Corporate ESG Profiles, Matching, and the Cost of Bank Loans

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dc.contributor.advisorHarford, Jarrad
dc.contributor.authorShin, David
dc.date.accessioned2021-10-29T16:18:56Z
dc.date.available2021-10-29T16:18:56Z
dc.date.issued2021-10-29
dc.date.submitted2021
dc.descriptionThesis (Ph.D.)--University of Washington, 2021
dc.description.abstractI examine the impact of corporate Environmental, Social, and Governance (ESG) profiles on the matching between lenders and borrowers and loan pricing. High ESG firms are more likely to obtain loans, which come with lower interest rates. These effects are driven by low ESG banks that attempt to improve their ESG profiles by lending to high ESG firms at lower rates. I support these findings using the FTSE4Good US Index rebalance events as shocks to borrowers' ESG reputation. I also find that borrowers improve their ESG ratings while seeking a loan and reduce that effort after obtaining it.
dc.embargo.termsOpen Access
dc.format.mimetypeapplication/pdf
dc.identifier.otherShin_washington_0250E_23219.pdf
dc.identifier.urihttp://hdl.handle.net/1773/47950
dc.language.isoen_US
dc.rightsnone
dc.subject
dc.subjectFinance
dc.subject.otherBusiness administration
dc.titleCorporate ESG Profiles, Matching, and the Cost of Bank Loans
dc.typeThesis

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