In this study, the dependent variables, i.e., the credit risk parameters, are estimated using ESG variables as well as emission-specific and company-specific control variables. Linear and logistic regression analyses are applied for the estimation. The sample is based on bond issuances by European companies from the years 2012–2022.

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Methodology of the Empirical Study on ESG and Credit Risk

  • Anna Gappmaier

摘要

In this study, the dependent variables, i.e., the credit risk parameters, are estimated using ESG variables as well as emission-specific and company-specific control variables. Linear and logistic regression analyses are applied for the estimation. The sample is based on bond issuances by European companies from the years 2012–2022.