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      Environmental performance and firm financing during COVID-19 outbreaks: Evidence from SMEs

      Wellalage, Nirosha Hewa; Kumar, Vijay; Hunjra, Ahmed Imran; Al-Faryan, Mamdouh Abdulaziz Saleh 
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      Environmental performance and firm financing during COVID-19 outbreaks.pdf
      Accepted version, 711.4Kb
      This file wil be publicly accessible from 2024-06-06
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      DOI
       10.1016/j.frl.2021.102568
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      Permanent link to Research Commons version
      https://hdl.handle.net/10289/15455
      Abstract
      The COVID-19 pandemic has resulted in substantial constraints for small and medium enterprises (SMEs) worldwide. The techniques in which SMEs handle recent crises and the degree to which environmental performance is advantageous when the marketplace experiences an adverse shock is fairly untouched in the literature. To assess this probability, we examine, using data from 6,597 SMEs in 13 developing countries, the effect of firm environmental efficiency on firm financing during the COVID-19 outbreak. We consider three aspects of external financing -- bank, non-bank and trade credit -- and suggest that it pays for firms to show devotion to environmental obligations in a global pandemic. Our research implies that the trust between a firm and its stakeholders, if it is based on environmental performance, pays off when the trust freefall during periods of shock and adversity.
      Date
      2022-06-06
      Type
      Journal Article
      Publisher
      Elsevier BV
      Rights
      This is an author’s accepted version of an article published in the journal: Finance Research Letters. © 2022 Elsevier B.V.
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      • Management Papers [1136]
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