Examinando por Materia "Indicadores ASG"

Mostrando 1 - 1 de 1
  • No hay miniatura disponible
    Publicación
    Efecto de los indicadores ASG sobre el costo de la deuda de las empresas de energía en los Estados Unidos
    (Universidad EAFIT, 2025) Murillo Hernández, Miguel Ángel; Rodríguez Rodríguez, José Yesid; Yepes Raigosa, David Alejandro
    This study examines the relationship between environmental, social, and governance (ESG) indicators and the cost of debt in U.S. energy sector companies. Using a panel data model covering 63 firms between 2009 and 2023, several models were estimated with different combinations of aggregated ESG score and its disaggregated components. The results show that the composite ESG score is not statistically significant. However, when disaggregated, the social and governance components are negatively associated with the cost of debt, indicating a reduction in borrowing costs. In contrast, the environmental component exhibits a positive and significant relationship, potentially reflecting perceived financial risk. The findings suggest that ESG factors should be evaluated independently to understand their impact on corporate financing decisions better.