Search Results - subject_exact:"Kapitalkosten"

Sustainability practices and capital costs : evidence from banks and financial technology firms in global markets

Vaitiekuniene, Raminta; Sapkauskiene, Alfreda - 2026

This paper examines the impact of environmental, social, and governance (ESG) disclosure on the cost of capital for banks as well as financial technology companies in Europe, America, and Asia from 2010 to 2024. The study investigates how sustainability affects financing conditions in the two...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015591433

Was capital expensive in the colonial countryside? : the view from Uttar Pradesh

Nagar, Alex - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015640078

ESG integration and the financial stability trade-off in emerging markets

Meneses Cerón, Luis Ángel; Gomez Lopez, Julian Mauricio; … - 2026

This study investigates the impact of ESG practices on the financial stability in a multisector sample of 86 publicly listed Brazilian firms, focusing on the Weighted Average Cost of Capital (WACC) and Altman Z-Score (AZS) as a proxy for insolvency risk. Using Bloomberg data from 2010 to 2021,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015643080

Risks, rates, and rays : domestic financing shapes Brazil's utility-scale solar PV costs in regulated auctions

Monroy Gomez, Santiago; Jansen, Malte - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015644732

Tax policy and corporate investment : evidence from Indian firm-level panel data

Ghate, Chetan; Singh, Sukhdeep; Chakraborty, Indrani - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015647090

Corporate governance characteristics, shareholder dissent and agency cost of debt

Ding, Wenjie; Hemmings, Danial; Hodgkinson, Lynn; … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015647421

Expecting the unexpected : voluntary sensitivity risk disclosure and the cost of equity capital

Li, Yong - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015650689

De-risking investment for sustainable development : the role of development banks and emerging donors

Santos-Paulino, Amelia U.; Sharma, Prachi; Trentini, Claudia - 2026

Development finance institutions (DFIs) play a central role in financing infrastructure for sustainable development, yet their effects on project‑level risk allocation and private capital mobilization remain imperfectly understood. This paper examines how different DFIs and financial...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015651831

The impact of financial liberalization, political connection and audit quality on the cost of debt

Le, Ben; Reddy, Nischala; Nguyen, Phong; Moore, Paula Hearn - 2026

We study the effect of financial liberalization, political connections, audit quality and the interaction of these factors on the cost of debt using a dataset for Vietnam for the period 2007-2024. Our findings show that firms were able to borrow at a lower cost after financial liberalization due...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015653762

Stakeholder-centric corporate misconduct and financing policies : a precautionary tale

Attig, Najah; El Ghoul, Sadok; Hossain, Ashrafee Tanvir - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015559066

Liquidity regulation and bank funding costs

Aldasoro, Iñaki; Dörr, Sebastian; Zhou, Haonan - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015668355

Assessing the financial impact of ESG portfolio optimization and diversification in an emerging market : evidence from Mexico

Fosado Olvera, Paula Margarita; Castillo Dieguez, … - 2026

This paper evaluates the financial implications of scaling and diversifying stock portfolios based on environmental, social, and governance (ESG) criteria in the Mexican Stock Exchange. By using a sample of firms from the S&P/BMV IPC index (2020-2024), four portfolios were constructed: High ESG,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015664813

The role of ESG committee on Indonesian companies in promoting sustainable practice to creditors : symbolic or substantive?

Aprullah, Muhammad Putra; Diantimala, Yossi; Arfan, Muhammad - 2025

This study investigates whether the presence of an ESG committee in promoting sustainable practices is symbolic or substantive to creditors when setting costs. With unbalanced panel data, the study used 1518 company-year observations from non-financial firms listed on the IDX period 2018 to...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015584358

US bank geographical expansion and impact on funding costs

Barth, James R.; Gu, Min; Paul, Arunima - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015548979

The ECB's APP's impact on non-financial firms' cost of borrowing and debt choice

Kanda, Joana F.; Pinto, João M.; Silva, Beatriz P. - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015324017

Quantitative easing and the functioning of the gilt repo market

Fatouh, Mahmoud; Giansante, Simone; Ongena, Steven - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015324489

CSR performance, disclosure tone, and cost of capital : evidence from European non-financial reporting

Minuth, Bianca; Pronobis, Paul - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015372921

Do creditors care about greening in corporations? : do contingencies matter?

