Bank debt signalling and corporate sustainability: Does incongruence blur the message?

Producción Científica

Bibliographic Details
Authors: Fuente Herrero, Gabriel de la, Velasco González, María Del Pilar
Format: article
Status:Published version
Publication Date:2021
Country:España
Institution:Universidad de Valladolid
Repository:UVaDOC. Repositorio Documental de la Universidad de Valladolid
OAI Identifier:oai:uvadoc.uva.es:10324/48135
Online Access:https://doi.org/10.1016/j.frl.2021.102288
https://uvadoc.uva.es/handle/10324/48135
Access Level:Open access
Keyword:Bank debt
Deuda bancaria
Corporate sustainability
Sostenibilidad corporativa
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spelling Bank debt signalling and corporate sustainability: Does incongruence blur the message?Fuente Herrero, Gabriel de laVelasco González, María Del PilarBank debtDeuda bancariaCorporate sustainabilitySostenibilidad corporativaProducción CientíficaThis paper examines the interplay between the signalling function of bank debt and other indicators which might reveal incongruence among a firm's actions and question the sincerity of its sustainability engagement. Empirical evidence on a sample of U.S. companies reveals that the presence of bank debt in a firm's leverage improves the performance of sustainability. This beneficial effect of bank debt is greater for the environmental pillar. However, bank debt signalling weakens (or even disappears) in the presence of other indicators that express incongruence, such as a low uniformity in the commitment across sustainability pillars and belonging to a culpable industry. Overall, this study highlights the importance of harmonizing the signal set so that it has an impact on firm value.Ministerio de Ciencia, Innovación y Universidades (grants ECO2017-84864-P and PID2020-114797GB-I00)Elsevier2021info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://doi.org/10.1016/j.frl.2021.102288https://uvadoc.uva.es/handle/10324/48135reponame:UVaDOC. Repositorio Documental de la Universidad de Valladolidinstname:Universidad de ValladolidIngléshttps://www.sciencedirect.com/science/article/pii/S1544612321003251?via%3Dihubinfo:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by-nc-nd/4.0/oai:uvadoc.uva.es:10324/481352026-06-13T12:44:47Z
dc.title.none.fl_str_mv Bank debt signalling and corporate sustainability: Does incongruence blur the message?
title Bank debt signalling and corporate sustainability: Does incongruence blur the message?
spellingShingle Bank debt signalling and corporate sustainability: Does incongruence blur the message?
Fuente Herrero, Gabriel de la
Bank debt
Deuda bancaria
Corporate sustainability
Sostenibilidad corporativa
title_short Bank debt signalling and corporate sustainability: Does incongruence blur the message?
title_full Bank debt signalling and corporate sustainability: Does incongruence blur the message?
title_fullStr Bank debt signalling and corporate sustainability: Does incongruence blur the message?
title_full_unstemmed Bank debt signalling and corporate sustainability: Does incongruence blur the message?
title_sort Bank debt signalling and corporate sustainability: Does incongruence blur the message?
dc.creator.none.fl_str_mv Fuente Herrero, Gabriel de la
Velasco González, María Del Pilar
author Fuente Herrero, Gabriel de la
author_facet Fuente Herrero, Gabriel de la
Velasco González, María Del Pilar
author_role author
author2 Velasco González, María Del Pilar
author2_role author
dc.subject.none.fl_str_mv Bank debt
Deuda bancaria
Corporate sustainability
Sostenibilidad corporativa
topic Bank debt
Deuda bancaria
Corporate sustainability
Sostenibilidad corporativa
description Producción Científica
publishDate 2021
dc.date.none.fl_str_mv 2021
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://doi.org/10.1016/j.frl.2021.102288
https://uvadoc.uva.es/handle/10324/48135
url https://doi.org/10.1016/j.frl.2021.102288
https://uvadoc.uva.es/handle/10324/48135
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv https://www.sciencedirect.com/science/article/pii/S1544612321003251?via%3Dihub
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
http://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
rights_invalid_str_mv http://creativecommons.org/licenses/by-nc-nd/4.0/
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:UVaDOC. Repositorio Documental de la Universidad de Valladolid
instname:Universidad de Valladolid
instname_str Universidad de Valladolid
reponame_str UVaDOC. Repositorio Documental de la Universidad de Valladolid
collection UVaDOC. Repositorio Documental de la Universidad de Valladolid
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,301603

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