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Academic Journal of Business & Management, 2022, 4(17); doi: 10.25236/AJBM.2022.041718.

Environmental Information Disclosure, Environmental Inputs and the Cost of Debt Financing——Experience from Listed Companies in China's Heavily Polluting Industries


Fei Huang

Corresponding Author:
Fei Huang

School of Management, Shanghai University, Shanghai, China


This paper investigates the impact of corporate environmental information disclosure on the cost of debt financing and further explores the impact of environmental information disclosure on the cost of debt financing based on the moderating effect of environmental inputs and also based on the heterogeneity of firm attributes. The findings of this study show that: environmental information disclosure is negatively related to firms' debt financing costs; environmental protection inputs play an enhanced moderating role in the effect of environmental information disclosure on debt financing costs; and the moderating effect of environmental protection inputs on the negative relationship between environmental information disclosure and debt financing costs is more significant in non-state-owned firms compared to state-owned firms.


Environmental Information Disclosure, Environmental Inputs, The Cost of Debt Financing, The heavy pollution industry

Cite This Paper

Fei Huang. Environmental Information Disclosure, Environmental Inputs and the Cost of Debt Financing——Experience from Listed Companies in China's Heavily Polluting Industries. Academic Journal of Business & Management (2022) Vol. 4, Issue 17: 138-145. https://doi.org/10.25236/AJBM.2022.041718.


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