Karaman, Abdullah S.; Gerged, Ali Meftah; Uyar, Ali - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015375444

Bonus depreciation as instrument for structural economic policy : effects on investment and asset structure

Eichfelder, Sebastian; Knaisch, Jonas David; Schneider, … - 2025

We analyze how the expiration of a regional bonus depreciation regime in eastern Germany (Development Area Law, DAL) affected real investments and asset structures of establishments in the manufacturing sector. Our rich administrative data allow us not only to identify the aggregate effect, but...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015210235

Leverage actually : the impact on banks' borrowing costs in euro area money markets

Andreeva, Desislava Č.; Samarina, Anna; Sousa Faria, Lara - 2025

This paper explores the impact of the regulatory leverage ratio (LR) on banks' demand for reserves and thus the pricing of overnight liquidity in the euro area money markets. We use daily transaction-level money market data during the period between January 2017 - February 2023 and examine the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015330342

Tax risk and cost of debt: the role of tax avoidance : evidence from the Iraqi stock market

Al-Refiay, Hussen Amran; Barrak, Jasim Idan; … - 2025

Taxes represent a significant expense for many companies, prompting a strong incentive to minimize tax liabilities through strategies known as tax avoidance. This research explores the impact of tax avoidance and tax risk disclosure on the cost of debt among companies listed on the Iraqi Stock...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015333753

The efficiency of corporate R&D investments : information-sharing and government subsidies

Li, Zhaohua; Yamada, Takeshi - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015334631

If money talks : climate change-related regulation and firms' cost of debt

Jin, Wenwen; Wang, Yu - 2025

This study uses a novel dataset from 54 countries and regions to explore how exposure to climate change regulatory shocks influences firms' debt costs. The findings reveal that such exposure generally increases the cost of debt. However, this scenario is reversed for firms that find greater...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015337341

Heterogeneous impact of cost of carry on corporate money demand

Movaghari, Hadi; Sermpinis, Georgios - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015338103

Creditors at the gate : effects of selective environmental disclosure on the cost of debt

Attig, Najah; Rahaman, Mohammad; Trabelsi, Samir - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015338420

The reputation effect of repeated green-bond issuance and its impact on the cost of capital

Petreski, Aleksandar; Schäfer, Dorothea; Stephan, Andreas - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015357948

Capital ratios and the Weighted Average Cost of Capital : evidence from Chilean banks

Cifuentes, Rodrigo; Gómez, Tomás; Jara R., Alejandro - 2025

This paper finds that an additional percentage point in the ratio of Common Equity Tier 1 (CET1) capital to risk-weighted assets is associated with an increase in the Weighted Average Cost of Capital (WACC) of Chilean banks by a maximum of only 11.7 basis points. This result is found by...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015358020

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Capital ratios and the weighted average cost of capital: evidence from Chilean banks

Cifuentes, Rodrigo; Gómez, Tomás; Jara R., Alejandro - 2022

Book / Working Paper

Biodiversity risk and firm efficiency

Li, Yulin; Liu, Xiaohui; Canil, Jean; Cheong, Chee Seng - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015197075

Going Green : effect of green bond issuance on corporate debt financing costs

Ruan, Qingsong; Li, Chengyu; Lv, Dayong; Wei, Xiaokun - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015359790

The impact of the carbon trading pilot program on the financing cost of green bonds

Yuan, Haojun; Liao, Jing; Young, Martin R. - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015418605

Corporate tax changes and credit costs

Deli, Yota; Delēs, Manthos D.; Hasan, Iftekhar; … - 2025

We examine changes in the corporate tax rate across the U.S. and their implications on the pricing and quantity of loans. We find that the cost of credit decreases (increases) by approximately ten (nine) basis points in response to a one percentage tax cut (hike). The estimates are more...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015419331

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Corporate tax changes and credit costs

Deli, Yota; Delēs, Manthos D.; Hasan, Iftekhar; … - 2022

Book / Working Paper

Corporate Tax Changes and Credit Costs

Deli, Yota; Delēs, Manthos D.; Hasan, Iftekhar; … - 2022

Book / Working Paper

Why are UK borrowing costs so high?

