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Corporate environmental responsibility, financial performance, and international bank loans: Evidence from China

Huang, Yin-Siang and Lu, You-Xun (2022): Corporate environmental responsibility, financial performance, and international bank loans: Evidence from China.

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Abstract

In the context of sustainable development and “going global” strategies, Chinese firms are paying more attention to corporate environmental responsibility (CER). Using a sample of Chinese firms from 2010-2019, this study examines the impact of CER on corporate financial performance (CFP) and international bank loans. We find that the proactive disclosure of non-hazardous industrial waste (NHIW) emissions has no significant effect on the return on assets (ROA) but significantly increases the return on equity (ROE). In addition, our results show that international banks will offer lower loan spreads and longer loan maturities to firms with better environmental performance.

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