Abstract
ABSTRACT This study investigates the relationship between environmental, social, and governance (ESG) performance and cost of debt in Chinese corporate bond market from 2010 to 2019. The research aims to address the increasing importance of ESG considerations in financial decision-making. The study reveals the significance of specific ESG factors, such as environmental innovation, CSR committees, in influencing bond spreads. To enhance robustness, the robust tests including PSM, lagged variables, 2SLS, GMM, reinforcing the comprehensive nature of its findings. These results underscore the significance of ESG considerations in debt pricing, contributes valuable insights to academia and practitioners in sustainable finance.
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