2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015464697

Geopolitical risk, cost of equity, and bank lending: evidence from the Ukrainian war

Sanders, Emiel; Vander Vennet, Rudi - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015466650

Does ERP implementation lower corporate financing costs? : a dual perspective from risk management and value creation

Zhang, Juanjuan; Zhou, Song; Ma, Fuhui - 2025

This study examines the impacts of Enterprise Resource Planning (ERP) systems on financing costs from the dual perspectives of risk management and relative value creation based on corporate value maximization objectives. Data were manually collected from the listed companies in China. It is...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015467354

Extreme local environmental events and the cost of debt : evidence from China

Jiao, Yan; Li, Xiao; Yang, Xin - 2025

We used difference-in-differences research design to investigate the effect of the outbreak of extreme environmental events near firms' headquarters on the cost of debt.Using a sample of Chinese firms listed on the Shanghai and Shenzhen A-Share markets from 2004 to 2020, we find that treated...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015467636

How does enterprise digital transformation affect the cost of debt financing? : Based on the perspective of customer concentration risk

Zhang, Chenrui - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015470264

Monetary policy and bank funding costs : patterns and predictability in the transmission of the policy rate to U.S. banks' funding costs

Dias, Daniel; Scott, Sophia C. - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015471430

The moderating role of audit quality in the relationship between ESG practices and the cost of capital : evidence from the United Kingdom

Hazaea, Saddam A.; Cai, Chun; Khatib, Saleh F. A.; … - 2025

This study investigates the impact of environmental, social, and governance (ESG) performance on the cost of capital, using a sample of 406 non-financial companies in the United Kingdom from 2014 to 2023. We examined how ESG performance and audit quality influence the cost of equity (CoE), cost...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015472387

Country-level cryptocurrency uncertainty and bank cost of capital

Noman, Abu Hanifa Md.; Abdullah, Mohammad; Yarovaya, Larisa - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015472799

ESG performance and the cost of debt : exploring the role of internal audit

Yan, Sibei; Choi, Seung Uk; Hwang, Iny; Jung, Hyung Rok - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015472906

The cost of capital calculation in the project finance settings

Mielcarz, Paweł; Osiichuk, Dmytro; Struciński, Adrian - 2025

The paper aims at elucidating and solving the methodological problems around the estimation of the cost of capital in the project finance settings. By convention, capital budgeting analysts evaluate project finance ventures using the free cash flow for equity (FCFE) method, whereby cash flows,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015447054

The impact of climate litigation risk on firms' cost of bank loans

2025

Using a novel worldwide dataset of 5,264 syndicated loans issued to 329 firms from 2006 to 2021, we study how climate-related litigation risk affects firm's cost of borrowing. We find robust empirical evidence that firms targeted by climate lawsuits pay significantly higher spreads on their bank...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015452892

Carbon risk and the cost of equity capital : evidence from China

Yan, Jingjing; Guo, Yaoqi; Wen, Fenghua - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015453855

The slowdown of productivity in the euro area and the role of input prices

Colonna, Fabrizio; Scoccianti, Filippo; Viviano, Eliana - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015408578

International evidence on the cost of public debt issued by private versus public firms

Liu, Lewis; Clarkson, Peter M. - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015433632

Dynamics of carbon risk, cost of debt and leverage adjustments

Cumming, Douglas J.; Duppati, Geeta; Fernando, Ruwani; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015436280

Understanding the pricing of carbon emissions : new evidence from the stock market

Crosignani, Matteo; Osambela, Emilio; Pritsker, Matthew - 2025

Are carbon emissions priced in equity markets? The literature is split with different approaches yielding conflicting results. We develop a stylized model showing that, if emissions are priced, stock returns depend on expected emissions and the product of the innovation in emissions and the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015437914

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Understanding the pricing of carbon emissions : new evidence from the stock market

Crosignani, Matteo; Osambela, Emilio; Pritsker, Matthew - 2025

Book / Working Paper

The cost of capital and misallocation in the United States

Faria-e-Castro, Miguel; Kozlowski, Julian; Majerovitz, … - 2025

We develop a methodology to estimate the cost of capital using credit registry microdata, and apply it to study capital allocation efficiency in the United States. Our measure incorporates the contractual interest rate, expected default probability, recovery rate, and expectations of future...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015439110

Causal impact of stock price crash risk on cost of equity : evidence from Chinese markets

Zonon, Babatounde Ifred Paterne; Wang, Xianzhi; Chen, Chuang - 2025

This study investigates the causal impact of stock price crash risk on the cost of equity (COE) in China's segmented A- and B-share markets with an emphasis on ownership structures and market regimes. Employing a bootstrap panel Granger causality framework, Markov-switching dynamic regression,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015439390

Is capital structure irrelevant with ESG investors?

Feldhütter, Peter; Pedersen, Lasse Heje - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015458818