Information flow perspective for capturing the impact of corporate environmental performance on the cost of debt

Xu, Yinshuo and Slaughter, Geoff and Al-Hakim, Latif (2009) Information flow perspective for capturing the impact of corporate environmental performance on the cost of debt. In: 4th International Conference on Cooperation and Promotion of Information Resources in Science and Technology: Managing Virtual Organisations and Information in the Era of Globalisation (COINFO'09), 21-23 Nov 2009, Beijing, China.

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Abstract

Stakeholders’ increased concern for environmental sustainability has resulted in many firms placing greater emphasis on environmental performance management. Creditors are often major corporate stakeholders and as such when evaluating firms’ applications for debt financing examine how the environmental sustainability of an organisation may impact on default risk and thus the cost of debt. This study identifies the elements of the information flows between corporate borrowers and lenders and how environmental performance impacts on the cost of debt financing. It develops a conceptual framework based on stakeholder, agency theory and data flow diagram which traces the flow of environmental and financial information between lenders and corporate borrowers. The proposed framework is designed to identify information that determines the impact of corporate environmental performance on a firm’s cost of debt.


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Item Type: Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)
Refereed: Yes
Item Status: Live Archive
Additional Information: Author's version deposited in accordance with the copyright policy of the publisher. © 2009 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purpose or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.
Depositing User: Dr Geoff Slaughter
Faculty / Department / School: Historic - Faculty of Business - School of Accounting, Economics and Finance
Date Deposited: 05 Nov 2009 02:20
Last Modified: 02 Jul 2013 23:28
Uncontrolled Keywords: information flow; corporate environmental performance; cost of debt; stakeholder theory; agency theory; data flow diagram
Fields of Research (FOR2008): 14 Economics > 1402 Applied Economics > 140201 Agricultural Economics
15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150303 Corporate Governance and Stakeholder Engagement
15 Commerce, Management, Tourism and Services > 1501 Accounting, Auditing and Accountability > 150106 Sustainability Accounting and Reporting
Socio-Economic Objective (SEO2008): B Economic Development > 90 Commercial Services and Tourism > 9098 Environmentally Sustainable Commercial Services and Tourism > 909899 Environmentally Sustainable Commercial Services and Tourism not elsewhere classified
Identification Number or DOI: doi: 10.1109/COINFO.2009.18
URI: http://eprints.usq.edu.au/id/eprint/6041

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