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Green Bond Pricing and Greenwashing under Asymmetric Information

Schmittmann, Jochen M. - 2022

We analyze the corporate green bond market under a rational framework without an innate green preference, using a simple adverse selection model. Firms can use green bonds to signal their green credentials to investors. Transition risk stems from uncertainty over the introduction of carbon...

Persistent link: https://www.econbiz.de/10015059920

Decomposing Climate Risks in Stock Markets

Yang, Yuanchen - 2023

Climate change poses an unprecedented challenge to the world economy and the global financial system. This paper sets out to understand and quantify the impact of climate mitigation, with a focus on climate-related news, which represents an important information source that investors use to...

Persistent link: https://www.econbiz.de/10015059379

Credit Booms and Lending Standards : Evidence From the Subprime Mortgage Market

Dell'Ariccia, Giovanni - 2008

This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house price increases. We also find that the underlying...

Persistent link: https://www.econbiz.de/10014409025

Private information, capital flows, and exchange rates

Gyntelberg, Jacob; Loretan, Mico; Tientip Subhanij - 2012

We demonstrate empirically that not all capital flows influence exchange rates equally: Capital flows induced by foreign investors' stock market transactions have both an economically significant and a permanent impact on exchange rates, whereas capital flows induced by foreign investors'...

Persistent link: https://www.econbiz.de/10009621637

Informality and Bank Credit

Koeda, Junko - 2008

The paper relies on a firm-level data on transition economies to examine the relationship between informality and bank credit. We find evidence that informality is robustly and significantly associated with lower access to and use of bank credit. We also find that higher tax compliance costs...

Persistent link: https://www.econbiz.de/10012677574

Credit Booms and Lending Standards

Dell'Ariccia, Giovanni - 2008

Persistent link: https://www.econbiz.de/10012677586

Innovation in Banking and Excessive Loan Growth

Fund, International Monetary - 2008

The volume of credit extended by a bank can be an informative signal of its abilities in loan selection and management. It is shown that, under asymmetric information, banks may therefore rationally lend more than they would otherwise in order to demonstrate their quality, thus negatively...

Persistent link: https://www.econbiz.de/10012677639

Altruism and Workers' Remittances : Evidence from Selected Countries in the Middle East and Central Asia

Bouhga-Hagbe, Jacques - 2006

. Tunisia. …

Persistent link: https://www.econbiz.de/10012691145

Why Is Tunisia's Unemployment So High? Evidence From Policy Factors

Belgacem, Aymen - 2023

Tunisia has one of the highest unemployment rates within the Middle East and Central Asia. We look at the extent to … institutional factors that affect labor demand explain not only about a quarter of the unemployment rate increase in Tunisia, but … also Tunisia's excess sensitivity of unemployment to the output gap. Our results suggest that an improved business …

Persistent link: https://www.econbiz.de/10015059052

Overview of the Indian Corporate Sector: 1989-2002

Topalova, Petia - International Monetary Fund (IMF) - 2004

This paper uses firm-level data to examine the performance of India's nonfinancial corporate sector since 1989 and evaluate its financial vulnerabilities. While promising trends in liquidity, profitability, and leverage of the sector emerged in the early 1990s, they experienced a reversal after...

Persistent link: https://www.econbiz.de/10005768803