CORPORATE SOCIAL RESPONSIBILITY AND ITS EFFECT ON CORPORATE BOND YIELD SPREAD

dc.contributorAalto Universityen
dc.contributorAalto-yliopistofi
dc.contributor.advisorJoenväärä, Juha
dc.contributor.authorHakala, Iiro
dc.contributor.departmentRahoituksen laitosfi
dc.contributor.schoolKauppakorkeakoulufi
dc.contributor.schoolSchool of Businessen
dc.date.accessioned2019-12-29T17:06:52Z
dc.date.available2019-12-29T17:06:52Z
dc.date.issued2019
dc.description.abstractThis study examines whether there is a relation between Corporate social responsibility activities and U.S. corporate bond risk premium in U.S. secondary markets by analyzing a sample with a period of 2002 – 2012. The risk premium is estimated as a yield spread between corporate bond yields and U.S. Treasury yields with similar characteristics. I find that overall corporate social responsibility score is negatively associated with corporate bond yield spread and when ceteris paribus, increase of overall corporate social responsibility score by one-point results a decrease of risk premium by 4,48 basis points. Suggesting that fixed-income investors value socially responsible firm’s less risky.en
dc.format.extent22+4
dc.format.mimetypeapplication/pdfen
dc.identifier.urihttps://aaltodoc.aalto.fi/handle/123456789/41854
dc.identifier.urnURN:NBN:fi:aalto-201912296800
dc.language.isoenen
dc.programmeRahoitusen
dc.subject.keywordcorporate social responsibilityen
dc.subject.keywordCSRen
dc.subject.keywordcorporate bond yield spreaden
dc.subject.keywordcorporate bond marketen
dc.titleCORPORATE SOCIAL RESPONSIBILITY AND ITS EFFECT ON CORPORATE BOND YIELD SPREADen
dc.typeG1 Kandidaatintyöfi
dc.type.ontasotBachelor's thesisen
dc.type.ontasotKandidaatintyöfi
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