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dc.contributor.authorHmaittane, Abdelmajid
dc.contributor.authorBouslah, Kais
dc.contributor.authorM’Zali, Bouchra
dc.contributor.authorIbariouen, Imane
dc.identifier.citationHmaittane , A , Bouslah , K , M’Zali , B & Ibariouen , I 2022 , ' Corporate sustainability and cost of equity capital : do managerial abilities matter? ' , Sustainability , vol. 14 , no. 18 , 11363 .
dc.identifier.otherPURE: 281224402
dc.identifier.otherPURE UUID: 963bc552-ae10-4ed2-9686-8a38221f2cee
dc.identifier.otherORCID: /0000-0001-8407-8929/work/119212163
dc.identifier.otherWOS: 000858819800001
dc.identifier.otherScopus: 85138718681
dc.description.abstractThis paper investigates whether a firm’s managerial ability affects the link between a firm’s cost of equity capital and corporate sustainability. We test our predictions by using a large U.S. sample of 17,389 firm-year observations. Our findings show that only when managerial ability is high, corporate sustainability significantly reduces a firm’s implied cost of equity capital. An important implication of our findings is that firms with high managerial abilities and limited sustainability commitment are encouraged to pursue or initiate more sustainability activities owing to their negative effect on a firm’s cost of equity capital.
dc.rightsCopyright: © 2022 by the authors. Licensee MDPI, Basel, Switzerland. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.en
dc.subjectCorporate sustainabilityen
dc.subjectManagerial abilitiesen
dc.subjectImplied cost of equity capitalen
dc.subjectCSR strengthsen
dc.subjectFinancial crisisen
dc.subjectHB Economic Theoryen
dc.subjectHG Financeen
dc.subjectSDG 12 - Responsible Consumption and Productionen
dc.titleCorporate sustainability and cost of equity capital : do managerial abilities matter?en
dc.typeJournal articleen
dc.description.versionPublisher PDFen
dc.contributor.institutionUniversity of St Andrews. Centre for the Study of Philanthropy & Public Gooden
dc.contributor.institutionUniversity of St Andrews. Centre for Responsible Banking and Financeen
dc.contributor.institutionUniversity of St Andrews. School of Managementen
dc.description.statusPeer revieweden

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