Does digital transformation lower equity financing costs? An explanation based on the “return-risk-expectation” framework
Author
Abstract
Suggested Citation
DOI: 10.1007/s10644-024-09682-1
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Yi Yang & Vadake K. Narayanan & Donna M. De Carolis, 2014. "The relationship between portfolio diversification and firm value: The evidence from corporate venture capital activity," Strategic Management Journal, Wiley Blackwell, vol. 35(13), pages 1993-2011, December.
- Liang, Hao & Renneboog, Luc, 2017. "On the foundations of corporate social responsibility," Other publications TiSEM c6821f0a-e7f0-41da-adba-1, Tilburg University, School of Economics and Management.
- El Ghoul, Sadok & Fu, Zhengwei & Guedhami, Omrane & Saadi, Samir, 2023. "Firm inflexibility and the implied cost of equity," Finance Research Letters, Elsevier, vol. 52(C).
- Jun, Chen & Qiyuan, Liu & Xiaofang, Ma & Zhang, Feida (Frank), 2023. "Board gender diversity and cost of equity: Evidence from mandatory female board representation," International Review of Economics & Finance, Elsevier, vol. 88(C), pages 501-515.
- Emily Oster, 2019. "Unobservable Selection and Coefficient Stability: Theory and Evidence," Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 37(2), pages 187-204, April.
- Huang, Heshu & Wang, Caiting & Wang, Liukai & Yarovaya, Larisa, 2023. "Corporate digital transformation and idiosyncratic risk: Based on corporate governance perspective," Emerging Markets Review, Elsevier, vol. 56(C).
- Chen, Yufeng & Xu, Jing, 2023. "Digital transformation and firm cost stickiness: Evidence from China," Finance Research Letters, Elsevier, vol. 52(C).
- Kraus, Sascha & Schiavone, Francesco & Pluzhnikova, Anna & Invernizzi, Anna Chiara, 2021. "Digital transformation in healthcare: Analyzing the current state-of-research," Journal of Business Research, Elsevier, vol. 123(C), pages 557-567.
- Paul Goldsmith-Pinkham & Isaac Sorkin & Henry Swift, 2020.
"Bartik Instruments: What, When, Why, and How,"
American Economic Review, American Economic Association, vol. 110(8), pages 2586-2624, August.
- Paul Goldsmith-Pinkham & Isaac Sorkin & Henry Swift, 2018. "Bartik Instruments: What, When, Why, and How," NBER Working Papers 24408, National Bureau of Economic Research, Inc.
- Sharon F. Matusik & Markus A. Fitza, 2012. "Diversification in the venture capital industry: leveraging knowledge under uncertainty," Strategic Management Journal, Wiley Blackwell, vol. 33(4), pages 407-426, April.
- Hao Liang & Luc Renneboog, 2017. "On the Foundations of Corporate Social Responsibility," Journal of Finance, American Finance Association, vol. 72(2), pages 853-910, April.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Li, Jing & Nie, Huihua & Ruan, Rui & Shen, Xinyi, 2024. "Subjective perception of economic policy uncertainty and corporate social responsibility: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 91(C).
- Zhu, Ruoyu & Tan, Kehu & Xin, Xiaohui, 2024. "Speed up for sustainable development: High-speed rail and corporate ESG performance," Energy Economics, Elsevier, vol. 138(C).
- Hu, Haoshen & Lazar, Emese & Pan, Jingqi & Wang, Shixuan, 2024. "Environmental performance and credit ratings: A transatlantic study," International Review of Financial Analysis, Elsevier, vol. 96(PB).
- Ding, Hui & Jiang, Fuwei & Zhang, Shan & Zhang, Zhining, 2024. "Managerial myopia and corporate social responsibility:Evidence from the textual analysis of Chinese earnings communication conferences," Journal of Behavioral and Experimental Finance, Elsevier, vol. 41(C).
- Fang, Mingyue & Nie, Huihua & Shen, Xinyi, 2023. "Can enterprise digitization improve ESG performance?," Economic Modelling, Elsevier, vol. 118(C).
- Zhou, Xiaoxiao & Jia, Mengyu & Li, Wenqing & Zhao, Xin & Gatto, Andrea & Ma, Xiaowei, 2024. "Higher education or scientific research: Which one contributes more to China's green innovation?," Socio-Economic Planning Sciences, Elsevier, vol. 94(C).
