Corporate Social Responsibility and Corporate Debt Maturity: Australian Evidence

This study investigates the relationship between corporate social responsibility (CSR) and corporate debt maturity. After controlling for other determinants of debt maturity, we find that socially responsible firms exhibit longer debt maturity, supporting the view that CSR facilities firms’ access to longer-term debt. Further analysis shows that the effect of CSR on debt maturity is stronger for firms operating in the mining industry and firms with a higher level of information asymmetry. Our findings are robust to alternative variable measurement as well as endogeneity and sample selection bias controls.

Keywords: corporate social responsibility, debt maturity, long-term debt, mining firms, information asymmetry

JEL Classification: G32, M14

Suggested Citation: Suggested Citation

Nguyen, Van Ha and Choi, Bobae and Agbola, Frank W., Corporate Social Responsibility and Corporate Debt Maturity: Australian Evidence (January 20, 2019). 2019 Financial Markets & Corporate Governance Conference, Available at SSRN: https://ssrn.com/abstract=3319123