FINANCE.
MLA	Hu, Xiaolu,et al."The impact of air pollution on cost of debt: Evidence from corporate bond markets".ACCOUNTING AND FINANCE (2024).