Corporate environmental performance, governance and financing decisions: Empirical evidence from France
This study examined the impact of corporate environmental performance and its specific areas, namely emission reduction, resource use and environmental innovation, on firm financing decisions. We used the System Generalised Method of Moments (GMM) to analyse data from French firms listed on the SBF1...
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| Format: | Article |
| Language: | English |
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Elsevier
2025-06-01
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| Series: | Environmental Challenges |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2667010025000885 |
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| _version_ | 1850173482035314688 |
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| author | Sonia Boukattaya |
| author_facet | Sonia Boukattaya |
| author_sort | Sonia Boukattaya |
| collection | DOAJ |
| description | This study examined the impact of corporate environmental performance and its specific areas, namely emission reduction, resource use and environmental innovation, on firm financing decisions. We used the System Generalised Method of Moments (GMM) to analyse data from French firms listed on the SBF120 index between 2010 and 2019. Our findings indicate that corporate environmental performance is positively associated with debt financing. Additionally, each environmental dimension influences debt use in distinct ways. Finally, good corporate governance strengthens the positive relationship between environmental performance and debt financing. Our results are robust across different financing measures and subsample analyses. This study provides new insights into the corporate governance-environmental performance nexus, offering important managerial and policy implications. |
| format | Article |
| id | doaj-art-60ffa181f2ce47e89cb0dd5b5a2b450c |
| institution | OA Journals |
| issn | 2667-0100 |
| language | English |
| publishDate | 2025-06-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Environmental Challenges |
| spelling | doaj-art-60ffa181f2ce47e89cb0dd5b5a2b450c2025-08-20T02:19:51ZengElsevierEnvironmental Challenges2667-01002025-06-011910116910.1016/j.envc.2025.101169Corporate environmental performance, governance and financing decisions: Empirical evidence from FranceSonia Boukattaya0GEF2A Lab, ISG Tunis, University of Tunis, Tunis, TunisiaThis study examined the impact of corporate environmental performance and its specific areas, namely emission reduction, resource use and environmental innovation, on firm financing decisions. We used the System Generalised Method of Moments (GMM) to analyse data from French firms listed on the SBF120 index between 2010 and 2019. Our findings indicate that corporate environmental performance is positively associated with debt financing. Additionally, each environmental dimension influences debt use in distinct ways. Finally, good corporate governance strengthens the positive relationship between environmental performance and debt financing. Our results are robust across different financing measures and subsample analyses. This study provides new insights into the corporate governance-environmental performance nexus, offering important managerial and policy implications.http://www.sciencedirect.com/science/article/pii/S2667010025000885Emissions reductionResource useEnvironmental innovationEnvironmentally sensitive industriesCapital structure |
| spellingShingle | Sonia Boukattaya Corporate environmental performance, governance and financing decisions: Empirical evidence from France Environmental Challenges Emissions reduction Resource use Environmental innovation Environmentally sensitive industries Capital structure |
| title | Corporate environmental performance, governance and financing decisions: Empirical evidence from France |
| title_full | Corporate environmental performance, governance and financing decisions: Empirical evidence from France |
| title_fullStr | Corporate environmental performance, governance and financing decisions: Empirical evidence from France |
| title_full_unstemmed | Corporate environmental performance, governance and financing decisions: Empirical evidence from France |
| title_short | Corporate environmental performance, governance and financing decisions: Empirical evidence from France |
| title_sort | corporate environmental performance governance and financing decisions empirical evidence from france |
| topic | Emissions reduction Resource use Environmental innovation Environmentally sensitive industries Capital structure |
| url | http://www.sciencedirect.com/science/article/pii/S2667010025000885 |
| work_keys_str_mv | AT soniaboukattaya corporateenvironmentalperformancegovernanceandfinancingdecisionsempiricalevidencefromfrance |