Operational Efficiency and Debt Cost: The Mediating Effect of Carbon Information Disclosure in Chinese Listed Companies

Round 1

Reviewer 1 Report

1. hypothesis is vague, authors are requested to review the hypothesis based on extensive review for modification and update 

2. Authors are suggested to check the assumption of economic models like normality, multicollinearity, linearity etc for robust results/findings 

3. Authors can add separated sections of policy and managerial implications of the study and Limitation/Future research directions 

Author Response

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Author Response File: Author Response.pdf

Reviewer 2 Report

This article analysis a very topical issue that is the relationship between an environmental information reporting and its operational and financial performance. For that purpose, the authors analyzed specifically the carbon information disclosure mediating effect between operational efficiency and debt cost. Authors used a stepwise regression method and bootstrap statistical method and their results show that when operational efficiency increases debt costs decreases but just for low-carbon industries. In addition, the authors believe that their results may also be useful for firms in high-carbon industries.

The structure of the article is correctly chosen and it exhibits a logical concern. The literature reviewed is adequate to support the hypothesis and results are well documented. However, in the case of high-carbon industries it should be emphasized that more research is needed regarding the impact of carbon information disclosure and its mediating effect on debt of cost and operational efficiency. For example, to examine the impact of low level of debt in those kind of entities.

Some spaces are missing in the text, namely in line 116 before “as”, line 405 before “0.047”, line 406 before “0.502”, line 412 before “.063”and line 413 before “0.646”.

Author Response

Please see the attachment.

Author Response File: Author Response.pdf