Lyu, Xiaoyi; Shan, Chenyu; Tang, Dragon Yongjun - In: Journal of business ethics : JBE 200 (2025) 4, pp. 957-985
The sources of financing for a firm can influence its environmental ethics. This study shows that traditional debt financing is associated with more pollution. Specifically, after issuing debt, firms tend to increase not only their total pollution level but also their pollution intensity. The...