- Liu, Xiangqiang & Yang, Qingqing & Wei, Kai & Dai, Peng-Fei, 2024. "ESG rating disagreement and idiosyncratic return volatility: Evidence from China," Research in International Business and Finance, Elsevier, vol. 70(PB).
- Nolan Ritter & Julia Anna Bingler, 2021. "Do homo sapiens know their prices? Insights on dysfunctional price mechanisms from a large field experiment," CER-ETH Economics working paper series 21/348, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
- Joel Bothello & Ioannis Ioannou & Vlad‐Andrei Porumb & Yasemin Zengin‐Karaibrahimoglu, 2023. "CSR decoupling within business groups and the risk of perceived greenwashing," Strategic Management Journal, Wiley Blackwell, vol. 44(13), pages 3217-3251, December.
- Da Gao & Xiaotian Zhou & Jing Wan, 2024. "Unlocking sustainability potential: The impact of green finance reform on corporate ESG performance," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 4211-4226, September.
- Dong, Xiao & Yu, Mingzhe, 2024. "Green bond issuance and green innovation: Evidence from China's energy industry," International Review of Financial Analysis, Elsevier, vol. 94(C).
- Lei, Ni & Miao, Qin & Yao, Xin, 2023. "Does the implementation of green credit policy improve the ESG performance of enterprises? Evidence from a quasi-natural experiment in China," Economic Modelling, Elsevier, vol. 127(C).
- Zheng, Jiayi & Chowdhury, Hasibul & Hossain, Md Safayat & Gupta, Kartick, 2023. "Tournament-based incentives and media sentiment," Journal of Contemporary Accounting and Economics, Elsevier, vol. 19(2).
- Morris M. Kleiner & Evan J. Soltas, 2019. "A Welfare Analysis of Occupational Licensing in U.S. States," NBER Working Papers 26383, National Bureau of Economic Research, Inc.
- Ute Merbecks, 2024. "Corporate digital responsibility (CDR) in Germany: background and first empirical evidence from DAX 30 companies in 2020," Journal of Business Economics, Springer, vol. 94(7), pages 1025-1049, October.
- Garcia-López, Miquel-Àngel & Jofre-Monseny, Jordi & Martínez-Mazza, Rodrigo & Segú, Mariona, 2020.
"Do short-term rental platforms affect housing markets? Evidence from Airbnb in Barcelona,"
Journal of Urban Economics, Elsevier, vol. 119(C).
- Miquel-Àngel Garcia-López & Jordi Jofre-Monseny & Rodrigo Martínez Mazza & Mariona Segú, 2019. "Do short-term rental platforms affect housing markets? Evidence from Airbnb in Barcelona," Working Papers 2019/05, Institut d'Economia de Barcelona (IEB).
- Miquel-Àngel Garcia-López & Jordi Jofre-Monseny & Rodrigo Martínez-Mazza & Mariona Segú, 2020. "Do short-term rental platforms affect housing markets? Evidence from Airbnb in Barcelona," Working Papers wpdea2006, Department of Applied Economics at Universitat Autonoma of Barcelona.
- Mariona Segu & Miquel-Àngel Garcia-López & Jordi Jofre-Monseny & Rodrigo Martínez-Mazza, 2020. "Do short-term rental platforms affect housing markets? Evidence from Airbnb in Barcelona," Post-Print hal-03472968, HAL.
- Catherine D’hondt & Maxime Merli & Tristan Roger, 2021. "What drives retail portfolio exposure to ESG factors?," Post-Print hal-03373287, HAL.
- Ramzi Benkraiem & Maria Qureshi & Asif Saeed & Constantin Zopounidis, 2024. "Corporate social responsibility, carbon footprints and stock market valuation," Financial Markets, Institutions & Instruments, John Wiley & Sons, vol. 33(3), pages 213-237, August.
- Peng, Shengnan & Liu, Chan & Wang, Ze & Ye, Zihan & Sun, Xialing & Tan, Zhanglu, 2024. "The impact of the carbon reduction policy effectiveness on energy companies' ESG performance," International Review of Financial Analysis, Elsevier, vol. 96(PB).
- Liu, Frank Hong & Wu, Qiang & Zhou, Yue, 2024. "Bank deregulation and corporate social responsibility," Journal of Financial Stability, Elsevier, vol. 74(C).
More about this item
Keywords
Digital transformation; Equity financing costs; Future earnings; Corporate governance; Lifecycle; Marketization; Investor sentiment;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:ecopln:v:57:y:2024:i:2:d:10.1007_s10644-024-09682-1. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.