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Do CSR Ratings Affect Loan Spreads? Evidence from European Syndicated Loan Market
2020
Sustainability
We investigate whether corporate social responsibility (CSR) ratings affect the syndicated loan spreads paid by European listed firms. By performing ordinary least squares (OLS) pooled regressions on a sample of 1101 syndicated loans granted to European companies, we find evidence that borrowers' CSR ratings have a significant impact on loan spreads. However, the relationship between CSR ratings and loan spreads is quite complex. Low CSR-rated firms pay higher loan spreads than better CSR-rated
doi:10.3390/su12187639
doaj:9c664300d37b4bed928fc682b7acca62
fatcat:urls4pjd3rdc5pz2egibys27re